The agreement was signed by the Chairman of EGAS, Magdy Galal, and the COO Natural Resources of Eni, Guido Brusco, in Cairo
Eni and EGAS announced Wednesday a new agreement aimed at increasing gas production and liquefied natural gas exports. The agreement, signed by the Chairman of EGAS, Magdy Galal, and the COO Natural Resources of Eni, Guido Brusco, in Cairo, will focus on promoting the export of Egyptian gas to Europe, specifically to Italy, “in the […]
Tarek El-Molla, Egypt’s Minister of Petroleum & Mineral Resources was also in attendance
Egypt’s President Abdel Fattah el-Sisi met with Claudio Descalzi, CEO, Eni, on Thursday to discuss the company’s activities in the country. In attendance was also Egyptian Minister of Petroleum & Mineral Resources Tarek El-Molla. The main topics of conversation were regarding Egypt’s production of natural gas and LNG. The country has aspirations of becoming a […]
Early estimates place the size of the find at around 140 million barrels of oil
Eni and Sonatrach announced Sunday that they had discovered significant oil and associated gas in the Zemlet el Arbi concession, located in the Berkine North Basin in the Algerian desert. The two companies have been operating the concession together as a joint venture owned 49% by Eni and 51% by Sonatrach. According to a statement […]
Geothermal energy appears to be an untapped resource that could be taken advantage of amid the global goal to diversify the energy mix
The need to develop a variety of energy sources has never been so evident. As the global reliance on a few specific oil and gas sources becomes clear, it seems obvious that we should be investing in diversifying our energy mix. But while governments are looking to expand their solar and wind power, is enough […]
The oil giant generated $48 billion of cash flow from operating activities, the highest level since 2012
American oil company ExxonMobil reported Tuesday a profit of $23 billion in 2021 and Q4 earning of $8.9 billion owing to the recovery of oil prices throughout last year. In addition, the company stated that it generated $48 billion in cash flow from operating activities – the highest in 10 years – and reduced its […]
If all parties agree to pursue a petrochemical project they will enter into a separate project joint development agreement
Saudi Arabia-based petrochemical firm SABIC announced it had signed a memorandum of understanding with energy giant Aramco and Polish energy group PKN Orlen for the exploration of potential petrochemical growth or expansion projects in Poland and Central and Eastern Europe. According to a statement, the agreement will help enable the study of several potential collaboration […]
Expenditure will leap to a predicted $83.4 billion in 2022, up from an expected $69.8 billion this year
US shale expenditure is set to surge nearly 20 percent next year as the industry recovers from the unprecedented volatility caused by the Covid-19 pandemic. Expenditure will leap to a predicted $83.4 billion in 2022, up from an expected $69.8 billion this year, a 19.4 percent increase, according to energy research firm Rystad Energy. This […]
Iran’s daily production capacity will reach four million barrels by March.
Iran has announced plans to pump more oil than it did before previous-US President Trump imposed additional sanctions, a top Iranian oil official said, Bloomberg reported. The comments were made just before a high-level nuclear talk with are likely to impact Iranian energy-market ambitions. “Plans are in place to increase oil output to more than […]
OPEC+ is due to meet next week, but so far prices have yet to fall despite Biden’s plan.
Oil prices held steady Thursday after OPEC announced that a planned release of reserves around the world could increase supply in early 2022, Bloomberg earlier reported. Futures contracts traded near $78 per barrel, after the Organization of Petroleum Exporting Countries’ (OPEC) Economic Commission Board made the prediction. On Tuesday, US President Biden announced the release […]
The North Field expansion projects will increase Qatar's LNG production capacity to 126 million tons per annum by 2027
QatarEnergy has placed the first batch of LNG shipbuilding orders with Korean shipyards, consisting of four vessels from Daewoo Shipbuilding & Marine Engineering (DSME) and two vessels from Samsung Heavy Industries (SHI), as part of QatarEnergy’s shipbuilding programme to meet its future LNG carrier requirements. The orders came in the form of QatarEnergy’s declaration of […]
