Oil | Egypt Oil & Gas - Part 53
Magapetco Plans Investments for its Hurghada Concession
Chairman Magawish Petroleum Company (Magapetco), Hamdi Hanafi, affirmed that his company’s investment plan for the 2015/2016 fiscal year includes pumping investments of over EGP 70m into its Hurghada concession area.
Chevron Boosts Efficiency Even as Profits Slide
For Chevron Corp., a dollar spent in the Permian Basin can get 35 percent more oil out of the ground than it could last year, as drilling costs have fallen and as the company works faster on more fertile wells.
Ghana and Suriname Offshore Blocks Progressing
Tullow Oil says its three-field TEN development project offshore Ghana is around 65% complete and on schedule for first oil in mid-2016.
Q3 Startup of Nigerian Offshore Field Announced
Lekoil has issued an update regarding operational activity at the Otakikpo marginal field in Nigeria.
Petroleum Sector Imports Projected at $16m for Current Fiscal Year
Egypt expects to import 28.6 million tons of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said.
Ghana Economy Reels from Low Oil Prices
Oil has gone from savior to curse for Ghana.
Contractor Awarded $500m by BP and DEA for North Alexandria
Subsea 7 S.A. today announced the award of a contract with a value of approximately USD 500 million by BP, and partner DEA, for the development of the Taurus and Libra subsea fields offshore Alexandria, Egypt.
Shell Posts Weak Q2 Profit, Plans to Cut Jobs
European oil giant Royal Dutch Shell Thursday reported a sharp fall in its profit for the second quarter, hit by the plunge in oil and gas prices.
