OIL AND GAS

24 Aug 2015

GCC, Egypt markets lose $57bn on oil, global economy woes

Seven GCC stock markets in addition to Egypt’s exchange ended Sunday in the red zone, pressured by the continued fall in oil prices, coupled with a decline in global markets.


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20 Aug 2015

BAPETCo invests $415m in FY 2015/2016

Royal Dutch Shell will pump investments of approximately $415m during fiscal year (FY) 2015/2016 in its areas of privilege which are managed by Badr El Din Petroleum Company (BAPETCo).


This"...

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12 Aug 2015

Russia’s Gazprombank offers Egypt to use rule in grain deals

Russia's Gazprombank has proposed to Egypt that it consider using the Russian national currency in certain deals, Mounir Fakhri Abd-Nur said.


Gazprombank, Russia's third-largest lender, has offered Egypt to use the Russian national currency in certain deals, Egyptian minister of Industry said Tuesday.


"......

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11 Aug 2015

Egypt committed to paying off oil and gas bills - Sisi

Egyptian President Abdel Fattah al-Sisi said on Monday that his government is "committed" to paying up debts to oil and gas companies "operating on its soil."


The president's statement comes as Egypt tries to attract cash in-flows and foreign investment to repair an"......

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10 Aug 2015

Decision on a pipeline from Aphrodite gas field to Egypt expected soon

The results of a study concerning the transportation of natural gas from Cyprus’ Aphrodite field to Egypt are expected to be ready within the next few days, according to Energy Minister Giorgos Lakkotrypis.


"...

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09 Aug 2015

King & Spalding Represents BW Gas in Egypt FSRU LNG Project

King & Spalding advised BW Gas in connection with its successful tender to provide Egyptian Natural Gas Holding Company ( EGAS ) with LNG regasification services utilizing a Floating Storage Regasification Unit (FSRU) in Ain Sokhna, Egypt.

...

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08 Aug 2015

King & Spalding advices BW Gas in Egypt LNG project

King & Spalding, a leading international law firm, has advised BW Gas in connection with its tender to provide Egyptian Natural Gas Holding Company (EGAS) with LNG regasification services utilising a floating storage regasification unit (FSRU) in Ain Sokhna, Egypt. BW's FSRU, named ‘BW Singapore,’ built at Samsung Heavy Industries (SHI) in...

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05 Aug 2015

Hibiscus Petroleum unit wins concession in Egypt

Hibiscus Petroleum Bhd’s wholly-owned unit, Gulf Hibiscus Ltd, has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi Petroleum Holding Co, an entity of the Egyptian Ministry of Petroleum.


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05 Aug 2015

Egypt Opens Suez Gulf to Oil Prospecting

The Egyptian Government today announced the granting of oil prospecting permits to foreign companies ready to invest more than $110 million US dollars, announced the Ministry of Energy. The biggest area authorized for drilling oil will be a conglomerate of the United Arab Emirates, the Pacific and Malaysia Hibiscus Petroleum, which will invest $68 million dollars...

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03 Aug 2015

Egypt to import 7.79m tonnes of LNG

Egypt expects to import 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said on Saturday.

The government expects to buy 7.79 million tonnes of LNG for $3.55 billion and 6.37 million tonnes of crude oil for $3.51 billion, the ministry said in...

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