• Crude Oil (WTI) 79.62 USD/bbl -3.95%
  • Crude Oil (Brent) 85.62 USD/bbl -3.70%
  • NYMEX Natural Gas 6.87 USD/MMBtu -8.16%
  • OPEC Basket Price 91.00 USD/bbl -5.06%
Shell

Shell, Aramco CEOs Warn of Difficulty in Reversing Tight Global Oil Supply

The chief executive of Saudi Aramco said that the oil market is not paying attention to the fact that the world's spare capacity to increase oil output is very low, and the chief executive of Shell claimed that investments will not change because of the high price of oil.

Tarek El-Molla

El Molla Participates in Setting the Foundation Stone Ceremony of Bambino Gesu Hospital

Having accepted the invitation of Italian Ambassador to Egypt Michele Quaroni, Minister of Petroleum and Mineral Resources Tarek El Molla participated in setting and signing the foundation stone for the branch of Italy’s “Bambino Gesu” hospital for genetic diseases at the New Administrative Capital.

Decarbonization

TotalEnergies, Holcim Ink MoU to Explore Solutions for First Carbon-Free Cement Plant in Belgium

TotalEnergies and Holcim signed memorandum of understanding (MoU) to collaborate on the full decarbonization of a cement production facility that Holcim is upgrading in Obourg, Belgium.

Egypt

El Molla: Egypt Keen to Boost Joint Investment Cooperation with Kuwait

Minister of Petroleum and Mineral Resources, Tarek El Molla, pointed out Egypt's keenness to expand the base of joint investment cooperation with Kuwait in the oil and gas sector in its various activities, including research, production, refining and distribution, the ministry said in a statement.

Tarek El-Molla

 El Molla Inaugurates New “Oasis” Fuel Station on Cairo – Alexandria Road

The Minister of Petroleum and Mineral Resources Tarek El Molla has inaugurated new “Oasis” fuel station which is affiliated to Total Energies at Cairo – Alexandria Road with investments worth EGP 18 million.

Egypt

Madbouly Reviews Petroleum Sector Measures to Secure Local Market Needs

Prime Minister Mostafa Madbouly met with Tarek El Molla, Minister of Petroleum and Mineral Resources, to follow up on the availability of petroleum products to meet the needs of the local market, especially in light of the continuing repercussions of the global crisis due to the Russian-Ukrainian conflict.

meeting

El Molla, AlKhorayef Explore Petroleum Cooperation Opportunities, Improving Brownfields

Minister of Petroleum and Mineral Resources Tarek El Molla has met with the CEO of AlKhorayef Group, Saad AlKhorayef to explore potential cooperation opportunities and enhance partnership in the petroleum industry.

production

OPEC+ Considers Cutting Oil Production by Over 1 mmbbl/d

According to OPEC sources, OPEC+ may consider reducing oil production by more than 1 million barrels per day the following week in order to address the weakness in oil market. This would be the largest action taken since the COVID-19 crisis, Reuters reported.

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