Oil | Egypt Oil & Gas - Part 55
Ghana Economy Reels from Low Oil Prices
Oil has gone from savior to curse for Ghana. When the West African nation shipped its first barrels of crude oil in 2010, then-president John Atta Mills pledged to build new roads and a deep-sea port, expand the power...
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. The con...
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. Further, the company said separately that it plans to eliminate 6,500 ...
New Licenses Issued for North Sea Operators
A total of 41 new licences have been awarded for oil and gas operations in the North Sea. The Oil and Gas Authority (Oga) confirmed the new licences yesterday after 134 were announced in November last year. The UK oil...
Massive Earnings Loss Makes BP Unattractive to Acquire
BP is less likely to be acquired following its $18.7 billion settlement over the 2010 Macondo oil spill, Chief Executive Officer Bob Dudley said on July 28. The has been much speculation in recent months that the Brit...
GE Buys $2.5bn Worth of Oil from Africa
General Electric Co. booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola. That figure is $500 million more than ...
Gazprom to Take Legal Action Against Turkmengaz
A spokesman for Russia’s Gazprom confirmed Friday that the corporation has filed a case against Turkmengaz, Turkmenistan’s state gas company, at the international arbitration court in Stockholm, Sweden. According to R...
Petrobel to Increase its Production Levels
Sherif Ismail, Minister of Petroleum and Mineral Resources received a report from Atef Hassan, head of Belayim Oil Company (Petrobel) about the company’s new strategy to maximize the country’s petroleum wealth, in its...
