Oil Prices | Egypt Oil & Gas - Part 21
Russia and Saudi Arabia Talk Oil Prices, Shale, OPEC
Russia’s energy minister told reports on Tuesday of his talk with his Saudi counterpart last week in Istanbul during the G20 energy ministers meeting, reported Rigzone. “We discussed the situation on the m...
Aramco Holding Market Share by Decreasing Prices
Saudi Arabia has reduced its official selling price for Medium grade crude to Asia for November to a discount of $3.20 a barrel, reported Bloomberg. This is below the regional benchmark, set in Dubai, and compared to ...
UAE Firm on Energy Diversification Amid Oil Prices
“Investments are ongoing, we are a mature producer,” Energy Minister Suhail Al Mazrouei told reporters Sunday at a conference in Abu Dhabi, reported Bloomberg. The U.A.E. has said it plans to boost oil-production capa...
Omani Offshore Company Sells Engineering Unit at a Loss
Oman’s Renaissance Services plans to sell its Topaz Engineering unit, reported The National, and at a loss of $5.5 m to Chalmers Holdings, a Dubai-based marine and offshore outfit. This is part of a strategy to sell n...
Despite Downturn, Saudi Arabia Still Bullish on Energy
The Saudi oil minister, Ali al-Naimi, was quoted by Reuters as saying on Friday that his country is continuing with its investments in the oil and gas industry as well as solar energy despite the current drop in oil p...
Bahrain Subsidies Hit by Oil Prices
Bahrain more than doubled the prices of beef and chicken, removing meat subsidies to save money as low oil prices squeeze government’s revenues, reported Reuters. Only Bahraini citizens will be compensated with ...
Mixed Blessings Face Gulf Economy with Oil-Dollar Tradeoffs
The strength of the US dollar against Asian currencies is leading to a surge in remittances from migrant workers in the Gulf Arab region, said Gulf News. Most Gulf currencies are pegged to the dollar, encouraging expa...
Egypt Saved EGP 30b as Oil Prices Dip
Sources at the Petroleum Ministry revealed to Egypt Oil & Gas that the current global price of oil reaching $48 a barrel will save the state nearly EGP 30b during the current fiscal year (FY) alone, as the governm...
