Mr. Tarek El Barkatawy is the new Chairman of the Egyptian General Petroleum Company (EGPC). Mr. El Barkatawy has a degree in Petroleum Engineering from Cairo University and over twenty years experience in the Egyptian petroleum sector. ...read more
Dana Gas PJSC, announces its financial results for the first quarter ended 31 March 2013 with a net profit after tax of AED 241 million (US$ 66 million), an increase of 17% as compared to AED 206 million (US$56 million) in Q1 2012. Revenue from the sale of hydrocarbons during Q1 2013 was AED 557 million (US$ 152 million). ...read more
Egypt, struggling to meet domestic energy demand, has asked Russia to help it fulfil its gas supply contracts with Europe, Russia's Energy Minister was quoted as saying on Saturday. ...read more
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Will the reduction of energy subsidies lead to increased political unrest?
As the U.S. sets records for natural gas production, the specter of shortages and surging prices has been replaced by a debate over how much to sell overseas. The bounty has fueled speculation President Barack Obama is ready to expand exports. more...
OPEC crude oil output has rebounded in April from its lowest monthly level in more than a year due to the resolution of export disruptions in Iraq and Libya and a rise in Iranian sales, a Reuters survey found. more...
After failing to halt Iran’s nuclear advances with harsh economic sanctions, a group of U.S. lawmakers and analysts is proposing a more drastic remedy: cutting off Iran entirely from world oil markets. more...
The United Arab Emirates is planning to get up to 25% of its power from nuclear energy by 2021 as it looks to reduce its domestic reliance on fossil fuels and ensure it has enough oil to export as its economy expands, the country's new energy minister said Monday. more...
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The Future of Oil & Gas Agreements in Egypt Round Table - CNBC Coverage
Ranking an impressive twelfth among global exporters in 2009, Egypt initiated natural gas production in the 1980s with a mere 30 billion cubic feet of gas to accommodate domestic consumption.
The decision by the Egyptian government to commit to the long-term domestic supply of natural gas while allowing immediate imports of LNG and the rapid adjustment of domestic prices to reflect the cost of supply to the industry, signals a potentially significant shift in Egypt’s energy policy. The move has been decried by some as a sign of panic on the part of a government beset by economic and political pressures from many sides.
