BG Group Plc, the second U.K. oil and gas producer to issue a profit warning this month, said output will drop this year as political turmoil cuts exports from Egypt and other projects are delayed. The shares plunged.
On December 5th Engineer Sayed Rezk, Sipetrol's Deputy General Manager and PetroShahd's General Manager has been appointed to be the General Manager of Sipetrol International S.A- Egypt Branch.
The Egyptian Ministery of Petroleum has signed the Concession Agreement for the East Ras Budran Offshore area. RWE Dea is the operator, holding a share of 80%. The company plans a 3D seismic survey and one exploration well during the first three-year exploration period.
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).
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.
Egypt is not interested in importing gas via pipeline from Israel and instead is focusing on a plan to import liquefied natural gas, a top Egyptian state executive said.
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.
Tunisia is proving a more reliable place to produce natural gas than Egypt as the smallest nation on the North African coast pays its fuel bills on time, a BG Group Plc (BG) executive said.
BP Egypt announced on Saturday a significant gas discovery in Salamat well which is the first well in the North Damietta Offshore Concession granted in February 2010 and operated by BP.