oil market | Egypt Oil & Gas
El Molla Discusses Developments in Oil Markets with OPEC Secretary General
In a meeting held on the sidelines of his participation in the World Economic Forum in Davos, Minister of Petroleum and Mineral Resources Tarek El Molla expressed Egypt’s appreciation to OPEC Secretary-General Mohamma...
Saudi Aramco’s Profit Declines 73% in Q2
The major Saudi oil company, Aramco reported that its profit declined by 73% to 24.6 billion riyals in the second quarter of 2020 compared to 92.6 billion during the same period of the previous year , due to the drop...
Six Arab Countries Reassert Compliance to OPEC+ Deal
The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain re-affirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets, according to ...
Brooge Energy Delays Issuance of Dividends
Brooge Energy Limited, a midstream oil storage and service provider in the UAE, has announced a delay in the issuance of dividends due to market uncertainty, according to a press release. Brooge has many of projects i...
Algeria Unaffected by Fall in Oil Prices
Algerian Minister of Energy, Mohamed Arkab, said that Algeria has the means and resources necessary to overcome the world oil crisis and that the recent fall in oil prices has not impacted Sonatrach’s activity, accord...
Libya’s Disruptions Not to Affect Global Oil Market
Despite having some disruptions in Libya’s oil market, the global market will not be affected, according to The Business Times. Oil prices fell on January 21 on the notion that a well-supplied global market would be a...
OPEC Forecasts Lower Demand for Crude Oil
The Organization of Petroleum Exporting Countries (OPEC) forecasts a lower demand for its crude oil despite the global demand increase after the US-China trade deal, according to Reuters. OPEC has anticipated a declin...
Oil Market to Balance by End-2019
The international oil market is expected to achieve balance by the end of 2019, yet the Organization of the Petroleum Exporting Countries (OPEC) will continue to work on maintaining the market balance, according to Ku...
