Egypt has agreed a timetable to pay $3 billion of the $6.3 billion it says it owes foreign oil companies, the state news agency reported, as part of the drive to revive confidence in its economy hammered by nearly three years of political turmoil. ...read more
Dragon Oil plc, an international oil and gas exploration, development and production company, is pleased to announce that we have been notified by Ganoub El Wadi Holding Petroleum Company (Ganope). ...read more
Methanex Corporation has agreed to sell an approximate 10% equity share in Egyptian Methanex Methanol Company S.A.E. (EMethanex) to Arab Petroleum Investments Corporation (APICORP) for $110 million. ...read more
Should the Egyptian military provide protective security details for oil and gas operations in the Sinai and Suez regions?
Libya has blocked efforts by U.S. company Marathon Oil to sell its stake in one of the country's top oil ventures by moving to preempt a deal, sources said, highlighting the struggle investors face in cutting exposure to Libya's unrest. more...
Cairn is pleased to announce it has entered into a farm-in agreement with Kosmos Energy and the Moroccan National Oil Company (ONHYM) for a 20% non-operated interest in an exploration block offshore North West Africa which is scheduled for drilling in H2 2014. more...
Dana Gas, the Middle East's leading regional private sector natural gas Company, and Crescent Petroleum, the oldest private oil and gas Company in the Middle East, have announced the achievement of five years of continuous production in their major operations in the Kurdistan Region of Iraq. more...
Since the toppling of Mubarak, Egypt’s energy sector has been in a perpetual state of disarray. The sector has suffered from declining production, pipeline attacks, an unsustainable subsidy system, and mounting debt. The current transitional government faces the daunting task of restoring the sector. One of the biggest hurdles is the government’s USD 6.2 billion debt to IOCs