cost cutting | Egypt Oil & Gas

TransGlobe Egypt’s Production Record 12,111 bbl/d in April

TransGlobe Egypt’s production averaged around 12,544 barrels per day (bbl/d) in Q1 2020, while recording approximately 12,111 bbl/d in April 2020.

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.

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.

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.

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.

Undaunted by Oil Prices, UAE Cuts Costs, Registers New Firms

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%.

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