Congo Orders Oil, Mining Companies to Pay Taxes in US Dollars

• Wednesday, 23rd March 2016
• by Egypt Oil & Gas

In attempt to increase foreign currency reserves, Democratic Republic of Congo ordered mining and oil firms to pay taxes and import duties in US dollars rather than in the national currency, the Central Bank of Congo ...

Russia Cuts Oil Reserves Estimates 50% to Last Until 2044

• Sunday, 20th March 2016
• by Egypt Oil & Gas

Russia will run out of oil by 2044, with production beginning to decline in 2020, according to the Minister of Natural Resources and Environment. According to experts, the volume of proved reserves was cut by 50%, wh ...

Correction: Egypt to Produce 26 Tcf from Zohr

• Sunday, 24th January 2016
• by Egypt Oil & Gas

Eni's mega gas discovery in Egypt's Mediterranean area, Zohr, is expected to produce 26 tcf.

Algeria Energy Earnings to Fall by 50% This Year

• Monday, 23rd November 2015
• by Egypt Oil & Gas

Algeria’s energy earnings are forecast to fall to $26.4b next year while foreign exchange reserves will dip to $121b after low oil prices cut into the Opec nation’s economy.

Eni’s Gas Discovery May Be Double Initial Estimates

• Sunday, 6th September 2015
• by Egypt Oil & Gas

Sources at EGAS told Egypt Oil & Gas (EOG) that according to the seismic data of Eni's massive Zouhr discovery, the potential reservoir is estimated at 60 TCF, rather than 30 TCF. Accurate estimates of the full res ...

QNB: BP Data Indicate Qatar has 138 Years Worth of Natural Gas

• Sunday, 21st June 2015
• by Egypt Oil & Gas

Heavy investment in LNG facilities over the last 20 years and a vast ramp-up in production has made Qatar the world’s largest LNG exporter, driving the establishment of a global LNG market.