PMS, ABL Announce Strategic Rig Movement Partnership for Red Sea

• Sunday, 23rd November 2025
• by Fatma Ahmed

Petroleum Marine Services (PMS) has launched a unified offshore rig movement service covering the Red Sea and Gulf of Suez. PMS launched the service in collaboration with the UK-based ABL Group. This strategic expansi...

GUPCO’s Production Averages at 57,000 bbl During FY 2019/20

• Tuesday, 1st September 2020
• by Editorial Team

Gulf of Suez Petroleum Company (GUPCO) daily production has averaged at around 57,000 barrels (bbl) during fiscal year (FY) 2019/20,  as the company was also able to cut 20% of production cost per barrel last June, Ch...

ExxonMobil to Defer Employer Match to Savings Plans

• Wednesday, 5th August 2020
• by Fatma Ahmed

ExxonMobil announced that it would defer the employer match to retirement savings plans starting from October 2020, according to Reuters. The company referred this decision to the current business environment which pu...

Nigerian Oil Minister: OPEC Must Lower Production Costs

• Thursday, 2nd March 2017
• by

Nigerian Minister of Oil, Emmanuel Ibe Kachikwu said that Members of the Organization of the Petroleum Exporting Countries (OPEC)  must lower production costs to compete better with shale producers, Reuters reported. ...