exit | Egypt Oil & Gas
UAE Exits OAPEC After Leaving OPEC and OPEC+
The UAE has announced its departure from the Organization of Arab Petroleum Exporting Countries (OAPEC), Reuters reported, citing a statement from the intergovernmental alliance released on Sunday. OAPEC, founded in 1...
Macquarie Pulls Out of Kuwait Pipeline Bid as Gulf Tensions Rise
Australia’s Macquarie Group has withdrawn from a planned bid for a stake in Kuwait’s oil pipeline network, a deal valued at approximately $7 billion, according to sources familiar with the matter. As reported by...
bp Exits Dutch Retail Market in Major Deal with Catom
As part of its $20 billion divestment program, bp is exiting the Netherlands’ retail market through an agreement to sell its Mobility & Convenience and bp pulse operations there to Catom. According to the company’...
TotalEnergies Exits Some Blocks Offshore South Africa
TotalEnergies has announced its withdrawal from Blocks 11B and 12B off the southern coast of South Africa, in which its affiliate TotalEnergies EP South Africa has exited holds a 45% interest. This followed the decisi...
Shell to Exit European Home Retail Energy Businesses
Shell announced that it will exit home retail energy businesses in Britain , Germany, and Netherlands due to “tough market conditions” stated Wael Sawan, Shell’s CEO, Reuters reported. “That review has now concl...
ExxonMobil Intensely Working Through Options for Exiting Russian Venture
ExxonMobil is currently working through options on how to proceed to withdraw from its Russian venture, the company’s Senior Vice President Neil Chapman told Reuters. “We are working through these options now, aggress...
PTTEP, Chevron Acquire Shell’s Stake in Myanmar
PTTEP International, a subsidiary of the Thai national energy company PTT, confirmed its decision to take over the operatorship of Yadana and MGTVC in addition to TotalEnergies’ share in Yadana. This decision wa...
Equinor Affirms Its Compliance with Russian Oil Sanctions
In opposition to Russia’s invasion, Equinor has announced that it will not enter into any deals related to trading or transporting oil and oil products from Russia. This announcement came following the previous ...
