- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
services
PAS Expands Fleet, International Operations in 2024
Chairman of Petroleum Air Services Company (PAS), Ihab Abd Al-Maksoud, reviewed the most significant results achieved by the company during 2024. He explained that along with the company's existing contracts with its oil and gas clients for both helicopters and fixed-wing aircraft, this year also saw the signing of new contracts, as well as the renewal and extension of other ones using the company's fleet of 39 aircraft (31 helicopters of various models and eight fixed-wing aircraft).
Tanks
Iran's Boosts Oil Storage Capacity with 2M barrels
Iran, one of the largest oil exporting countries and a key player in the Organization of the Petroleum Exporting Countries (OPEC), has recently increased its oil storage capacity by adding 2 million barrels, after starting the operation of two tanks that have been upgraded at the Kharg oil terminal in the operational zone.
Sukari Gold Mine
$2bn Sukari Gold Mine Poised for Growth: Madbouly
The deposits in Sukari Gold mine (SGM) are expected to exceed the initial estimates as shown by recent prospecting studies, Prime Minister Mostafa Madbouly stated following his two-day field visit to the mine in Marsa Alam, Red Sea governorate. The total investment in Sukari over the past decade exceeded $2 billion, with mining equipment alone valued at $235 million, including cranes, crushers, heavy machinery, and mobile facilities, according to Madbouly.
Turkey
Turkey Makes a $30bn New Gas Discovery in the Black Sea
Türkiye has made new natural gas discovery in the Black Sea with reserves amounted to 75 billion cubic meters (bcm).
Investments Opportunities
Egypt Showcases Investment Opportunities at Africa Energies Summit in London
Representatives of the Egyptian petroleum sector participated in the Africa Energies Summit, held in London from May 13 to 15. They showcased the investment opportunities the sector offers together with incentives the government grants to investors in the oil and gas deals
Mining
Madbouly Inspects Sukari Gold Mine, Reveals Plans to Develop the Mining Sector
Prime Minister, Mostafa Madbouly conducted a site visit to Sukari Gold Mine (SGM) in Marsa Alam, where he met with executives from AngloGold Ashanti,co-owner of SGM, alongside Minister of Petroleum and Mineral Resources Karim Badawi, geological experts, and parliamentary representatives. The visit aimed to follow up work in the mine and review future expansions, and investment opportunities in Egypt’s mining sector.
ADNOC
Egypt's Modern Gas Completes Major Project in UAE
Modern Gas, an Egytian joint stock company with operations in both Saudi Arabia and the United Arab Emirates (UAE), announced the successful completion and operation of its integrated natural gas project in Al Jubail Island in Abu Dhabi, UAE.
Saudi Arabia-US Deals
Aramco Signs $90bn in Agreements with US Companies During Trump Gulf Tour
Aramco, the Saudi oil giant, signed 34 Memoranda of Understanding (MoUs) and agreements totalling $90 billion with major US companies on the fringe of US President Trump's tour in which Saudi Arabia was the first stop.
