Oil | Egypt Oil & Gas - Part 6
Iran, Iraq Oil Ink Energy Cooperation MoU
Iran’s Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdel-Ghani signed a memorandum of understanding (MoU) to cooperate in oil, gas, and petrochemical projects. The MoU was signed in the presence of Mohamme...
US Weekly Oil, Gas Rig Count Up 43 Rigs Compared to Last Year Despite Deep Decline: Baker Hughes
Despite the deepest weekly decline in US energy firms’ oil and natural gas rig count since February, Baker Hughes pointed out that the total count was still up 43 rigs, 6% more compared to the same period last y...
bp’s Profits Reach $5B in Q1 2023, Shares Decline
bp made $5 billion in profits in the first quarter of 2023 while the company’s shares fell as it slowed a share buyback program, Reuters reported. bp’s 2023-Q1’s financial results surpassed forecasts as bu...
El Molla Emphasizes Necessity of Increasing Crude Oil Production
Minister of Petroleum and Mineral Resources Tarek El Molla has stressed the importance of meetings that discuss ways of developing and increasing crude oil production as well as their role in enhancing coordination be...
IEA’s Birol Warns of Tight Global Oil Market in H2 2023
The surprising announcement of OPEC+ to implement voluntary production cuts of 1.66 million barrels per day from May until the end of the year could cause tightness in the second half of this year, according to Fatih ...
Chevron’s Anchor Platform to Give Much-Needed Production Boost
Chevron announced that the Anchor semi-submersible oil platform, part of the company’s U.S. Gulf of Mexico offshore project, is near completion. The could company highlighted that this is regardless of the fact that t...
Oil Prices Surge as OPEC+ Suprises Markets with Production Cuts
After the Organization of the Petroleum Exporting Countries and their allies including Russia (OPEC+) shocked the markets by announcing further production cuts of about 1.16 million barrels per day, oil prices increas...
Iraq Calls on Turkey to Resume Oil Exports After KRG Deal
Following a deal between Iraq’s federal government and the Kurdistan Regional Government (KRG), northern oil exports through Ceyhan are planned to resume and Baghdad will write to Turkey to restart pipeline flows, acc...
