GCC | Egypt Oil & Gas
Gazprom Constructs Complex for Processing Ethane-Containing Gas
Gazprom has begun construction on the Complex for processing ethane-containing gas (CPECG) near the settlement of Ust-Luga in the Leningrad Region, according to Gazprom’s press release. The CPECG is the world’s ...
Oil Prices Surge on Geopolitical Tensions in Middle East
Recent incidents in the Arabian Gulf led to global oil prices rising to their highest level in two weeks. On Tuesday, May 14, two pump stations on the Saudi East-West pipeline, which transports oil from the Eastern Pr...
Kuwait, Iraq to Study the Development of Shared Oil Fields
Kuwait and Iraq plan to appoint consultants to study the development of shared oil fields, as a solution to long-standing tensions over cross border oilfields, Reuters reported. Kuwaiti oil minister Bakhit al-Rashidi ...
Petrofac Awarded $580 M Contract with GCC National Oil Company
UAE-based Petrofac announced the signing of a binding letter of intent for an engineering, procurement, and construction (EPC) contract with a Gulf Cooperation Council (GCC) national oil company worth $580 million, WA...
Egypt Has LNG Requests Rejected by Qatar
Qatar has truned down third-party requests of liquefied natural gas (LNG) supplies to Egypt, LNG Industry informed. The Gulf country provides around 60% of Egypt’s LNG imports, but trade relations have been shak...
Kuwait Approves Petrol Price Hike
Kuwait has approved an increase in prices of gasoline sold locally by 42% to 83% depending on the grade in an attempt to align local rates with GCC averages, Bloomberg reports. The price increase will start as of Sept...
GCC Members Seek to Revive Oil Output Deal
Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers on next meeting, a senior OPEC source said to Reuters, but he added that Iran is not ready fo...
GCC Targets 10GW Renewables Expansion by 2020
The GCC’s solar capacity is expected to reach 10GW by 2020, representing a market opportunity of at least $10b, according to experts from the International Renewable Energy Authority (Irena), who were cited by Trade A...
