This comes as the Ministry of Petroleum and Mineral Resources announced the sector's achievements during the period from July 2014 to June 2022. The sector's milestones include the launch of 10 international bids during that period to search for oil and gas in the onshore and offshore areas in the Mediterranean, the Red Sea, the Delta, the Western and Eastern Deserts, the Gulf of Suez and Upper Egypt.
Reuters reported on Tuesday that China has issued 4.5 million tonnes of export quotas for refined fuel, an increase to the first issue for 2022 in order to ease domestic inventories after the COVID-19 lockdown hit demand.
A parliamentary document reviewed by Reuters shows that Kuwait Petroleum Corporation plans to borrow up to $1 billion from banks including HSBC and JPMorgan.
Eni and Repsol could begin shipping Venezuelan oil to Europe as soon as next month to replace Russian crude, five people familiar with the matter say, resuming oil-for-debt swaps that were suspended two years ago when Washington tightened sanctions against Venezuela.
Saudi Arabia, the world's largest oil exporter, hiked July crude oil prices for Asian clients to higher-than-expected levels, citing constrained supply and anticipation of high demand this summer.
Hammerfest LNG has resumed production after extensive repairs and improvements following the fire in September 2020.
ADNOC Logistics & Services (ADNOC L&S), Abu Dhabi National Oil Company's (ADNOC) shipping arm and the largest shipping company in the region, has decided to acquire three additional liquefied natural gas (LNG) vessels.
As Egypt walks down the path towards a greener future, the country has launched the National Climate Change Strategy 2050 and is adopting different initiatives to ensure their strategic targets are achieved.
The UK North Sea licence areas of i3 Energy have chosen Petrofac to provide well engineering, well operations, and well operator services.
Minister of Petroleum and Mineral Resources, Tarek El Molla, highlighted the importance of the reform measures taken by Egypt, adding that their results were evident in dealing with the current global crisis resulting from the Russian-Ukrainian crisis.
