Oil Prices | Egypt Oil & Gas

El Molla Calls for Innovative Approaches to Increase Petroleum Production

Minister of Petroleum and Mineral Resources Tarek El Molla affirmed that the current period needs innovative solutions and efforts to increase petroleum production amidst high global oil prices and the sector’s co ...

NIOC Announces Iran Crude Oil Prices for September Delivery

The cost of light crude oil, heavy crude oil, and Forouzan crude for sale in September has been fixed by the NIOC's international affairs division at $9.50, $6.30, and $6.40, respectively, over the average oil pri ...

Maait: Oil Price Hikes Could Cost Egypt an Additional $7.2B

Minister of Finance Mohamed Maait said that the high prices of oil will cost Egypt an additional $7.2 billion to the annual costs of the oil imports which the government will have to take into consideration in its ...

El Molla: Oil Prices Will Get Corrected Towards End of 2022

The Minister of Petroleum and Mineral Resources Tarek El Molla has expected that the oil prices will be corrected towards the end of 2022.

Oil Prices Drop as Shanghai Goes into Lockdown

Global oil prices decreased as China implemented a lockdown in Shanghai, which is considered a major manufacturing and financial hub.

Oil Prices Decline As Russia Favors Iran Nuclear Deal Resumption

Oil prices has declined to the lowest level in three weeks after Russia’s announcement its favor of resuming Iran nuclear deal as soon as possible.

Germany Reconsiders Drilling Ban on Oil, Gas Wells in North Sea

In its struggle to secure energy supplies, Germany will have to reconsider its ban on allowing new drilling activities for oil and gas in the North Sea, Finance Minister Christian Lindner told Reuters.

Oil Prices Climb Over $100 as Russia Attacks Ukraine

Oil prices surged as Brent reached $102.48 a barrel, highest since Sept 2014, on February 24th as Russia attacked Ukraine.

MoP Could Offer Enppi Shares on EGX

The Minister of Petroleum and Mineral Resources, Tarek El-Molla, told CNBC that the ministry could potentially offer a share of Enppi on the Egyptian Stock Exchange (EGX).

Egypt Doubles Oil Hedges in FY 2020/21

Egypt has doubled its oil hedges during the fiscal year (FY) 2020/21 as a precautionary measure against the possible increase of oil prices, Finance Minister Mohamed Maait told Bloomberg in an interview.

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