Dana Petroleum plc (''Dana'') is pleased to announce that The Egyptian Ministry of Petroleum has approved ''Petro Kareem'' - a new joint venture between Dana and the Egyptian General Petroleum Corporation.
French energy company Total is on the verge of signing a contract with the Egyptian Petrochemicals Holding Company to establish a US$3 billion plant for the production of olefins by steam cracking of natural gas, said a Petroleum Ministry official.
Petroleum Minister Eng. Abdullah Ghorab stressed the importance of maintaining oil production and attracting more investments as well as signing more agreements to intensify operations of prospecting for oil and gas.
German utility RWE has earmarked oil and gas assets in Egypt for sale in a bid to shore up its finances as Germany moves to exit nuclear energy, the Financial Times reported.
CROSCO Integrated Drilling & Well Services Co., Ltd. is pleased to announce the commencement of drilling services for SIPETROL INTERNATIONAL S.A. Egypt Branch.
Dara Petroleum Company (Petrodara), a subsidiary of TransGlobe drilled new development well Hoshia-14, in the Hoshia North field, onshore the Gulf of Suez Basin.
Canada's Methanex Corp, the world's largest methanol supplier, said it will shut down its plant in Egypt due to political unrest in the country, sending its shares down 2 percent.