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ThyssenKrupp offers to partner with Egyptian oil companies on 5 new projects

The German conglomerate ThyssenKrupp offered to participate with Egyptian oil companies in the implementation of five new projects under preparation. The offer was made during a meeting between the representative of the German company and Tarek El-Molla, acting minister of petroleum and mineral resources. The projects that ThyssenKrupp intends to implement include a polybutadiene plant …

Daily News Egypt

Oil prices plunge as reports of increased production by OPEC, Russia emerge

Oil prices plunged on Friday to their lowest levels in weeks, on the back of reports that the Organisation of the Petroleum Exporting Countries (OPEC) and Russia are considering increasing production. Both West Texas Intermediate (WTI) and Brent crude fell by more than 3% to $67.50 and $76.44 respectively. Both Saudi Arabia and Russia are …

Mohamed Samir

Parliament approves oil, gas exploration agreement in North Sinai maritime zones

The Egyptian Parliament’s energy committee approved an agreement for oil and gas exploration in the North Sinai maritime concession area (NOOR) in the Mediterranean Sea. The deal is between the Italian company Eni and the Egyptian Natural Gas Holding Company (EGAS). MP ElSayed Hegazy, a member of parliament’s energy committee, told Daily News Egypt that …

Mohamed Farag

Iran to maintain oil exports if EU salvages nuclear deal

Iranian Oil Minister Bijan Zanganeh said that the US President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports if the European Union (EU) could salvage the pact, Reuters reported. The Iran nuclear deal was signed by Trump’s predecessor, Barack Obama, along with the United Kingdom, France, Germany, China, …

Mohamed Samir