Oil | Egypt Oil & Gas - Part 53
Oil Prices Rally on News of Declining US Shale Production, OPEC Meeting
Global oil prices rose in mid August amid news of declining US shale oil production, and rumors of an emergency OPEC meeting, The Wall Street Journal reported. Prices for benchmark Brent crude rose nearly 4% on the IC...
Oman’s $4b Plastics Complex to be Built for the Long Haul
Oman Refineries and Petroleum Industries Co (Orpic) is aiming to raise $4 billion for its Liwa Plastics Industries Complex, reported Trade Arabia, with bidding already under way for four Engineering, Procurement and C...
Mexican Oil and Gas Plays Struggle to Attract Investment
A full two years after Mexico was opened up to competition with Pemex, the state is struggling to attract investment, said Offshore Engineer in a recent report. In 2013 the Mexican government dismantled the structures...
Nigeria to Shift Gears to Agriculture in Fight Against Oil Corruption
Nigeria’s democratically elected President Muhammadu Buhari plans to split the Nigerian National Petroleum Corp. in two, creating a regulator and a vehicle for investments, said Femi Adesina, a presidential spokesman,...
UN Joins Fraud Office Investigations of UK’s Soma Oil
The drama over UK’s Soma Oil & Gas continues to unfold since the British Serious Fraud Office raided the company’s London office on July 31, as part of its investigation into $500,000 worth of payments to Somali o...
US Treasury Adds Russian Gazprom field to Sanctions List
The US Treasury Department added a field operated by Gazprom to its list of targeted economic sanctions, reported the Sofia News Agency. The field, known as the Yuzhno-Kirinskoye oil and gas field in the Sea of Okhots...
Morocco Shuts Down Country’s Only Refinery
Morocco’s only refinery is due to be shut down, announced Al Arabiya recently. Societe Anonyme Marocaine de l’Industrie du Raffinage (SAMIR), will shut down its facilities in Mohammadia—on the outskirts of...
Angola Economy Reeling from Low Oil Prices
Angola, Africa’s largest crude producer after Nigeria, is facing extreme austerity measures as it deals with the fallout of low oil prices, reported Bloomberg. This fiscal year’s budget has already been cut by 25%, wi...
