Mozambique Bid Rounds Halted Due to Unclear Rules

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Mozambique, site of the biggest natural-gas discovery in a decade, may have to delay its petroleum licensing round because the rules haven’t been clarified, according to the country’s Center for Public Integrity.

OPEC Expects US Shale to Decrease in Coming Year

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

US shale oil producers could reduce output late this year if low oil prices continue, according to a new report from the Organisation of Petroleum Exporting Countries (Opec).

Acquisitions Wave Hits Upstream Oil, Gas Data Management

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

SpeedCast International Limited has signed a definitive agreement for the acquisition of Hermes Datacommunications International Ltd, a leading global provider of managed network services for the upstream oil and gas industry.

KBR Wins Six-Year Offshore Contract from Aramco

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

KBR has been awarded a project management contract by Saudi Aramco to provide project management services for Saudi Aramco’s offshore programme.

GE Investments to Help Saudi ‘Vision 2024’ Diversification Plan

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

GE has announced $100 million in new programmes that will further the company’s localisation efforts, build innovation capacity, and create jobs in advanced manufacturing and software analytics.

Iran: Expanding Energy Cooperation with Strategic Partners After Sanctions

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Iran’s Minister of Petroleum Bijan Namdar Zangeneh has described energy cooperation with China as “a strategic decision,” reiterating that Tehran is ready to expand ties with Chinese companies after anti-Iran sanctions are lifted.

Oil Prices Force Kuwait’s Hand Over Corporate Tax, Talking to IMF

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Kuwait has sought help from the International Monetary Fund (IMF) to introduce corporate taxes in a bid to diversify revenue in the face of falling oil prices, a senior government official said.

Coal Power Generation Coming to Egypt from Abu Dhabi

• Monday, 16th March 2015
• by Egypt Oil & Gas

A consortium of Orascom Construction and Abu Dhabi-based International Petroleum Investment Company (IPIC) has been awarded a contract to build a coal-fired power plant in Egypt.

Oil Oversupply Not Helping Old Tankers As Originally Anticipated

• Monday, 16th March 2015
• by Egypt Oil & Gas

As tanker owners with aged VLCC tankers were looking for an opportunity in the scrap market, in order to send their vessels for demolition, the opportunity of floating storage plays rose, giving those older ship another lifeline

Son of Ex-President Rafsanjani, Former Oil Official Found Guilty

• Monday, 16th March 2015
• by Egypt Oil & Gas

An Iranian court handed down a 15-year prison sentence to the son of former President Ali Akbar Hashemi Rafsanjani, after he was convicted of bribery and embezzlement, a judiciary official said on Sunday.