Profits | Egypt Oil & Gas - Part 3
Germany’s E.ON Propped Up Profits Thanks to Gazprom Deal
E.ON, Germany’s largest utility, reported an 8% rise in first-quarter core earnings, after the group secured better gas prices from Russian supplier Gazprom. “Our first-quarter results indicate that parts ...
Enppi Announces 19% Increase in Profits
Enppi’s Chairman and CEO, Engineer Imam El-Said, announced that the company’s profits have increased in 2015 by 19% to reach EGP 570m in comparison to the year before, Egypt Oil & Gas reported. El-Said...
Chevron Cuts Capital Spending Plans for 2016-2018
US energy giant Chevron said it was further cutting spending plans to address low oil and natural gas prices that are hammering its profits, The Wall Street Journal reported. The second-largest US oil company reduced ...
Nigeria to Boost Profitability in UAE as it Fights Oil Corruption at Home
Alpha Group of Companies Chairman/CEO Sheikh Mohamed Bayorh and senior executives from leading prominent companies in UAE welcomed the Nigerian Minister of State Petroleum Resources, Honorable Emmanuel Kachikwu this w...
Fears that Dana Gas Losses May Affect Egypt Investments
UAE-based Dana Gas announced a $7.6m loss in the third quarter of 2015. The company operates mostly in Egypt and Iraq. In the same period last year, the company recorded a profit of $37.7m, reported Bloomberg. The com...
Dana Gas Making Cutbacks After $9m Oil Prices Loses
The UAE’s Dana Gas reported third quarter gross revenue of $93m as compared to $174m and an overall net loss of $9m, reported Gulf News. This is versus a net profit of $38m in the third quarter 2014, principally due t...
Oil Prices Force Taqa to Shift Gears
Abu Dhabi National Energy Company (Taqa) posted a net loss in the third-quarter as revenues were hit by weak oil prices, reported Trade Arabia. “During the first three quarters, we have continued to position Taqa to w...
Crude Oil Fails to Keep PetroRabigh Profits Afloat
Saudi Arabia’s Rabigh Refining and Petrochemical Co (PetroRabigh) reported that its profits swung to a net loss in the third-quarter, reported Reuters. The company’s explanation was lower margins on petrochemica...
