Egypt Sets Oil Price at $68 in 2020 Budget
The budget for fiscal year (FY) 2019/20 estimates oil prices at $68 per barrel, down from $70 of in FY 2018/19.
Oil | Egypt Oil & Gas - Part 12
Egyptian Oil, Gas Companies to Participate in Lebanese Bid Rounds
Egyptian oil and gas companies that work in infrastructure are ready to participate in bid rounds in the oil and gas sector in Lebanon.
Petroleum Arrows to Recycle 55,000 tons of Used Oil
Petroleum Arrows company plans to expand its oil recycling activities as the company plans to collect around 55,000 tons of used oil at the beginning of 2020.
Fujairah Oil Stocks Increase
The oil products stock at Fujairah port increased by 2.4%, reaching 22.008 million barrels, according to data exclusively obtained by S&P Global Platts.
Oil Prices Plunge $20 since October
Oil prices have dropped by more than $20 since October, falling to $66.5 per barrel from a peak of $86.7.
OPEC’s 2019 Oil Demand Growth Forecast Falls Again
OPEC has cut its 2019 global oil demand growth forecasts for the third straight month, citing trade disputes and volatile emerging markets, particularly in key consuming countries.
Wintershall’s Libya Production Falls to 10,000 b/d
German company Wintershall is currently producing less than 10,000 barrels per day (b/d) of crude from its Libyan operations, compared with 60,000 b/d earlier this year.
Ministry of Petroleum to Offer New Exploration Tenders
Minister of Petroleum Tarek El Molla announced on July 31 that the ministry is planning to increase investment opportunities for oil and gas exploration by offering new tenders for the Red Sea and West Mediterrane ...
Apache to Drill Three Wells in Western Desert
Apache plans to drill three out of seven planned wells in the Western Desert by the end of 2018, according to an oil ministry source.
Oil Ministry Signs Three Exploration Agreements
The Ministry of Petroleum signed three new agreements for oil and natural gas exploration in the northern Sinai Peninsula and the Gulf of Suez on July 11.
