Oil
Egypt: New agreement for oil and gas exploration in the Nile Delta with the German company, Wintershall DIA

The Egyptian Ministry of Petroleum announced on Monday that it has signed a new contract to explore for oil and gas in the Nile Delta with the German company Wintershall DIA, with investments more...

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Oman Supports Deeper Oil Output Cut in (OPEC+)

Omani Oil Minister Mohammed bin Hamad Al-Rumhi said on Saturday 8 February 2020 that his country supports the recommendations made by the technical committee in (OPEC +, which is OPEC and its allies...

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Egypt Signs five Cooperation Agreements in Oil and Gas Field

Egypt signed a number of agreements on Wednesday, February 11, 2020 during the Egypt International Petroleum Exhibition (EGYPS) held in Cairo, where Minister of Petroleum and Mineral Resources Tariq...

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Egypt signs 9 new oil and gas exploration and production agreements in the Mediterranean and Western Sahara regions

Egyptian Oil Minister Tareq El Mulla signed nine agreements to explore for and produce oil and gas in the Mediterranean and Western Sahara regions on Monday, January 20, 2020, according to...

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OPEC production expected to decline in 2020 due to the spread of Corona virus in China

The US Bloomberg agency said in its report published on Sunday, 2nd February 2020 that the Organization of Petroleum Exporting Countries “OPEC” has to reduce its production to overcome...

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Chevron expects to restore production of the neutral zone between Kuwait and Saudi Arabia within 12 months

After four and a half years, the Wafra oil field is set to resume production soon. Ed Colina, Chevron Operations Advisor, speaking at a technical session at the International Petroleum Technology...

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OPEC to extend oil output cuts till June Cause of Coronavirus

OPEC sources have confirmed to Reuters that they want to extend the current cuts in oil production until June 2020, with the possibility of making further cuts if oil demand in China is greatly...

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Dragon Oil of UAE on its way to expanding investment in the Egyptian oil sector

Eng. Tariq Al Mulla, Minister of Petroleum and Mineral Resources witnessed the ceremony held by the Emirati Dragon Oil Company on the occasion of completing the agreement to acquire the British BP...

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OPEC and Russia deepen oil output cuts

Sources told Reuters that OPEC and its allies led by Russia are close to the agreement to reduce oil supplies for next year, to support crude prices and prevent the abundance of oil. The Organization...

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Oil prices jump to $70 a barrel due to tension in the Gulf region

As tensions between the United States and Iran escalated, oil prices jumped to more than $70 a barrel. The immediate rise in prices was among the biggest jumps since the attack on Aramco oil...

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