Oil | Egypt Oil & Gas - Part 99

Oil falls below $120, inventories weigh

Oil fell below $120 a barrel on Wednesday to the lowest in almost two months, pressured by rising U.S. inventories and concern about the strength of global demand.

Ukraine to increase oil production through development of shelf and fields in Egypt

Ukraine is planning to increase its own oil production, first and foremost, through the development of the Subotynske oil field on the Ukrainian shelf of the Black Sea and oil fields in Egypt, where Naftogaz of Ukrai ...

Kuwait eyes 4 mln bpd oil production by 2020

Kuwait is looking to increase oil production to 4 million bpd by 2020 and maintain it through 2030.

South Sudan says Sudan tried to build “illegal” oil pipeline

South Sudan accused Sudan of trying to build an "illegal" 25-km oil pipeline crossing the border towards the South's oil fields, a day after talks to resolve a damaging oil dispute between the two sides were postponed.

Iran oil development fund could reach $55bln-president

Iran's President Mahmoud Ahmadinejad said on Saturday the country's sovereign wealth fund could reach $55 billion by March next year if oil prices kept high, in an apparent bid to defend his economic record in the fa ...

Stoppage of Kurdish north oil exports confirmed

North Oil Company confirmed that the Kurdish government stopped exporting oil through the main Iraqi pipeline to Turkey.

Iraq says Kurdistan smuggling oil through Iran

Iraq's Kurdish region, which has halted crude exports in a row with Baghdad, owes the central government more than $5 billion and is smuggling the oil it produces through Iran, Iraqi officials said Monday.

Obama Clears Way for Sanctions on Banks in Iran Oil Trade

U.S. President Barack Obama cleared the way for sanctions aimed at banks in countries that import Iranian oil, the latest U.S. step to ratchet up pressure on the government in Tehran over its nuclear program.

Iran, South Africa to circumvent sanctions in oil trade

Iran and South Africa held talks in Tehran on Saturday to explore ways to circumvent the western sanctions on oil trade with the Islamic Republic, Mehr news agency reported.

Total eyes 200bn unfound oil barrels in Egypt, Libya

Total SA is planning to explore for oil and natural gas off the coasts of Libya and Egypt, a region that may hold as much as 200bn barrels of oil equivalent, a company official said.

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