cost cutting | Egypt Oil & Gas
TransGlobe Egypt’s Production Record 12,111 bbl/d in April
TransGlobe’s production in Egypt averaged around 12,544 barrels per day (bbl/d) in Q1 2020, while recording approximately 12,111 bbl/d in April , according to a statement. The company’s total production in Q1 20...
Aramco Will not Reduce Oil and Gas Investments
Saudi Aramco announced that it would not reduce its new investment in oil and gas production capacity despite the financial strain caused by low oil prices, reported Reuters. Aramco’s Chairman, Khalid al-Falih, ...
Fears that Dana Gas Losses May Affect Egypt Investments
UAE-based Dana Gas announced a $7.6m loss in the third quarter of 2015. The company operates mostly in Egypt and Iraq. In the same period last year, the company recorded a profit of $37.7m, reported Bloomberg. The com...
Dana Gas Making Cutbacks After $9m Oil Prices Loses
The UAE’s Dana Gas reported third quarter gross revenue of $93m as compared to $174m and an overall net loss of $9m, reported Gulf News. This is versus a net profit of $38m in the third quarter 2014, principally due t...
Oil Prices Slow Down Saudi Oilfield Expansion
Saudi Arabia is moving ahead with the expansion of its giant Khurais oilfield but the project would move slower than originally planned because of budgetary reasons, reported the Saudi Daily Record. Saudi Aramco has s...
Undaunted by Oil Prices, UAE Cuts Costs, Registers New Firms
Reuters reported that Abu Dhabi National Oil Company (ADNOC) is looking to take advantage of market conditions and bring down the operating cost of its projects by 25%, said Ali Khalifa al-Shamsi, ADNOC’s strate...Page 1 of 1
