drilling | Egypt Oil & Gas - Part 26
Shale Stocks Drop as Major US Investor Criticizes Industry
Money manager David Einhorn slammed the shale drilling industry that ushered in a new era of U.S. oil production as wasteful, expensive and a terrible investment.
US Rig Count Declines
U.S. oil companies sidelined 24 oil-drilling rigs this week, according to Baker Hughes’ rig count released Friday, bringing the count to its lowest point since October 2010.
Italy’s Eni Posts Better Than Expected Profits for First Quarter
Eni SpA first-quarter profit beat analyst estimates as improved performance at its refining and gas businesses and a lower tax rate helped Italy’s largest oil company offset lower crude prices.
Major French Oil Company Total Reports Earnings; Drop in Profit
French oil major Total reported a smaller-than-expected 22 percent drop in first-quarter net profit on Tuesday, helped by rising refining margins and sharp growth in oil and gas production that partly offset lower cr ...
Texas Investigates Wells Linked to Seismic Activity
The Railroad Commission of Texas has directed the Commission’s Hearings Division to initiate proceedings requiring the operators of two disposal wells in the area of Azle, Texas to show cause why the injection permit ...
Brazil’s Petrobras on the Road to Recovery, but Challenges Remain
Petroleo Brasileiro SA’s new chief executive officer is close to overcoming his first major hurdle: getting auditors to approve financial results.
Ghana Not to Drill New Oil Wells in Disputed Area
Ghana can’t drill new oil wells in a disputed sea area with Ivory Coast, according to a special tribunal. The order may impact producers, including Tullow Oil Plc.
BP to Start Investing in Egyptian Gas Project This Year Says CEO
British Petroleum (BP) will start investing in a gas project in Egypt’s Nile Delta this year, Sputnik News quoted Group CEO Robert Dudley as saying.
