Oil | Egypt Oil & Gas - Part 96
Plunging Oil Prices Hurt Africa Growth
The continued fall of crude oil prices on the international market may impact negatively on Africa’s economic growth, the African Capacity Building Foundation (ACBF) said Friday. ACBF executive director Emmanuel...
Oil Drop Cuts 29% in Saudi Basic Industries Profit
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemical maker by sales, reported a 29% drop in fourth-quarter profit as lower oil prices reduced returns from its own products. Net income dropped to 4.3...
Iran Oil Price for Budget Reduced to $40
The Iran government is revising its draft budget to assume a base oil price of $40, from $72, the state-run Fars News Agency reported Finance and Economy Minister Ali Tayebnia as saying today. The Iran government is r...
Dana Gas: Oil Prices May Delay Debt Payments
UAE-based Dana Gas revealed on Wednesday that it could delay the schedule of receiving the owed debt by the Egyptian government, due to the international decline in oil prices. CEO of Dana Gas Patrick Allman-Ward told...
GPC Invites E&P Companies to New Bid Round in South Sinai
The General Petroleum Company (GPC) invites specialized petroleum companies in the field of exploration and production (oil and gas) to submit offers for undertaking oil and gas exploration and production services in ...
Libya Increases Production to 300,000-500,000 B/D
The see-saw story of Libya oil production since the revolution has taken another turn with the report from Mabrook Buseif that it is now up, at between 300,000 and 500,000 b/d. Buseif was appointed head of the Nationa...
Progress Made on Morocco Drilling Activities
Gulfsands Petroleum plc, an oil and gas services company with activities in Syria, Morocco, Tunisia and Colombia provided the following update on its drilling activities in Morocco. Well perforating, completion and cl...
Kuwait Sets $155 Billion Capital for Five Year Development Plan
The Kuwaiti government has set capital spending in the five-year development plan starting in April at KD 45.5 billion ($155 billion), a majority of which will be spent on projects and development of human resources, ...
