Profits | Egypt Oil & Gas - Part 2
AMOC Scores 262% Increase in Net Profits in FY 2021/22
Alexandria Mineral Oils Company (AMOC) Chairman Amr Lotfy announced that his company’s profits have increased by 262% during fiscal year (FY) 2021/22, recording EGP 1 billion compared to EGP 399 million in the last FY...
HF Sinclair’s Remarkable Profit Growth Defies Wall Street’s Expectations
HF Sinclair’s growth for the second quarter sped way ahead of Wall Street projections due to strong demand for fuel and refined products, Reuters reported. Western sanctions against Russia came at a time when fu...
G7 May Restrict Russian Oil Shipments
If Moscow doesn’t heed a price cap, the wealthy nations of the Group of Seven (G7) are considering, among other things, to restrict the shipping of Russian oil to deprive Moscow of bumper revenues during its inv...
Petromaint’s Profits Reach EGP 126.6M in Q1 2022
Alexandria Petroleum Maintenance Company (Petromaint) announced that it has achieved total profits from its operations reaching EGP 126.6 million during Q1 2022, compared to EGP 77.81 million during the same period in...
Shell to Dedicate Profits from Russian Oil Trade to Fund Ukraine Humanitarian Aid
Shell announced that the profits that it made from any Russian oil it purchased will be contributed to funding humanitarian aid to Ukraine, Reuters reported. In the report, Shell also said it would avoid buying Russia...
Aramco Hits a Leap of 30% in Income in Q1 2021
Hitting a total of $21.7 billion in Q1 2021, Saudi Aramco recorded a 30% net income increase year-on-year (YoY) compared to Q1 2020 when the company witnessed net income of $16.7 billion, a press release issued by Ara...
Petromaint’s Profits Leap 24% in 2020
Alexandria Petroleum Maintenance Company (Petromiant) has announced that its net profit increased by 24% for the first time during 2020, as it was able to sign contracts of EGP 4.4 billion, a press statement reported....
BP Profits Drop to $0.8 B in Q1 2020
BP announced that it recorded a drop in its underlying replacement cost profit for Q1 2020 to $800 million, down from $2.4 billion in the same period in 2019, according to a press release. The company said that this r... 
