Iran Offers Discounted Prices of Crude to Europe

• Monday, 22nd February 2016
• by Egypt Oil & Gas

Iran has revealed its oil prices to European buyers for the first time since sanctions were lifted against the Middle East country. Iran Heavy, one of the country’s main export grades, will cost $1.25 a barrel, which ...

Oman to Seek Foreign Loans to Finance Oil&Gas Projects

• Thursday, 18th February 2016
• by Egypt Oil & Gas

State-owned Petroleum Development Oman (PDO) will in future borrow abroad if it needs to finance projects rather than ask for more funds from its shareholders.

Angola Seeks Tackling Oil Price Decline, Food Scarcity

• Wednesday, 17th February 2016
• by Egypt Oil & Gas

The government of Angola will adopt a set of measures to respond to the emerging crisis in the country resulting from the sharp drop in oil prices resulting in scarce and more expensive food resources.

El Molla Meets with Heads of 40 Companies

• Wednesday, 10th February 2016
• by Egypt Oil & Gas

Tarek El-Molla, Minister of Petroleum and Mineral Resources, met with the heads of 40 joint venture companies to discuss different methods of boosting oil and gas production in Egypt, reported Egypt Oil & Gas.

Vitol CEO: Oil Prices to Bounce Around $40 – $60 a Barrel

• Tuesday, 9th February 2016
• by Egypt Oil & Gas

Oil prices will stay low for the next ten years over Chinese economic slowdown and the US shale industry acting as a cap on any rally, Ian Taylor, CEO of Vitol Group BV, the world’s largest independent oil-trading ho ...

Shell Postpones Deep Water Project in Nigeria

• Monday, 8th February 2016
• by Egypt Oil & Gas

Royal Dutch Shell has announced it would postpone the Final Investment Decision (FID) on the $12b Bonga South-West oil project in deep-water Nigeria amid the sustained drop in oil prices, as its adjusted profit fell ...

US Gas Firm Anadarko Cuts Capital Expenditure by 50% in 2016

• Thursday, 4th February 2016
• by Egypt Oil & Gas

The third-largest US natural gas producer, Anadarko Petroleum Corp., cut its spending plans by almost 50% to $2.8b in 2016, after recording a net loss of $1.25b in Q4 of the last year.

Nigeria Asks for $3.5b Emergency Loans from World Bank, AfDB

• Monday, 1st February 2016
• by Egypt Oil & Gas

Nigeria’s government is in talks for concessionary loans worth $3.5b from the World Bank and the African Development Bank to help finance its planned record budget in 2016.

Gulf Stock Markets Rose Following Oil Price Surge

• Monday, 1st February 2016
• by Egypt Oil & Gas

Gulf stock markets rose sharply for a second straight trading day on Sunday after oil prices surged at the end of January. Egypt's stock index also rose by as much as 2.1% in response to the firm tone of global equit ...

IMF Recommends Bahrain to Adopt Further Austerity Measures

• Sunday, 31st January 2016
• by Egypt Oil & Gas

Bahrain has announced austerity measures in line with IMF recent recommendations, in a bid to return to international bond market and to finance its expanding budget deficit of 15% of the country's GDP.