OIL AND GAS

20 Dec 2014

Traders: Egypt's EGAS has tendered for at least 48 LNG cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said.

A senior official at EGAS confirmed that there was a tender for multiple LNG cargoes during Egypt's 2015/16 financial year, which"...

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16 Dec 2014

Egypt to benefit from cheaper oil

The fall in crude oil prices is expected to cut Egypt's subsidy bill by 25%, support fiscal consolidation and help reduce the government budget deficit, according to Deutsche Bank.

However, the flip side of USD 65-crude is that Gulf states' support of Egypt's public financing may be reduced.

Egypt's main challenges for 2015 is to bring down...

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16 Dec 2014

Gas import tender gets offers from BP, Vitol, Trafigura, and Golar LNG: EGAS


A senior official with the Egyptian Natural Gas Holding Company (EGAS) said the company received offers for a gas import tender from BP, Vitol, Trafigura, Golar LNG, and three other companies.


"...

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15 Dec 2014

Total Egypt initiate feasibility studies for new investment

Total Egypt plans on investing in a new factory in Alexandria in 2015, Managing Director of Total Egypt Thomas Repeyrol told Daily News Egypt.


Repeyrol added that feasibility studies for the project have already taken place, with construction of the facility expected to start within two years.


"......

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15 Dec 2014

Egypt gas supply: BG, BP in advanced talks

British gas companies BG Group and BP are in advanced talks over an Egypt deal that could boost supplies to the country, Reuters reports.


BG is considering allowing rival BP to use its pipelines, a move that could enable BG to raise production at its Egyptian operations.


"......

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15 Dec 2014

IKON Group Held Seminar in Collaboration with the Oman Chamber of Commerce

IKON Group in collaboration with the Oman Chamber of Commerce held a seminar on Investment opportunities in Metals and Oil Commodities, as well as Currency Trading. Presiding over the event was Chairman for the Chamber of Commerce and Industry, Sheikh Abdullah Salem Al-Rawas.


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14 Dec 2014

Egypt Eyes Refineries’ Daily Production Capacity of 85.000 Tonnes at 2020-end

Egypt’s oil sector is planning to boost the daily production capacity for refineries from 62.000 to 85.000 thousand tonnes by end of 2020, minister stated.


According to Oil Minister Sherif Ismail, the annual production capacity for Egypt’s refineries currently stands at 35 million tonnes.


"......

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11 Dec 2014

Saudi Aramco and ExxonMobil Joint Venture Completes Clean Fuels Project

  • New hydrotreater dramatically reduces sulfur levels in gasoline and diesel
  • Joint venture celebrates 30 years of joint refining operations, boosting economy and building stronger community
  • Refinery an industry leader in reducing emissions

Saudi Aramco Mobil"...

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10 Dec 2014

BP to invest $12 bln in Egypt over 5 yrs, boost gas supplies


British oil major BP plans to invest more than $12 billion in Egypt over the next five years, and to double its gas supplies to the local market in the next decade, the country manager of BP Egypt said on"...

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10 Dec 2014

Talks underway with Cyprus to import gas through marine pipeline: Ismail

Sherif Ismail, Minister of Petroleum and Mineral Resources, revealed that talks are currently underway with Cyprus to import gas via a marine pipeline to Egypt.


In a press statement, Ismail said that a delegation from the Egyptian Natural Gas Holding Company (EGAS) was sent to Cyprus to conduct technical discussions"......

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