Oil | Egypt Oil & Gas - Part 17
Libya Earns $14B in Oil Revenues
Libya has earned $14 billion in oil revenues in 2017, which is tripling the 2016 $4.8 billion oil revenues and allowing to halve Libya’s budget deficit, the Central Bank of Libya announced, according to Hellenic Shipp...
Algeria’s Sonatrach Considers Investing in Iraq’s Oil, Gas
Algerian state-owned energy firm Sonatrach is considering possible investments in oil exploration and natural gas projects in Iraq, Iraqi Oil Ministry announced on January 7th, Reuters reported. An Algerian delegation...
Iranian Oil Prices Rise 2%
Iranian oil reached its highest price in two and a half years, rising 2% on January 3. Buying spurred by a sixth day of unrest and strong economic data from the United States and Germany, Reuters reported. U.S. West T...
Iraqi Kurdistan’s Northern Taq Taq Field Produces Oil
Genel Energy Company announced that it has hit oil in the northern area of Taq Taq field in Iraqi Kurdistan, Pipeline Oil & Gas Magazine reports. The newly drilled well TT-29 was successfully drilled at 3,100 mete...
OPEC Oil Production Drops to Lowest Levels Since May
Oil production of the Organization of the Petroleum Exporting Countries (OPEC) dropped in November 2017, by 300,000 barrels per day (b/d) to reach its lowest output level since May 2017, according to a Reuters‘ ...
Russian, Turkish, Iranian Firms Sign MoU
Russia’s Zarubezhneft, Turkey’s Unit International, and Iran’s Ghadir Investment Company signed a memorandum of understand (MoU) for oil and gas development, the Iranian Mehr News Agency reports. Under the agreement, ...
Iran Eyes Further Development of South Pars Oil
The reservoir advisor committee at the National Iranian Oil Company (NIOC) has reviewed possible scenarios for enhancing production at Iran’s South Pars oil layer, Offshore Magazine reports. The committee further revi...
Iran Loses Indian Oil Market to Iraq
India has reduced its imports of Iranian oil by 33%, while increasing its purchase of Iraqi oil. The decline makes Iran go from second to third biggest oil exporter to India, Al Arabiya reported. India is currently ai...
