Egypt set for a gas turnaround
The Egyptian natural gas sector is on track for an about-face, though complex dynamics could keep pressure on the industry, Wood Mackenzie found. Italian energy company Eni in December secured Continue Reading
The Two Nations Racing To Host The Next Oil And Gas Rush
Bit of a quiet week for major resource news. But several small items are suggesting some potentially explosive developments coming over the next several months. One of those comes in Continue Reading
Eni gains stronger position in Egypt
Italian energy company Eni said it continued its track record of success in the Mediterranean Sea by securing two new agreements in an Egyptian auction. Eni secured the bulk of Continue Reading
Eni to sell 30 percent stake in Egyptian gas field to Rosneft
Italian energy company Eni has agreed to sell a 30 percent stake in a giant Egyptian offshore gas field to Russia’s Rosneft for $1.575 billion, pressing ahead with asset sales Continue Reading
Shell Discovers 500 Billion Cubic Feet of Natural Gas in Egypt’s Western Desert
New natural gas discoveries were made earlier this month in Egypt’s western desert, announced Royal Dutch Shell plc, commonly known as Shell. The discoveries were made in Alam El-Shawish concession Continue Reading
Egypt: Cairo Governor Raises Taxi Fares Following Increase in Fuel Prices
The Cairo Governor announced on Tuesday that taxi fares’ initial charge will increase from EGP 3 to EGP 4, along with an increase in the rate per kilometer from EGP Continue Reading
Kuwait Said to Renew Contract to Supply Crude Oil to Egypt
Egypt to get 2 million barrels of Kuwaiti crude a month Shipments not meant to make up for Egypt’s loss of Saudi fuel Kuwait renewed a contract to supply Egypt Continue Reading
A Seismic Shift In The Middle East: Saudi Arabia Cuts Off Egyptian Oil
While the proxy war in the middle-east rages, a curious, and largely under the radar pivot has been taking place in one of the countries directly impacted by Hillary Clinton’s Continue Reading
Egypt just massively devalued its currency — here’s what happens next
Egypt’s central bank floated the pound on Thursday in an attempt to stabilize its economy, which has been hampered by a shortage of dollars. The currency was initially devalued by Continue Reading
Saudi oil shipments to Egypt halted indefinitely, Egyptian officials say
Saudi Arabia has informed Egypt that shipments of oil products expected under a $23 billion aid deal would be halted indefinitely, suggesting a deepening rift between the Arab world’s richest Continue Reading