The energy sector is at the heart of the legislation and measures to address the coming global economic slowdown. Various energy sources, especially fossil fuels, are central to economic development for all countries around the world.
Increasing geopolitical uncertainty and rising inflation are among the biggest risk factors for businesses in 2023 and despite the optimistic OPEC outlook for growth of global oil demand in 2023, energy market dynamics remain haunted by these ongoing risks for another year to come.
ExxonMobil has sold its stakes in Esso Thailand which includes the Sriracha Refinery, select distribution terminals, and a network of Esso-branded retail stations, delivering on its commitment to strengthening value and overall competitiveness. ExxonMobil’s affiliate, ExxonMobil Asia Holdings Pte. Ltd, which holds a 65.99% interest in Esso Thailand, will be responsible to execute this transaction.
With the global energy transition underway, the 6th edition of the Egypt Petroleum Show (EGYPS) returns to Cairo from 13-15 February 2023 at the Egypt International Exhibition Center to propel the dialogue on energy security and climate action through collaborative industry efforts.
The House of Representatives approved the report on a draft law licensing the Minister of Petroleum and Mineral Resources to contract with the Egyptian General Petroleum Corporation (EGPC) and IEOC Production B.V.
U.S. liquefied natural gas (LNG) developer NextDecade Corp (NEXT.O) declared it will increase the volume of LNG supplies in a sales and purchase agreement signed with China's ENN Natural Gas Co. Ltd. (600803.SS).
Egyptian natural gas exports surged to a record 8 million tons in 2022, compared to about 7 million tons in the previous year, the Ministry of Petroleum and Mineral Resources said in a statement about 2022 achievements and milestones.
Minister of Petroleum and Mineral Resources Tarek El Molla announced the launch of a new international bid to search for natural gas and crude oil in 12 regions in the Mediterranean and Nile Delta, including six offshore and six onshore regions, through the Egyptian Upstream Gateway (https://eug.petroleum.gov.eg).
The Saudi Energy Ministry said on Twitter that Saudi Arabia and Japan have signed a memorandum of cooperation (MoC) in the areas of the circular carbon economy, carbon recycling, clean hydrogen, and fuel ammonia.
President Abdel Fattah Al-Sisi has urged to intensify efforts for expanding oil and gas exploration areas in fEgypt for optimum economic and developing use of Egypt’s resources, maximizing the added value of natural gas, meeting domestic demand and export the surplus.
