Oil | Egypt Oil & Gas

Equinor Starts Oil Production from Statfjord Øst

Equinor announced that commence of production from its Statfjord Øst project which is expected to increase production from this field by 26 million barrels of oil equivalent (mmboe).

Oil Prices Within Range of $75/bbl Balance Interests of Producers, Consumers: El Molla

In an interview with CNBC Arabia on the sidelines of the international symposium of OPEC in Vienna, Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that oil prices within the range of $75 per ...

Saudi to Implement Huge Oil Cuts in July as OPEC+ Extends Deal into 2024

Saudi Arabia announced that it will implement deep oil production cut in July on top of a boarder OPEC+ deal to limit supply into 2024, Reuters added.

OPEC Secretary General: Underinvestment Could Cause Market Volatility

Underinvestment in the oil and gas sector could cause long-term market volatility, stated Haitham Al Ghais, OPEC Secretary General, in a report from Reuters.

Iran, Iraq Oil Ink Energy Cooperation MoU

Iran, Iraq signed a memorandum of understanding (MoU) to cooperate in oil, gas, and petrochemical projects.

US Weekly Oil, Gas Rig Count Up 43 Rigs Compared to Last Year Despite Deep Decline: Baker Hughes

Despite the deepest weekly decline in US energy firms' oil and natural gas rig count since February, Baker Hughes pointed out that the total count was still up 43 rigs, 6% more compared to the same period last yea ...

bp’s Profits Reach $5B in Q1 2023, Shares Decline

bp made $5 billion profit in the first quarter of 2023 while the company’s shares fell as it slowed a share buyback program.

El Molla Emphasizes Necessity of Increasing Crude Oil Production

Minister of Petroleum and Mineral Resources Tarek El Molla has stressed the importance of meetings that discuss ways of developing and increasing crude oil production and their role in enhancing coordination all r ...

IEA’s Birol Warns of Tight Global Oil Market in H2 2023

The surprising announcement of OPEC+ to implement voluntary production cuts of 1.66 million barrels per day from May until the end of the year could cause tightness in the second half of this year, according to Fa ...

Chevron’s Anchor Platform to Give Much-Needed Production Boost

Chevron announced that the Anchor semi-submersible oil platform, part of the company’s U.S. Gulf of Mexico offshore project, is near completion.

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