OIL AND GAS

14 Feb 2016

EGAS decreases gas imports to 650m cubic feet per day

The Egyptian Natural Gas Holding Company (EGAS) decreased the volume of imported gas by approximately 650m cubic feet per day compared to 700m feet in January.

The decline was a result of the decline of gross domestic consumption of natural gas, according to a senior official in EGAS.

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10 Feb 2016

International Coalition Announces Criminal Lawsuit Against Petrobras et al in Spanish Criminal Court

The Asociacion de Afectados de Petrobras, a Madrid-based shareholder association; International Securities Associations & Foundations Management Company for Damaged Petrobras Investors (Bolsa Madrid) Ltd. (“ISAF Petrobras”); and a coalition of international law firms, including"...

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09 Feb 2016

SDX Energy Hits Oil Pay in Egypt

The Al Amir SE 23 (AASE-23) development well in North West Gemsa in Egypt has encountered oil-bearing reservoir sections in the Kareem Rahmi and Shagar formations and will be completed as a producer in the Shagar, according to SDX Energy Inc.


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06 Feb 2016

Egypt's petroleum imports down 72% in October: CAPMAS

Egypt's petroleum imports fell 72.4 percent to $1.12 billion in October 2015 down from $3.663 billion in the same period the previous year, official news agency MENA quoted the official statistics agency CAPMAS report on Thursday.

Exports of petroleum products on the other had declined"...

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31 Jan 2016

E-finance distributes fuel smart cards to 56% of vehicles in Egypt

Egypt's government has distributed 3.2 million smart cards for fuel rationing to vehicles, out of a total of 5.7 million vehicles countrywide, the head of card issuing company E-finance, Ibrahim Sarhan, was quoted as saying by Al-Ahram newspaper"...

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28 Jan 2016

Egypt stocks up 1% as crude hovers above $31 a barrell

Egypt stocks rallied on Wednesday along with regional stocks after oil prices rallied on Tuesday, with local and Arab investors as net-buyers.


The benchmark EGX30 index closed up 1.09 percent at 5,960 points after Brent crude price steadied above $31 a barrel on Wednesday morning, having risen above $32 a barrel"......

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26 Jan 2016

Schlumberger Announces Full-Year and Fourth-Quarter 2015 Results

  • Fourth-quarter revenue of $7.7 billion decreased 9% sequentially
  • Fourth-quarter EPS of $0.65, excluding charges and credits, declined 17% sequentially
  • Fourth-quarter restructuring and asset impairment charges totaled $1.46 per share
  • Full-year free cash flow of $5 billion represented 114% of earnings
  • New share repurchase...

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26 Jan 2016

BW Singapore FSRU in Egypt has Been in Full Operation

BW Group on Monday said its LNG Floating Storage and Regasification unit (FSRU) in Egypt has been in full operation since October 2015.


BW Singapore, which is currently at Ain Sokhna, Egypt, was delivered and commissioned in three months"......

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25 Jan 2016

Egypt's Zohr gas field estimate halved - report

The Zohr gas field's 30 TCF estimate has been cut to 16 TCF, the Egyptian media reports, giving Leviathan new relevance.

The original estimate of 30 TCF in Eni's Zohr gas field has been cut to 16 TCF, the"...

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24 Jan 2016

Investors begin weekly trading with 25 January and oil prices in consideration

Head of the technical analysis department at the National Bank of Kuwait for investment in North Africa and the Middle East Mohamed Al Aasar expected trading in the Egyptian stock exchange (EGX) would be between 5,500-5,950 points after it suffered from losses during last week’s trading.

Al-Aasar"...

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