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  • Official Gazette publishes Law authorizing Oil Exploration Contracts in Sidi Barrani

    Official Gazette publishes Law authorizing Oil Exploration Contracts in Sidi Barrani

    Monday, 1st March 2021

    President Abdel Fattah Al-Sisi ratified Law No. 159 of 2020 authorizing Minister of Petroleum and Mineral Resources, Tareq El Molla to contract with the Egyptian Natural Gas Holding Company (EGAS), Chevron Egypt Holdings LTD and Tharwa Petroleum Company (S.A.E) for oil and gas exploration in the northern Sidi Barrani. marine area in the Mediterranean Sea, according to Al-Ahram news website.
    quoting the Egypt’s Official Gazette.                 

  • El Molla Signs 9 New Oil and Gas Agreements Worth More than $1B

    El Molla Signs 9 New Oil and Gas Agreements Worth More than $1B

    Sunday, 3rd January 2021

    The Minister of Petroleum and Mineral Resources, Tarek El Molla, has signed 9 new agreements worth more than $1 billion for drilling 17 new exploration wells to search for petroleum and natural gas in Mediterranean, and the Red Sea with six international and Egyptian companies.

  • ICE Signs Deals with US Firms to Use New UAE Murban Crude Futures 

    ICE Signs Deals with US Firms to Use New UAE Murban Crude Futures 

    Wednesday, 11th November 2020

    Intercontinental Exchange (ICE) has signed agreements with American supermajor Chevron, Occidental Petroleum, and leading merchant Trafigura AG to use the upcoming Murban crude futures contract as a pricing benchmark for US sales to Asia.

  • El Molla: Cooperation Essential to Secure Energy’s Future

    El Molla: Cooperation Essential to Secure Energy’s Future

    Wednesday, 11th November 2020

    Cooperation between countries is a must to overcome the Covid-19 pandemic and its repercussions on the energy future to secure energy needs, Tarek El Molla, Minister of Petroleum and Mineral Resources, stated during the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC).

  • Noble Energy Shareholders Approve Chevron Merger 

    Noble Energy Shareholders Approve Chevron Merger 

    Sunday, 4th October 2020

    Noble Energy has announced that shareholders of the Company have approved the pending merger with Chevron Corporation.

  • Chevron Approves $5 B Takeover of Noble Energy

    Chevron Approves $5 B Takeover of Noble Energy

    Tuesday, 21st July 2020

    American supermajor Chevron Corporation has agreed to acquire the remainder of Noble Energy’s shares for a total of $5 billion, or $10.38 per share.

  • House of Representative Approves 12 E&P Bills

    House of Representative Approves 12 E&P Bills

    Tuesday, 7th July 2020

    The Egyptian House of Representative passed 12 exploration and production (E&P) bills that allow the Minister of Petroleum and Mineral Resources to sign contracts with different oil and gas E&P companies.

  • El Molla: New 12 Petroleum Agreements Worth $1 B

    El Molla: New 12 Petroleum Agreements Worth $1 B

    Sunday, 21st June 2020

    The Minister of Petroleum and Mineral Resources, Tarek EL Molla, announced that the new 12 petroleum agreements on which the cabinet has approved, worth minimum $1 billion in addition to $19 billion as a signature bonus for drilling 21 wells.

  • Qatar Petroleum Sells Three Cargoes of Al Shaheen Crude

    Qatar Petroleum Sells Three Cargoes of Al Shaheen Crude

    Sunday, 19th April 2020

    Qatar Petroleum has announced that it sold another three cargoes of al Shaheen crude at a cost of 80 -95 cents per barrel by posting a tender above Dubai quotes.

  • El Molla Announces Bid Round Results

    El Molla Announces Bid Round Results

    Monday, 30th December 2019

    Tarek El Molla, Minister of Petroleum and Mineral Resources, announced on Sunday, December 29th the results of the bid round launched in March of 2019 by the South Valley Egyptian Holding Company for Petroleum (Ganope).