Oil Prices | Egypt Oil & Gas - Part 34
Price Prophecies from American ‘Peak Oil’ Tycoon
Oil prices could hit $100 a barrel by the end of next year, U.S. oil magnate T. Boone Pickens said on Tuesday, revising his previous forecast which said they would reach that level as early as this year. “I thin...
Balancing Physical Risks and Financial Gains Posed by Excess US Oil Storage
Just as Wall Street says the U.S. is running out of room to store oil, it turns out there’s another 20 million barrels of empty space. Where? Right at the top of the tanks. A supply glut has dragged U.S. crude for May...
Storage Industry Optimizing in Preparation for Oil Price Rebound
The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel – a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been sig...
Saudi OPEC Governor Precludes Return to High Price Era
Saudi Arabia’s OPEC governor Mohammed al-Madi said on Sunday that he believed it would be difficult for oil to reach a price range of $100-120 per barrel again. “$100-120 – I think it’s difficu...
Oil Prices Driving US Shale Bankruptcies and Junk Bond Growth
The oil price crash is taking a growing financial toll on companies throughout the industry, forcing some into bankruptcy and others to issue expensive junk bonds to stay afloat. On Tuesday, shale producer Quicksilver...
Gulf States Compete to be Top Investor in Egypt, Despite Oil Price Crunch
Of the Gulf Cooperation Council (GCC) member-states, the UAE stands out for being a major contributor to enhancing the Egyptian economy. By one account, the UAE has extended financial assistance in excess of $14 billi...
India Beefing Up Reserves, Refining Iraqi Crude
India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR), taking advantage of cheap prices and lending some support to a market suffering from oversupply. India’s...
Oman Optimizing Costs to Tackle Oil Price Plunge
Oil producers in Oman, including majority state-owned Petroleum Development Oman (PDO), are resorting to cost-cutting measures in view of the plunging crude prices in the international market. All oil companies are re...
