Oil | Egypt Oil & Gas - Part 32
Congo Orders Oil, Mining Companies to Pay Taxes in US Dollars
In attempt to increase foreign currency reserves, Democratic Republic of Congo ordered mining and oil firms to pay taxes and import duties in US dollars rather than in the national currency, the Central Bank of Congo ...
Egypt Signs Five-Year Oil Deal With Riyadh
Egypt signed an agreement with Saudi Arabia, under which the North African nation will meet its needs of oil products for five years, Egyptian International Cooperation Ministry stated on its website, Al Ahram reporte...
Russia Begins Oil, Gas Exploration in Iran
Two major Russian companies, Rosgeologia and Lukoil, together with the National Iranian Oil Company (NIOC), have started a new round of studies on geological and geophysical oil and gas exploration in Iran, Mehr News ...
Russia Cuts Oil Reserves Estimates 50% to Last Until 2044
Russia will run out of oil by 2044, with production beginning to decline in 2020, according to Russian Minister of Natural Resources and Environment, Sergey Donskoy. The minister further explained that although recove...
British Tullow Strikes Oil in Kenya’s Kerio Valley Basin
UK exploration firm, Tullow Oil, has discovered oil traces in Kerio Valley, raising hopes for boosting Kenya’s oil production potential. The firm reported seeing oil traces within a depth of 700 meters, while dr...
UK Cairn Energy Increases Oil Resource Estimates in Senegal
UK-based oil explorer, Cairn Energy, has added 20% to its resource estimate for its oilfield off the coast of Senegal, The Telegraph reported. The upwards revision takes its estimated recoverable reserves at the field...
US Oil, Gas Companies Record Further LayOffs
US companies announce further layoffs amid prolonged low oil prices, RigZone reported. Traditionally, low oil prices were seen as a boost to US economic growth. Cheap oil had previously helped the country, which used ...
Libya Witnessed Militants’ Attack on Sarir Oil Field
Suspected Islamic State militants staged an attack on a power and water plant about 80km from the major Sarir oil field in eastern Libya, Reuters reported. Any threat to the Sarir area cause particular alarm because m...
