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Tag: OPEC

Egypt participated in OPEC's Vienna meeting as observer

Posted: December 4, 2017 at 1:45 pm   /   Oil & Gas

Egypt participated as an observer in an Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna on Thursday, state agency MENA reported. Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla said that Egypt’s participation at the third joint OPEC and non-OPEC ministerial meeting in Vienna came upon invitation from OPEC. El Molla […]

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OPEC

Egypt not ready to join oil production cut deal – OPEC Secretary General

Posted: July 14, 2017 at 4:11 pm   /   Oil & Gas

OPEC and non-OPEC countries extended the oil production limiting agreement for nine months until March 2018 on May 25. Egypt and Turkmenistan participating in talks with OPEC regarding their participation in the oil production limiting agreement have not yet confirmed their readiness to join the deal, OPEC Secretary General Mohammed Barkindo told TASS on Wednesday […]

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OPEC

Egypt to attend OPEC oil supply cut meeting as observer

Posted: May 17, 2017 at 5:50 pm   /   Oil & Gas

“Egypt is expected to attend the conference for the first time,” said one of the sources in OPEC and the industry, declining to be identified. Egypt is attending the meeting on May 25 as an observer but will not be lowering supply, Petroleum Minister Tarek El Molla said. Egypt’s oil consumption outpaces its production, which […]

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OPEC Secretary General: Egypt may join oil production limiting agreement

Posted: February 22, 2017 at 1:18 pm   /   Oil & Gas

Egypt may join the oil production limiting agreement, OPEC Secretary-General Mohammed Barkindo said at the press-conference on Tuesday. “We still expect more other producers will join [the agreement] in the possible time… Yes, we would like to see Egypt to be part [of the agreement],” Barkindo said. Egypt is currently an observer state in the […]

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NAPEC 2017 signals optimism within the Oil & Gas Industry in North Africa

Posted: February 8, 2017 at 7:00 pm   /   Oil & Gas

Major players see opportunities in the region despite production cut to comply with OPEC agreement. The 7th North Africa Petroleum Exhibition & Conferences (NAPEC) to be held from 21-24 March, 2017 in Oran, Algeria, is set to focus on strengthening operational excellence and increasing productivity as the market in North Africa showed signs of stability, […]

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ADIPEC

ADIPEC 2016 Unveils List of High-Level Speakers for Distinguished VIP Programme

Posted: September 28, 2016 at 7:22 pm   /   Oil & Gas

• H.E. Mohammed Barkindo, OPEC Secretary General, to Present Exclusive Industry Briefing on World Oil Outlook. • Confirmed Speakers include H.E. Suhail Al Mazrouei, UAE Minister of Energy, and H.E. Tarek El Molla, Egypt Minister of Petroleum & Mineral Resources. • “Strategic Relationships and Diplomacy Essential in Today’s World,” says Former NATO Commander General Sir […]

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Descalzi

Eni CEO Claudio Descalzi: Egypt can be one of the solutions for European energy security

Posted: August 5, 2016 at 10:09 pm   /   Oil & Gas

The following is a condensed and edited interview with Eni CEO Claudio Descalzi from Bloomberg Businessweek. How have you responded to the sharp decline in crude oil prices? Fortunately we had a strategy to own conventional assets, which means a very low cost and very low break-even price. At the moment we have one of […]

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Infographic: Why oil prices fluctuate (Jones Oil)

Posted: June 11, 2016 at 3:30 pm   /   Oil & Gas

Oil goes up, it goes down. Many people fail to engage, or have negative opinions, because they don’t understand what drives the price of oil, or how it affects the masses. As with all commodities, supply and demand plays a big part in oil prices. Oil peaked in 2008, but the subsequent global downturn saw […]

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IEA: Oil price recovery will be short-lived

Posted: February 10, 2016 at 11:15 am   /   Oil & Gas

A recent rise in oil prices is a “false dawn” and the oversupply of crude is set to worsen, according to the International Energy Agency (IEA). The IEA expects oil stocks to grow by two million barrels a day in the first quarter and 1.5 million barrels a day in the following three months. In […]

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