Newsletter subscribe
Tag: Shell
Shell

Shell slashes capital expenditure, reduces operating costs

Posted: March 23, 2020 at 2:27 pm   /   Oil & Gas

Operator will take further strategic decisions as necessary due to coronavirus: Anglo-Dutch supermajor Shell is slashing operating costs, reducing planned capital expenditure by at least 20% this year alongside “material reductions in working capital” as the company strives to remain buoyant. Shell acts to reinforce business resilience and financial strength As the COVID-19 virus spreads […]

No Comments read more
pharos

Pharos Energy confirms its interest in Shell’s Egypt upstream assets

Posted: March 8, 2020 at 1:52 pm   /   Oil & Gas

London-listed junior confirms it is in the ‘preliminary stage of its evaluation’ as part of consortium. London-listed junior Pharos Energy has confirmed it is eyeing Shell’s upstream portfolio in the Western Desert in Egypt, which was recently put for sale. Pharos Energy has confirmed its interest in purchasing Shell’s onshore oil and gas assets in […]

No Comments read more
shell

Apache, Cheiron, Pharos are bidding for Shell’s Egypt onshore assets – Reuters

Posted: February 27, 2020 at 1:49 pm   /   Oil & Gas

Apache Corp, Pharos Energy among bidders for Shell’s Egypt onshore assets: sources. Royal Dutch Shell’s onshore Egyptian oil and gas assets have drawn interest from American, Egyptian, Asian and Middle East bidders, two sources familiar with the matter told Reuters. Shell launched a process at the end of November to sell its onshore upstream assets […]

No Comments read more
WDDM

Shell to drill seven wells at Egypt’s WDDM Phase 9B, adding 236 bcf/d of gas

Posted: February 18, 2020 at 1:36 pm   /   Oil & Gas

The drilling of seven wells at West Delta Deep Marine (WDDM) phase 9B is set to produce initial reserves of 236 billion cubic feet of gas, a statement by the oil ministry said. Sabry El-Sharkawy, chairman of Rashid Petroleum Company (Rashpetco) and Burullus Gas Company, said his company is working on connecting three other wells […]

No Comments read more
WestMed MEES

Egypt agrees with five majors on West Mediterranean exploration

Posted: February 16, 2020 at 2:09 pm   /   Oil & Gas

Egypt agrees with five energy firms on exploration in Mediterranean: minister. Egypt has reached initial agreements with five major energy firms to explore for oil and gas in deep waters in off its western coast on the Mediterranean, the petroleum minister said, the first such deals in that offshore region. The five companies are Royal […]

No Comments read more
Shell Western Desert

Shell Egypt has not yet closed door to offers for Western Desert assets

Posted: February 15, 2020 at 3:26 pm   /   Oil & Gas

Shell Egypt has not yet closed the door to offers for its Western Desert assets, which the company is currently looking to offload, Chairman Khaled Kassem tells Reuters. Kassem did not disclose which companies have expressed interest so far. Sources say that companies were required to submit their indicative proposals on Monday, and Shell will […]

No Comments read more
Offshore-oil-rig

Egypt’s offshore oil & gas segment poised for growth – O&G Middle East

Posted: February 15, 2020 at 2:16 pm   /   Oil & Gas

After Egypt’s Red Sea exploration bidding round, the country’s offshore segment is ready to boom. At the close of Egypt’s Red Sea bidding round, it is clear that international oil companies see opportunity in the country, and its growth is just beginning to swell. Egypt awarded Shell, Mubadala, and Chevron exploration rights in the Red […]

No Comments read more
ElBurg

Egypt modifies gas price of El-Burg offshore concession to $5.88/MMBtu

Posted: February 10, 2020 at 3:53 pm   /   Oil & Gas

Egypt agrees price indexing of Mediterranean’s El-Borg concession capped at $5.88/MMBtu. The Egyptian Natural Gas Holding Company (EGAS), Shell, and BP have signed an agreement to modify gas prices at El-Borg marine concession area in the Mediterranean Sea, through a price index formula linked to the global price of crude barrel, with a maximum price […]

No Comments read more
Shell

Shell starts receiving offers from IOCs to acquire its Egypt assets

Posted: February 4, 2020 at 4:04 pm   /   Oil & Gas

Dutch Shell has started to receive offers from international companies to buy its current assets from oil and natural gas concessions in the Western Desert in Egypt, and plans to finish the sale by the end of this year. A source in the petroleum sector told Daily News Egypt that the company evaluated its concession […]

No Comments read more
Shell

Shell submits proposal to sell natural gas to the Egyptian local market

Posted: January 8, 2020 at 1:10 pm   /   Oil & Gas

Shell Egypt wants to sell natgas to the local market: Shell Egypt has submitted a request to the Gas Regulatory Authority to allow it to sell gas to customers in the local market using the national grid, Shell Egypt Deputy Country Chair Moataz Darwish told Al Mal. The process could take years to complete and […]

No Comments read more