Algeria bans major stakes for foreigners

• Monday, 13th October 2008
• by Egypt Oil & Gas

Algeria will renegotiate energy projects currently being developed with foreigners to ensure that the Algerian partner has a majority stake, official media reported Energy and Mines Minister Chakib Khelil as saying.

OPEC to Discuss Production Cut at November Meeting

• Sunday, 12th October 2008
• by Egypt Oil & Gas

OPEC will discuss "cutting production" in its extraordinary meeting in November if it saw it as necessary to balance demand and supply, Qatar's Oil Minister Abdullah al-Attiyah told Al Arabiya television.

Oil prices dive to one-year lows as stock markets slide

• Sunday, 12th October 2008
• by Egypt Oil & Gas

Oil prices slumped Friday to one-year lows under $80 per barrel, striking $75 in London, amid a global equities meltdown that sparked fears over demand for energy, traders said.

Iran seeks investment for refinery projects

• Sunday, 12th October 2008
• by Egypt Oil & Gas

Iran is looking for domestic and foreign investment in a $25-billion (Dh92 billion) scheme to double oil and gas refining capacity by 2015, Oil Minister Gholamhossein Nozari said.

Gulf states need worry only if oil falls below $30

• Sunday, 12th October 2008
• by Egypt Oil & Gas

Last week the world bourses experienced almost a complete meltdown. If it had happened in just one day rather than five days it would be seen for what it is: a crash. Trillions of dollars have been wiped off the books, affecting every person and every future. On the New York Stock Exchange it had the worst week in its long history. This is panic.

Dana Gas and Crescent Petroleum Announce First Gas in Kurdistan Region of Iraq

• Tuesday, 7th October 2008
• by Egypt Oil & Gas

Dana Gas PJSC, the Middle East’s first regional private-sector natural gas company, and its partner Crescent Petroleum, the Middle East’s oldest private oil and gas company, have today announced the start-up of natural gas production, processing and transportation by pipeline in their major joint project in the Kurdistan Region of Iraq.

Aker Solutions delivers process systems to Brazil

• Tuesday, 7th October 2008
• by Egypt Oil & Gas

Aker Solutions has been awarded a contract with Modec for the delivery of topside Seawater Treatment and Sulphate Removal module for the "Tupi Pilot" project on the Brazilian Tupi field.

RWE Makes Eighth Oil Discovery in Libya

• Tuesday, 7th October 2008
• by Egypt Oil & Gas

In addition to NOC's announcement on September 29, 2008, RWE Dea announced that its exploration success has reached a total of six discoveries in Concession NC 193. The well G1-NC 193 encountered oil in the Upper Satal Formation at a depth of 4631 to 4661 ft.

BP in biggest slump in six years as oil futures decline

• Tuesday, 7th October 2008
• by Egypt Oil & Gas

BP, Europe's second-largest oil company, slumped the most in almost six years in London trading as crude prices extended their decline. Royal Dutch Shell, the continent's biggest producer, had the biggest drop in eight months.

Spectrum and Fugro announce joint west coast of India acquisition

• Monday, 29th September 2008
• by Egypt Oil & Gas

Spectrum and Fugro have announced a joint proposal to undertake a new multi-client, long offset, 2D seismic survey off the west coast of India at the Geo India Conference and Exhibition at Greater Noida, New Delhi.