OIL AND GAS

30 Oct 2014

EFG Hermes expects lower oil prices as positive news for Egypt

EFG-Hermes expected lower oil prices as clearly positive news for oil-importing MENA. Egypt, Morocco, Jordan and Lebanon are likely to enjoy the biggest gains, Egypt's largest investment bank said in report on Wednesday. "Egypt will benefit, as it recently has become a net energy importer, though it has been increasingly exporting crude oil in recent years to...

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29 Oct 2014

UPDATE 2-Egypt output slowdown and low oil price hit BG profits

BG Group reported a worse-than-expected 26 percent fall in third-quarter operating profit as its output in Egypt halved and a steep drop in oil prices took its toll on Britain's third-biggest energy company.


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29 Oct 2014

Ezz Dekheila's profits fall on energy shortage

Ezz dekheila profits dipped following a month and half long suspension of gas supplies.

Egyptian steel manufacturer, Ezz Dekheila, announced a 94 percent fall in profits for the third quarter on the back of energy shortages and price hikes.

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22 Oct 2014

Cyprus Mail: Talks with Egypt over possible gas exports

The Cyprus Hydrocarbons Company (CHC) on Monday held talks with BG Egypt to discuss possible export of Cyprus’ natural gas to the company`s infrastructure in Egypt.


Speaking"...

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21 Oct 2014

Tamar Partners Start Negotiation for Gas Export to Egypt Via Existing Pipeline

The Tamar Partners started negotiations with Dolphinus Holdings to export gas produced in Israel to Egypt through the existing gas pipeline operated by East Mediterranean Gas. The parts signed a letter of intent on Friday.


‘The"......

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21 Oct 2014

Dragon prepares for 3D seismic campaign offshore Egypt

Dragon Oil has invited bids from contractors to acquire 3D seismic over a 100-sq km (38.6-sq mi) area in block 19 East Zeit Bay in the Gulf of Suez offshore Egypt.


In parallel, the company is evaluating tenders"......

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20 Oct 2014

Israel's Tamar Partners Sign Letter of Intent with Egypt's Dolphinus Holdings

Israel’s Tamar Partners have signed a letter of intent (LoI) with Egypt’s Dolphinus Holdings Limited to supply five billion cubic meters (bcm) of natural gas, Delek Group, one of the partners in Tamar field, said on Sunday.


"......

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20 Oct 2014

Egypt's natural gas exports down 86% y-o-y in August

Natural gas exports continue to drop as more production is used to meet Egypt's rising electricity demands.

Egypt's exports of natural gas in August witnessed an 86 percent drop compared to the corresponding month of the previous year, the state-run Information and Decision Support Centre (IDSC) reported on Sunday.

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18 Oct 2014

Egypt: Petroleum Minister - Existing Oil Infrastructure to Be Upgraded

Petroleum Minister Sherif Ismaeil has visited the Upper Egyptian provinces of Assiut and Minya. He toured the ministry's key projects in the two provinces and held meetings with top officials.


"Several"...

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16 Oct 2014

Apache Corp to raise gas supplied prices to Egypt

The US oil and gas producer Apache Corp. operating in Egypt aims to reach an agreement with the Egyptian government about raising the prices of gas supplied by the end of the year, the company said on Wednesday. The company expects capital investment to remain stable over the next few years at US$1.4 billion annually, with an increase of $450 million in operating...

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