Minister of Petroleum and Mineral Resources Tarek El Molla has discussed ways of exploration and production (E&P) cooperation with Chevron company during the upcoming period in a number of areas at the Red Sea and the Mediterranean.

Minister of Petroleum and Mineral Resources, Tarek El Molla, said that Egypt’s oil sector is  currently working on expanding its reliance on the digital technology in the upcoming petroleum projects and that the petroleum sector has unique chances for international partnerships in projects based on modern technology.

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