Venezuela and Saudi Arabia are coordinating joint action to recover oil prices, which fell 50% last year, and stabilise global oil markets, Venezuelan Minister of Economy and Finance and Public Banks Rodolfo Marco To ...
Savings on petroleum product subsidies will reach an estimated 35% of the current value of EGP 100 billion for the FY 2014/2015 budget if current oil prices continue as is, Minister of Petroleum Sherif Ismail said.
Italy's Eni has signed a new concession agreement to operate in the South-West Melehia block in the Western Desert of Egypt, as Cairo continues to look to international operators to boost its flagging production.
A senior Ministry of Petroleum official said the Ministry of Transportation and Suez Canal Authority refused to allocate a pier at Port Said to receive a second regasification boat. The boat would allow shipments of ...
The price of Kuwaiti oil went down by $3.99 Monday to $47.36 per barrel compared to $51.35 last Friday, said Kuwait Petroleum Corporation (KPC) Tuesday.
Egypt's Petroleum and Electricity Ministries have reached an agreement to reschedule debts owed to the Ministry of Petroleum by the electricity sector in the upcoming months. The debts have reached EGP 44 billion.
Vega Petroleum Limited (VPL), a privately owned exploration and production company, established in the British Virgin Islands with its principals from the Middle East, announced today that it has successfully receive ...
Belayim Petroleum Company (Petrobel) has concluded drilling operations for two new developmental wells, the 113-M-113 well and the EBLS-2 well in adherence to its drilling plan for the 2011-2012 fiscal year.
During its visit of last month, The Egyptian petroleum delegation has accomplished fruitful progress in supporting the reconstruction of Libya's dilapidated petroleum industry.