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Tag: RWE

BASF and DEA agree on multibillion oil & gas merger to spur expansion

Posted: December 9, 2017 at 2:38 pm   /   Oil & Gas

Chemical giant BASF agreed to merge its oil and gas unit Wintershall with DEA, a vehicle of Russian billionaire Mikhail Fridman, to create one of the largest independent oil and gas firms in Europe, the companies said. Fridman and his partners in the LetterOne investment vehicle made billions by selling their Russian oil empire in […]

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$400m dues owed to RWE for its stake in Suez Oil Company fields

Posted: July 18, 2016 at 10:26 pm   /   Oil & Gas

RWE’s contract in Gulf of Suez concession ends in July 2017; with no request for renewal. The Ministry of Petroleum owes its German partner RWE $400m in dues in exchange for its stake in oil and gas from concession areas. A source in the petroleum sector revealed to Daily News Egypt the real reason behind […]

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Dana Gas CEO expects "bumpy road" ahead for oil market as shale sets floor

Posted: June 2, 2016 at 3:08 pm   /   Oil & Gas

• Dana Gas boosts output to 70,000 barrels of oil equivalent/day. • Company plans to cut debt with awards from arbitration case. The oil market is heading for a “bumpy road” with prices close to levels that are profitable for U.S. shale producers, according to Patrick Allman-Ward, chief executive officer of Dana Gas PJSC, which […]

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Fall of oil price pushes EGPC to halt tender for new exploration

Posted: January 10, 2016 at 7:57 pm   /   Oil & Gas

The price of Brent on international markets recorded $34.4 on Wednesday and reached a maximum of $45 in November. The Egyptian General Petroleum Corporation (EGPC) postponed offering new exploration tenders for oil and gas for foreign companies in ten areas until prices of Brent oil stabilise in international markets, instead of offering tenders early in […]

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Egypt raises gas price paid to Italy's Eni and Edison – EGAS official

Posted: July 6, 2015 at 9:32 pm   /   Oil & Gas

Egypt has raised the prices it pays Eni and Edison for the natural gas they produce in the country, an official with state-owned gas company EGAS said on Sunday. The agreements mark the latest move by Egyptian authorities to improve terms for foreign oil and gas businesses in the hope that more competitive pricing will […]

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