Oil futures are up this morning on concerns that political unrest in Egypt could spread to other oil-producing countries in the Middle East and north Africa.
Egyptian gas supplies to East Mediterranean Gas and its clients in Israel are expected to resume by March 4, Ampal-American Israel Corp said on Sunday.
Geneva-based Socar Trading S.A., a trade house founded by the State Oil Company of Azerbaijan, continues considering operations with Egypt attractive despite the recent political events in the latter.
Russia's No.2 oil producer, LUKOIL, hasn't decreased oil output in Egypt despite political unrest in the country, the company's head told reporters on Friday.
BGP is conducting a very complex 2D TZ seismic survey in the Red Sea. The complicated terrains include populous city and town, muddy beach, shallow water island, coral reef, offshore ports, and areas near offshore oilfield infrastructure.
Protesters throughout the Middle East and northern Africa are pressing their governments for reforms. But the U.S. military is keeping an especially close watch on two countries: Egypt and Bahrain.
Egypt's military rulers swore in a new Cabinet on Tuesday. Energy veteran Eng. Mahmoud Latif, formerly known as the head of the Egyptian Natural Gas Holding Company (EGAS), became the new Petroleum Minister.
Mohamed Ibrahim Tawilla, head of the East Mediterranean Gas Company (EMG), which supplies natural gas from Egypt to Israel, denied rumors that he had resigned from the company.