Oil | Egypt Oil & Gas - Part 14
Oil Prices Surge on Geopolitical Tensions in Middle East
Recent incidents in the Arabian Gulf led to global oil prices rising to their highest level in two weeks. On Tuesday, May 14, two pump stations on the Saudi East-West pipeline, which transports oil from the Eastern Pr...
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...
Egyptian Oil, Gas Companies to Participate in Lebanese Bid Rounds
Egyptian oil and gas companies are ready to participate in oil and gas bid rounds offered in Lebanon, Al Mal News reported. Egypt’s Prime Minister Mostafa Madbouly discussed economic cooperation with the Lebanes...
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, an official source at the company told Amwal Al Ghad. The ...
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, Zawya reported citing Emirates News Agency (WAM). The distil...
Oil Prices Plunge $20 since October
Oil prices have dropped by more than $20 since October, falling to $65.37 per barrel on November 13 from a peak of $86.29 on October 3, Al Mal reported. Oil prices have lost a quarter of their value since early Octobe...
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, Reuters reported. The monthly report...
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, according to Reuters. “We produce when we...
