The meeting included representatives from the seven countries of EMGF, comprising Egypt, Cyprus, Greece, Jordan, Italy, Palestine, and Israel along with the EU.

Egyptian Prime Minister Sherif Ismail met with Minister of Petroleum Tarek El Molla to discuss oil affairs.

Average Oman crude oil price increased by 27.8% year-on-year (Y.o.Y), reaching $51 per barrel by end of 2017, from $40 per barrel in the same period of 2017.

The US price of crude oil is hovering under $50 per barrel despite this week's meeting of oil producers in Abu Dhabi to discuss compliance with January's production-cut agreement.

OPEC will not rush into making a further cut in oil output or end some countries' exemptions to output limits.

The Supreme Committee for Turning Egypt into an Energy Hub has had its first meeting.

Abdel Fattah El-Sisi received Eni's CEO, Claudio Descalzi, and Bob Dudley, CEO of BP.

Total's Senior Vice President for Africa, Stanislas Mittleman, stated that the company will invest $100m in Egypt

Egyptian Minister of Petroleum and Mineral Resources Osama Kamal gave a press conference at the meeting of the Organization of Arab Petroleum Exporting Countries (OAPEC), in which he discussed the government's decision to raise the price of fuels and commented on the economic damage faced by the oil and gas industry.