Oil Prices | Egypt Oil & Gas - Part 5
Oman’s Crude Oil Production Reaches 29.18 MM Barrels in September
Oman’s total production of crude oil and condensates reached around 29.18 million barrels, with a daily average of around 972,750 barrels in September, according to a report by the Omani Ministry of Oil and Gas, Times...
Egypt Plans More Oil Hedging Contracts
The Egyptian government is planning to double the number of crude oil hedging contracts for fiscal year (FY) 2019/20, two government officials reportedly told Enterprise. The government is set to renew two hedging con...
Aramco Lowers Prices for Asian Markets in August
Saudi Aramco set the official selling price (OSP) for next August for the Arab light crude oil sold to Asia at $2.45 a barrel above Oman-Dubai quotes, Reuters reported. That price for Arab Super Light crude was set at...
Egypt to Hedge Oil Prices in FY 2019/20
Egypt plans to apply an oil hedging mechanism in fiscal year (FY) 2019/20 that starts in July after its efforts to lock-in oil prices in the FY 2018/19, according to Finance Minister Mohamed Maait, Bloomberg reported....
Egypt to Amend Oil Hedging Mechanism
The Ministry of Petroleum and Mineral Resources along with the Ministry of Finance are adjusting the hedging mechanism for fiscal year (FY) 2019/2020 amid oil price fluctuations, Al Borsa reported. Oil prices fell bel...
Oil Could Drop to $30 Due to Supply Glut
Russia is growing concerned of a scenario that could see crude oil prices drop to as low as $30 a barrel if the output cut deal, sponsored by the Organization of the Petroleum Exporting Countries (OPEC), is not extend...
Oil Prices Surge 2%, Brent Restores $70 Level
Concerns regarding crude supplies as well as the geopolitical tensions in the Middle East led to a surge in the global oil prices by more than 2%, Reuters reported. The Organization of Petroleum Exporting Countries (O...
Egypt Sets Oil Price at $68 in 2020 Budget
The Egyptian government set the crude oil price at $68 per barrel for next year’s budget, Amwal El Ghad reported. The statement for the budget for fiscal year (FY) 2019/20 showed that oil prices for are estimate...
