Brent Price Falls on Expectations of Higher Supplies from OPEC, US

• Sunday, 22nd March 2015
• by Egypt Oil & Gas

Brent crude oil fell below $54 a barrel on Friday and was on track for its third straight weekly loss, hurt by worries of rising supplies from Opec and the United States.

South Africa’s Sasol Implements Saving Scheme due to Volatile Oil Market

• Tuesday, 10th March 2015
• by Egypt Oil & Gas

Major oil companies are scrambling to cut costs as global oil prices plummet. Sasol, South Africa’s petrochemicals giant, is the latest to roll out its aggressive savings plan, involving potentially thousands of job ...

Oil Prices Recover as Netanyahu Speaks to US Against Iranian Deal

• Wednesday, 4th March 2015
• by Egypt Oil & Gas

Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, while rival Libyan forces targeted oil terminals in the African n ...

Angola to Cut Budget by 25% as Oil Revenue Plunges

• Thursday, 12th February 2015
• by Egypt Oil & Gas

Angolan President Jose Eduardo dos Santos said oil revenue in this year’s budget will plunge by almost half, forcing Africa’s second-largest crude producer to cut spending.

OPEC may hike oil output to ease prices

• Thursday, 2nd June 2011
• by Egypt Oil & Gas

Major oil cartel OPEC may consider increasing output for the first time in 4 years to ease prices and lessen the drag of high energy costs on global economic growth.