BP Declares 44% Drop in its Profit in Q2 2016

• Wednesday, 27th July 2016
• by Egypt Oil & Gas

BP reported that its profit for the second quarter of 2016 has dropped by 44% to $720m, compared with $1.3b for the second quarter of 2015, reported Hellenic Shipping News. BP CEO, Bob Dudely, was quoted by The Guardi...

Oil Price Drop Forces Nigeria to Adjust Budget

• Thursday, 8th January 2015
• by Egypt Oil & Gas

Nigeria has been forced to revise its budget following the dramatic fall in the price of oil. Its finance minister, Ngozi Okonjo-Iweala, says its economy will now grow at 5.5% this year, rather than 6.4%. The new budg...

Crude Oil Falls From Near Eight-Month High on European Economic Concerns

• Wednesday, 4th January 2012
• by Egypt Oil & Gas

Oil fell from its highest settlement in almost eight months on signs that Europe’s debt crisis may drag the region into a recession, curbing fuel consumption. West Texas Intermediate crude futures reversed gains as th...