Oil | Egypt Oil & Gas - Part 97
BP Expects to Start Libya Oil Exploration Drilling Next Year
BP PLC expects to start next year deep-sea drilling work off the coast of Libya, as the U.K. oil giant resumes it $2 billion exploration program halted by the rebel overthrow of Col. Moammar Gadhafi's regime last year. South Sudan to restart oil wells in September, full output in a year
South Sudan hopes to resume oil production in September after reaching an interim agreement with Sudan on oil export fees, but it may take a year to return to full capacity, its top negotiator said on Tuesday. Iraq Adds $9B to 2012 Budget On Higher Oil Revenues
Increased oil revenues have allowed Iraq to add around $9 billion to its 2012 budget bringing the total budget for the year to above $110 billion, a government spokesman said Tuesday. South Korea to suspend imports of Iranian oil after EU ban
South Korea said Tuesday that it will halt all Iranian oil imports from the start of July in response to a European Union insurance ban on tankers carrying crude from Iran. Egypt studies USD 6 billion oil refining and petrochem projects
Egypt's Industrial Development Authority is examining proposals from several investors worth EGP 48 billion for developing downstream oil and gas projects including refineries and petrochemicals production. Iran Finds First Caspian Sea Oil for More Than a Century
Iran has discovered oil in its Caspian Sea waters for the first time in more than a century, the state-run Fars news agency reported. South Korea poised to halt Iran oil imports from July
South Korea will effectively become the first of Iran's major Asian customers to halt oil purchases from July 1, when a European Union insurance ban will prevent further imports. OPEC Wants To Push Oil Price Down To $100/Bbl – Chief
OPEC wants to push oil prices back down to $100 a barrel by boosting production as it fears demand destruction, the group's chief said Thursday. 
