Citadel Capital SAE, the Egyptian private equity firm that has raised $3.7 billion to build an oil refinery, plans to start construction in the second quarter. ...read more
Kuwait Energy Plc, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, today announced a new oil discovery in Egypt's Ahmad-1X well, located in the Gulf of Suez's Area A concession. ...read more
Badr Petroleum Company (Bapetco) finished the drilling of two development wells, BED-19-2 and BAHGA-U in the company's Alam El-Shawish West Block, in the Western Desert. ...read more
Egyptian General Petroleum Corp. said its international oil and natural-gas bidding round closing date was extended by two months until the end of March after potential bidders requested more time for evaluation. ...read more
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Oil production in Libya has reached 1.3 million barrels per day, the state-owned National Oil Corporation said Thursday, as the North African nation eyes a return to its output before Moamer Kadhafi's ouster. more...
The presidents of Sudan and South Sudan are meeting in the Ethiopian capital Addis Ababa to discuss a deepening crisis over sharing their oil wealth more...
A Brazilian prosecutor plans to file criminal charges against Chevron Corp and some of its local managers within weeks, adding the threat of prison sentences to an $11 billion civil lawsuit as punishment for a November offshore oil spill. more...
Oil giant BP has lost its attempt to shift over $15 billion (9 billion pounds) of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up bill. more...
Iran struck a combative tone Thursday in its confrontation with the West over the nuclear issue, threatening to terminate oil exports to European nations even before their embargo takes effect this summer. more...
Brent crude rose above $110 on Thursday, extending gains on hopes of demand growth revival after the U.S. Federal Reserve said it would keep interest rates low for much longer than previously planned, to help speed economic recovery. more...
Though his ministry has been heavily strained by burdens that have accumulated over the years, Eng. Abdallah Ghorab talks to EOG about his strategy to tackle the persistent problems, his vision for creating a fertile investment milieu conducive to the sector’s prosperity and his plan to alleviate some of the major obstacles encountered by foreign investors
The European Union (EU) is finding itself in a practical dilemma, unwaveringly targeting the Syrian oil industry with its sanctions but hesitant to target the Iranian oil industry due to the precarious balance currently in place
