Belayim Petroleum Company (Petrobel) announced streamlining two new natural gas wells in the Mediterranean region with an average production of 390 million cubic feet per day (mmcf/d)Â and 1,300 barrels of condensate per day (bbl/d).
The Former Minister of Petroleum and Mineral Resources, Osama Kamal, said that Egypt get benefit from the oil price decline during the last period by storing sufficient quantities of oil.
US oil trading collapsed on April 20 as the price on the May future contract for West Texas Intermediate (WTI) - that is due to expire on April 21 - fell by over 300%, recording an unprecedented $-37.63 per barrel on April 20 against April 17’s $18.27 per barrel.
Pharos Energy company announced that its board decided to withdraw from the consortium that is evaluating the opportunity of acquiring Shell’s Western Desert Assets.
As of April, Burullus Gas terminated a contract for Transocean’s Deepwater India rig.
Middle East Oil Refinery (Midor) has refined approximately 9.3 million barrels (mmbbl) of domestic and imported crude oil in Q1 2020.
The Egyptian Ethylene and Derivatives Company (ETHYDCO) awarded a consortium of Saipem and Petrojet, a contract for the first polybutadiene plant in Egypt valued at $150 million.
This came during the Minister of Petroleum and Mineral Resources, Tarek El Molla, visit with several official leaders in the petroleum sector to a number of refining projects in Alexandria in which he reviewed the operational programs of the productivity units and the work environment, in addition to the precautionary measurements posted by the country against coronavirus.
President Abdel Fattah Al-Sisi has Instructed to preserve the state's strategic reserves of petroleum products.
The Head of Petrogas Company, Raafat Abdel Hady, said that Egypt is working hard to provide sufficient butane cylinders over the country despite the current situation of coronavirus at a cost of EGP 65.
