Oil Prices | Egypt Oil & Gas - Part 3
Oil Prices Climb Over $100 as Russia Attacks Ukraine
Oil prices surged as Brent reached $102.48 a barrel, highest since Sept 2014, as Russia attacked Ukraine, Reuters reported. Additionally, US West Texas Intermediate (WTI) crude futures rose $4.85, or 5.3%, reaching $9...
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). El Molla added that the ministry currently aw...
Egypt Doubles Oil Hedges in FY 2020/21
Egypt has almost 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. Maait ...
El Molla Expects Oil Prices to Average Around $50/bbl in 2021
Oil prices are expected to average around $50 per barrel (bbl) until the end of 2021 when a vaccine is available, Minister of Petroleum and Mineral Resources, Tarek El Molla, stated during the sixth edition of the Med...
Novak: 2020 Oil Demand Could Fall by 10 mmbbl/d
Russia’s Energy Minister, Alexander Novak, has predicted that global oil demand could fall by 9-10 million barrels per day (mmbbl/d) this year due to the impact of the COVID-19 pandemic, according to Reuters. This pre...
China’s Oil Imports Surge 25% in July
China’s Crude oil imports jumped 25% during July from a year ago as a result of a huge amount of purchases made in April after oil prices drop as well as clearing some cargoes which delayed at ports in June, Reuters ...
Petroleum Trade Deficit Drops 91% YoY
The recent oil slump has narrowed the petroleum trade deficit in Q1 2020 by $405.1 million, amounting to $40 million against $445.1 million in Q1 2019, a 91% year-on-year (YoY) decrease, according to the Central Bank ... El Molla: Oil Prices to Reach $40-50 Per Barrel
Minister of Petroleum and Mineral Resources Tarek El Molla told CNBC Arabia that the prices of oil per barrel during the current year could reach between $40-50. El Molla added that these prices will save a portion of...
