Oil Prices | Egypt Oil & Gas - Part 39

Abu Dhabi: Electric cars, biofuels under threat

Tumbling oil prices look set to hit electric cars and biofuels harder than other parts of the green power industry, the head of the world’s leading renewable energy agency has warned.

LNG Import Cost Dropping As A Result of Falling Oil Prices

The cost of importing LNG to Egypt will decrease $0.5 billion annually to $2 billion as a result of the drop in international oil prices, according to Khaled Abdel Badie, the chairman of state-run Egyptian Natural Ga ...

Traders Store W.African Crude in US Until Prices Recover

Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne cargoes are able to compete better on p ...

Oil Drop Cuts 29% in Saudi Basic Industries Profit

Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemical maker by sales, reported a 29% drop in fourth-quarter profit as lower oil prices reduced returns from its own products.

Abu Dhabi Lead Shares Market After Oil Price Jump

Shares in Abu Dhabi rose to the highest level in three weeks, leading gains in Gulf Arab markets, after crude oil surged the most in more than two years.

Falling Oil Prices May Delay Exploration in Mexico

Mexico's finance secretary says plunging oil prices may delay bidding on some oil and gas exploration and production contracts.

Schlumberger Set for Significant Job Cuts

Oil services provider Schlumberger Ltd. says it is cutting 9,000 jobs in response to falling oil prices.

Kuwait Sets $155 Billion Capital for Five Year Development Plan

The Kuwaiti government has set capital spending in the five-year development plan starting in April at KD 45.5 billion ($155 billion), a majority of which will be spent on projects and development of human resources, ...

Saudi and Venezuela Work Together to Recover Falling Oil Prices

Venezuela and Saudi Arabia are coordinating joint action to recover oil prices, which fell 50% last year, and stabilise global oil markets, Venezuelan Minister of Economy and Finance and Public Banks Rodolfo Marco To ...

Iran and Venezuela Join Forces to Stabilize Falling Oil Prices

Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon.

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