crude oil | Egypt Oil & Gas - Part 7
Saudi Aramco to Provide 8.5 mmbbl/d of Crude Oil
Saudi Aramco announced that it will provide its customers with 8.5 million barrel per day (mmbbl/d) of crude oil starting from May 2020, according to a statement issued by the company. OPEC and OPEC+ agreed on April 1...
Midor Refines 9.3 MMBBL of Crude in Q1 2020
Middle East Oil Refinery (Midor) has refined approximately 9.3 million barrels (mmbbl) of domestic and imported crude oil in Q1 2020, according to a press release. Gamal ElKareish, Chairman and CEO of Midor, stated th...
Alexandria Petroleum to Refine 4.9 MM Tons of Crude in FY 2019/20
The Chairman of Alexandria Petroleum Company, Medhat Bahgat, said that his company is targeting to refine 4.9 million tons of crude oil during the current fiscal year (FY) of 2019/2020, noting that it has already achi...
CBE Announces Balance of Payments for H1 2019/20
Egypt’s balance of payments ran an overall surplus of $410.9 million in H1 2019/20 compared to an overall deficit of $1.8 billion in the same period in FY 2018/19, according to the Central Bank of Egypt (CBE). Despite...
Qarun to Save $12.6 MM by Reduction of Production Costs
Qarun Petroleum aims to save $12.6 million by reduction of production costs in its concession areas in Egypt, during the H2 2019/20, according to Al Mal. It is noteworthy that Qarun has succeeded in reducing productio...
Energy Sector Completes 156 Projects in H1 2019/2020
The Ministry of Planning and Economic Development (MPED) has published a report of the H1 2019/20 outcomes of the Ministries of Electricity and Petroleum and Mineral Resources, indicating that the energy sector has co...
Crude Oil Reaches the Lowest Level Since 2003
Crude oil prices plunged under $25 a barrel for the first time since 2003 in London and dropped 24% in New York, after Saudi Arabia’s announcement to keep record high production over the coming months, according...
Saudi Arabia’s Crude Exports Stand at 7.37 mmbbl/d
Saudi Arabia’s crude exports stood at 7.373 million barrels per day (mmbbl/d) in December 2019, according to Reuters. The kingdom’s crude production declined to 9.594 mmbbl/d in December, in comparison to 9.890 ...
