GUPCO Follows Up on Ras Shouqair’s Production Processes

Khaled Hemdan, the Gulf of Suez Petroleum Company's (GUPCO) Chairman, went to Ras Shouqair on a visit to follow up on the production processes and be updated about the company’s plans to raise Ras Shouqair’s produ ...

Petroleum Arrows to Raise Product Distribution by 5%

Petroleum Arrows aims to increase the distribution rate of the industrial gases, ammonia and high-grade propane, and transporting the petroleum products with 5% by the end of Q4 in 2019.

GUPCO’s Crude Oil Production Reaches 61,700 b/d

The Gulf of Suez Petroleum Company’s (GUPCO) average production level from its Ras Shouqair crude oil field has reached around 61.7 thousand barrels per day (b/d) in fiscal year (FY) 2018/19.

Dragon Oil Acquires BP’s Stake in GUPCO

Dragon Oil has reached a full agreement with BP for the acquisition and the deal is expected to be completed after obtaining the Egyptian Ministry of Petroleum’s approval in H2 2019 following the necessary procedu ...

GUPCO Deal to Add 70,000 b/d to Dragon Oil Portfolio: CEO

The $600 million transaction is a part of Dragon Oil's $13 billion expansion plans, of which $500 million are allocated for acquisition transactions in 2019.

BP Seeks Approval to Sell GUPCO’s Stake

The Ministry of Petroleum will issue the approvals after Dragon Oil confirms its commitment to the new terms of agreement with BP in GUPCO's concessions.

GUPCO to Invest $503M in FY 2019/20

The investments will be directed to several projects during fiscal year (FY) 2019/20, most importantly two exploration projects in cooperation with the Egyptian General Petroleum Corporation (EGPC) and WesternGeco ...

El Molla Announces Ministerial Promotions

Egypt's Minister of Petroleum, Tarek El Molla, has announced new promotions and transfers for senior positions in the Ministry of Petroleum.

GUPCO Crude Production Hits 71,000 b/d in FY 2017/18

The Gulf of Suez Petroleum Company's (GUPCO) produced an average of 71,000 barrels per day (b/d) of crude oil and condensates in fiscal year (FY) 2017/18 from its field in the Gulf of Suez.

BP to Sell Stakes in GUPCO

BP intends to sell its stakes in the Gulf of Suez Oil Company (GUPCO), banking sources have said.

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