Oil | Egypt Oil & Gas - Part 8
Shell, Aramco CEOs Warn of Difficulty in Reversing Tight Global Oil Supply
The chief executive of Saudi Aramco said that the oil market is not paying attention to the fact that the world’s spare capacity to increase oil output is very low, and the chief executive of Shell claimed that ...
OPEC+ Considers Cutting Oil Production by Over 1 mmbbl/d
According to OPEC sources, OPEC+ may consider reducing oil production by more than 1 million barrels per day the following week in order to address the weakness in oil market. This would be the largest action taken si...
ExxonMobil Increases Guyana Oil Output, Hesitant About Next Auction Offer
ExxonMobil is unsure whether it will submit a bid for new offshore areas Guyana wants to explore because the oil company is increasing production quicker than expected and the South American nation is having trouble a...
Exports Restart After spillage at Iraq’s Basrah oil terminal
Basrah Oil Company announced that oil loading and exporting operations at the Basrah oil terminal in Iraq have resumed following a spillage that was stopped recently but has since been contained, Reuters reported. The...
OPEC Sticks to Its Strong Oil Demand Growth Forecasts for 2022, 2023
OPEC maintained its predictions for strong growth in global oil demand in 2022 and 2023, citing indications that major economies were performing better than anticipated despite challenges including rising inflation, R... Russia Opposes Any Potential OPEC+ Oil Output Cut
Sources talking to the Wall Street Journal stated that Russia does not favor a reduction in oil production at this time and that it is probable OPEC+ will maintain its output. OPEC+ is expected to maintain its oil out...
Schlumberger, Aker Solutions to Merge Subsea Oil and Gas Construction Business
Schlumberger, a U.S. engineering company, and Aker Solutions, a Norwegian company, intend to combine their underwater oil and gas construction businesses and add Subsea 7, an Oslo-listed competitor, as a partner, the ...
Apache to Boost Production From Egypt’s Fields
Minister of Petroleum and Mineral Resources Tarek El Molla met with Apache Corporation CEO and President John Christmann, who is currently visiting Egypt. The meeting took place in the presence of David Chi, Vice-Pres...
