oil reserves | Egypt Oil & Gas
IEA to Release Over 400 mmbbl from Emergency Reserves to Stabilize Oil Markets
The International Energy Agency (IEA) said more than 400 million barrels (mmbbl) of oil from emergency reserves will start entering global markets soon as part of a coordinated effort to ease a surge in crude prices f...
Japan to Release 6 mmbl of Oil from Private Reserves
Japan’s Industry Ministry announced that it will release 6 million barrels (mmbbl) of oil from its private reserves as a part of its contribution to a second round of the International Energy Agency’s (IEA) release to...
Kuwait, Iraq to Appoint Expert for Oil Production Assessment
Kuwait and Iraq have selected a consultant to estimate the oil reserves in the areas on the border between the two countries, Reuters reported. The two countries will discuss production policies depending on the oil p...
Independent Audit Puts Saudi Oil Reserves at 270 Billion Barrels
Saudi Aramco’s first external audit has revealed that the company has 270 billion barrels in oil reserves, Reuters has reported. The new estimation is slightly higher than the 261.8 billion barrels Aramco report...
Iran’s Oil Reserves Could Increase by 10%
Studies conducted by foreign and domestic firms on Iranian oilfields have revealed that Iran has the ability to increase its proven oil reserves by 10%, said Gholam-Reza Manouchehri, Deputy Chief Executive of the Nati...
Egyptian Crude Reserves at 2.4B Barrels
Egypt possesses 2.4 billion barrels of oil and condensate reserves as of October 2017, a senior official at the Egyptian General Petroleum Corporation (EGPC) told Egypt Oil & Gas. In 2016, Egypt’s official reserve...
Agiba Petroleum to Have a New Oil Discovery
An official source at Agiba Petroleum Company stated exclusively to Egypt Oil&Gas that the company has drilled new exploratory well Rosa N 1X in its Meleiha concession area in Western Desert. The new well is goin...
Sasol Aims to Produce Oil in Mozambique in 2-3 Years
Petrochemicals group Sasol has found oil in wells off Mozambique and aims to bring the fossil fuel to production for the first time in the southern African nation, one of its joint chief executives said, according to ...
