UK

  • Aggreko Enters the Egyptian Market

    Aggreko Enters the Egyptian Market

    Tuesday, 14th November 2017

    The power-management company, Aggreko, hosted a press conference today and formally announced its entrance into the Egyptian market.

  • UK Providing $97M for the Benban Project

    UK Providing $97M for the Benban Project

    Wednesday, 1st November 2017

    Britain will invest more than $97 million in the Benban Solar Park.

  • UK Approves $117M to Finance Iraqi Power Plants

    UK Approves $117M to Finance Iraqi Power Plants

    Thursday, 10th August 2017
    UK Export Finance, a British agency tasked to promote British exports, will provide $117 million in financing to General Electric and Enka UK for the construction of two gas-powered electricity plants in Iraq.
  • BP Declares 44% Drop in its Profit in Q2 2016

    BP Declares 44% Drop in its Profit in Q2 2016

    Wednesday, 27th July 2016
    BP reported that its profit for the second quarter of 2016 has dropped by 44% to $720m, compared with $1.3b for the second quarter of 2015.
  • Crude Investors Flee to Safety after Brexit

    Crude Investors Flee to Safety after Brexit

    Sunday, 26th June 2016
    The UK’s surprising vote to for Brexit has brought a new level of uncertainty into the markets as investors started to withdraw from the international oil and gas market and the oil prices started to falter. Analysts estimated that crude oil inventories would fall by at least 1.7m barrels, so far, they fell by 0.9m barrels.
  • Nostra Terra to Start Collecting East Ghazalat Revenues

    Nostra Terra to Start Collecting East Ghazalat Revenues

    Wednesday, 22nd June 2016
    UK’s Nostra Terra has confirmed that its subsidiary, Independent Resources Egypt (IRE), has now been formally registered with the Egyptian General Petroleum Corporation and is on track to start receiving revenue shared from its recently acquired stake in the East Ghazalat operations in Egypt.
  • Faroe Petroleum Announces New Oil&Gas Discovery

    Faroe Petroleum Announces New Oil&Gas Discovery

    Monday, 20th June 2016
    The Aberdeen-based Faroe Petroleum has expanded its North Sea assets after discovering a new exploration oil and gas well in the Norwegian North Sea.
  • UK Oil&Gas to Acquire 100% Stake in Weald Basin

    UK Oil&Gas to Acquire 100% Stake in Weald Basin

    Tuesday, 14th June 2016
    K Oil & Gas Investments (UKOG) has announced that it had agreed with Celtique Energie Petroleum and Magellan Petroleum to acquire 100% ownership of the 300 sq km Weald Basin (PEDL234)
  • UK’s Hardy Mulls Abandoning Oilfield in India

    UK’s Hardy Mulls Abandoning Oilfield in India

    Tuesday, 14th June 2016
    UK’s upstream international oil and gas company, Hardy Oil and Gas, has threatened to abandon Puducherry’s PY-3 oilfield if the Indian government and field licensee, the Indian Oil and Natural Gas Corporation (ONGC) fail to honor the production sharing contract.
  • UK Expected to Lay Off 120,000 Oil Workers by End 2016

    UK Expected to Lay Off 120,000 Oil Workers by End 2016

    Sunday, 12th June 2016
    The aftermath of the international downturn in the oil and gas industry, in the UK – which has been struggling with this sector since mid 2014 – is expected to lead to 120,000 job losses in the sector by the end of 2016