Japanese trading firm Mitsui & Co is almost ready to make a final decision to join a new Russian operator for the Sakhalin-2 liquefied natural gas (LNG) project, according to Reuters based on a report from Nikkei newspaper.
In the implementation of the state's directives to expand the use of prepaid meters in all state utilities to raise the efficiency of collecting state dues, about 1.4 million meters have been installed so far.
Baker Hughes announced an agreement for its acquisition of Quest Integrity, a subsidiary of Team, Inc and a global leader in the development and delivery of technology-enabled asset inspection and reliability management solutions across the pipeline, refining, petrochemical and power generation sectors.
The cost of light crude oil, heavy crude oil, and Forouzan crude for sale in September has been fixed by the NIOC's international affairs division at $9.50, $6.30, and $6.40, respectively, over the average oil price between Oman and Dubai.
A ceremony was held in Lithuania to mark the commencement of construction of PC ORLEN Lietuva’s new Residue Conversion Unit at Mažeikiai Refinery, the only crude oil refinery in the Baltic States.
Minister of Petroleum and Mineral Resources Tarek El-Molla confirmed that more than 1,450 villages in the governorates of the country will benefit from the natural gas delivery projects implemented by the petroleum sector within the first phase of the Haya Karima (‘Decent Life’) initiative to develop Egyptian rural villages launched by President Abdel Fattah El-Sisi.
According to a statement released by the Nigerian government, Nigeria’s President Muhammadu Buhari has approved Seplat's purchase of ExxonMobil's Nigerian subsidiary, Reuters reported.
bp has agreed to sell its 50% stake in the bp-Husky Toledo Refinery in Ohio to Cenovus Energy Inc., its joint venture partner.
Over the past few years, Egypt has been working on its assets and potential to cope with global changes. Despite challenges like the Coronavirus and the Russian attack on Ukraine, the Egyptian oil and gas sector has proved worthy of investments as it has made worth-noting achievements thanks to the efforts exerted to develop this sector.
With the Russia-Ukraine war raging on, economists have been thrown into unchartered waters as the conflict rewrites all the energy market’s financial equations. The war has forced global energy prices to go through the roof, creating one of the most daunting economic crises the world has ever seen. With the world’s economy in flux and gas-starved Europe bracing itself for a long winter, corporate leaders, government officials, and the world’s top experts have been hard at work to implement a strategy that can help navigate the world out of this deep abyss, but crisis management is a complex science with its different opinions and approaches. In the world of energy economics, taking the right measures to counter a negative trend is a key part of mitigating its fallout. And for many economists, hedging does just that.
