Global gas demand growth rate has increase by 2.4 percent since the beginning of the century, Trend informs with reference to the Annual Report of Royal Dutch Shell.
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The Nour-1 New Field Wildcat (NFW), which has led to the discovery, was drilled by the Scarabeo-9 semi-sub in a water depth of 295 meters and reached a total depth of 5,914 meters, Eni said on Thursday.
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In a statement on Sunday, Ganope, entity of the ministry charged with managing and stewardship of all aspects related to petroleum activities of the Red Sea said the blocks are being offered “ for the first time, within the context of the Ministry of Petroleum’s strategy to achieve the optimum economic utilization of all potentials and natural resources to contribute to the sustainable development of Egypt.“
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Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs).
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Egypt’s oil and gas future looks very bright. The large scale concessions awarded during the EGYPS2019 conference in Cairo, 11-13 February, shows the appetite of IOCs, such as Shell, BP and ENI in this emerging energy hotspot.
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Ethiopia and Djibouti have signed a deal to build a pipeline to transport Ethiopian gas to an export terminal in the Red Sea state, officials said.
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The Hague-based LNG giant Shell is looking to up exports of liquefied natural gas from Egypt’s Idku facility as production ramps up from the West Delta field.
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(Bloomberg) — OPEC’s top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced.
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Algeria’s Sonatrach has signed a $1 billion contract with India’s Larsen & Toubro to build plants to produce 11 million cubic metres of gas per day, Sonatrach’s CEO said on Monday.
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Algeria, whose president Abdelaziz Bouteflika will seek a fifth term in April, gets most of its income from oil but was hit hard by falling crude prices in 2014.
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