September 19th, 2018 | 0 commentsEgypt is looking to implement six new projects in the petrochemical sector with $2 billion in investments, petroleum minister said on Tuesday. The anticipated projects come within the petroleum sector’s plan to strengthen the petrochemical industry and provide main materials for the local market, Tarek El-Mola added in a statement. New ga...
September 18th, 2018 | 0 comments Crescent Petroleum has begun the purchase of Dana Gas’ shares. The high demand on Dana’s shares, witnessed since Wednesday, has stemmed from Crescent’s purchases, Mohammmed Mubaideen Head of Investor Relations at Dana Gas told Mubasher on Monday. Currently, Crescent Petroleum owns 19.04% of Dana’s shares and in order to up its stake to 2...
September 17th, 2018 | 0 commentsEmirates National Oil Company (ENOC) Group has announced plans to widen its presence in the emirate of Sharjah over the next seven years. The move entails resuming operations at petrol stations in the emirate following a hiatus since June 2011 when the company closed its stations for a month for maintenance then was unable to reopen them...
September 17th, 2018 | 0 commentsPetroleum Gas Co (Petrogas) has succeeded in securing around 4.2 million tonnes of liquefied petroleum gas (LPG) for the domestic market in fiscal year 2017/2018, chairman Adel Al Shuwaikh said on Sunday. LPG storage capacity reached 149,000 tonnes at the company's warehouses, the private sector, fields, and refiners, according to an offi...
September 17th, 2018 | 0 commentsEgypt’s non-oil exports rose by 14.3% year-on-year during the first seven months of 2018, recording $14.89 billion from $13.25 billion. Meanwhile, Egyptian non-oil imports increased by 15.28% to reach $38.15 billion in the January-July period of this year, compared to $33.97 billion in the same period of 2017, trade minister Amr Nassar sa...
September 16th, 2018 | 0 commentsRAK Petroleum, the UK-registered and Oslo-listed oil and gas investment company, has announced a consolidated net profit of $31 million for the first six months of the year compared to a full year figure of $54.8 million last year. The company holds a 40.45 per cent interest in DNO, also listed in Oslo, an exploration and production compa...
September 16th, 2018 | 0 commentsThe Emirates National Oil Company Group, ENOC, plans to open five service stations in 2019, with the number of stations in the emirate reaching 25 over the next five years. The stations will include the latest technologies and equipment and will operate according to the highest standards to develop the services provided to residents of th...
September 16th, 2018 | 0 commentsEgypt's Minister of Petroleum and Mineral Resources Tarek El-Molla signed on Saturday two deals with firms from Canada, the UK, the Netherlands, Malaysia and Kuwait to explore for petroleum and gas in two deep-water areas in the Mediterranean and the Western Desert. The deals include drilling 12 wells at investments of at least $1 billion...
September 14th, 2018 | 0 commentsThe price of Kuwait’s crude oil increased by 1.16 cents to settle at $76.66 per barrel (pb) on Wednesday compared to $75.5 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices increased on Wednesday with Nymex registering the highest level since July. This decline followed...
September 14th, 2018 | 0 commentsThe Saudi Arabian oil Co, known globally as Saudi Aramco, on Thursday announced signing a memorandum of understanding (MoU) with Schneider Electric Saudi Arabia in a bid to boost cooperation in various sectors related to Fourth Industrial Revolution solutions. The deal covers a range of fields, namely oil and gas, integrated manufacturing...
