Oil Prices | Egypt Oil & Gas - Part 8
Saudi Oil Minister: Above $50 Per Barrel Needed to Sustain Investments
Saudi Energy Minister, Khalid Al-Falih, said that an amount of more than $50 per barrel is needed to sustain investments for the global oil sector.
Crude Investors Flee to Safety after Brexit
The UK’s surprising vote to for Brexit has brought a new level of uncertainty into the markets as investors started to withdraw from the international oil and gas market and the oil prices started to falter. Analysts ...
Algeria’s President Replaces Energy Minister
Algeria's Energy Minister, Salah Khebri, has been replaced, after a year in office, by the Head of the state power company, Sonelgaz, Noureddine Boutarfa. Algeria's President, Abdelaziz Bouteflika, organized a surpr ...
WB: Egypt’s Annual Growth to Ease to 3.3%
According to the World Bank's (WB) report – Global Economic Prospects June - Egypt’s annual growth is forecast to ease to 3.3% in the fiscal year (FY) 2015/16 and it is estimated to reach 4.4% in FY 2016/17, falling ...
Abu Dhabi’s ADNOC Cuts 5,000 Jobs
Abu Dhabi's state-owned National Oil Co, ADNOC, plans to cut 5,000 jobs by the end of the year, and 2,000 of the lay-offs have already been carried out.
Abu Dhabi’s Taqa Posts Q1 Loss Hurt by Low Oil Prices
TAQA reported a first-quarter net loss hurt by low oil prices. The company, majority-owned by Abu Dhabi's government, reduced its first-quarter revenue by 24% following a 43% drop in the price it sold its oil and gas.
EGPC Official: Oil Price Rise Disfavorable to Energy Subsidies
An official at the Egyptian General Petroleum Corporation (EGPC) told Egypt Oil&Gas that the rise in oil prices that would exceed $50 a barrel may pose a threat to energy subsidies as currently itemized in the new fi ...
Nigeria Faces Problems over Oil Freeze Failure
The failure of the deal to freeze oil production, which could have hastened a recovery in oil prices, puts Nigeria and other cash-strapped oil producers in more trouble.
