Yorktown selling Egypt oil business Merlon -sources

Private equity firm Yorktown Partners is selling its Egyptian-focused oil and gas company Merlon International, hoping to raise up to $400 million, two banking sources told Reuters.

The process is being run by"...

EU, Egypt to sign new strategic partnership on energy

Climate Action and Energy Commissioner Miguel Arias Canete will be in Egypt on 22-24 April for a high-level visit with government officials and energy stakeholders.

On behalf of the Commission he will sign a Memorandum"...

BP to increase Egypt's natural gas output to 1.3 bcf/day

BP Egypt is targeting to increase natural gas production from the West Delta project to 1.3 billion cubic feet per day.

The head of BP Egypt, Karim Alaa said on the sidelines of the 9th Mediterranean Offshore"...

Shell To Resume Deepwater Exploration Off Egypt

Royal Dutch Shell (NYSE: RDS.A) said it will resume deepwater exploration for oil and gas off Egypt’s Mediterranean coast, executive vice president Sami Iskander told a news"...

Royal Dutch shell to resume deep-water exploration off Egypt

Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt's Mediterranean coast, Executive Vice President Sami Iskander told a news conference on Tuesday.

Egypt"...

Egypt Announces Deep Cuts in Petroleum, Electricity Subsidies in 2018/2019 Budget

The Egyptian government aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for fiscal year (FY) 2018/19, according to Reuters.

The government document allegedly"...

Egypt, Cyprus Discuss Turkish Challenges to Gas Exploration

Egyptian Foreign Minister Sameh Shoukry and his Cypriot counterpart, Nikos Christodoulides, discussed on Tuesday the Turkish-Cypriot dispute over gas exploration in the Mediterranean, which erupted two months ago.

The Egyptian foreign ministry said in a statement that the two"...

David D. Powell Joins Harbour Energy as New CFO

(AETOS Wire)-- Harbour Energy, Ltd. (“Harbour’’) today announced that David D. Powell has joined the organization as Chief Financial Officer. Mr. Powell is a seasoned oil and gas executive with global operating experience, who has built"...

Egypt inaugurates 4 new solar plants in Benban for $180M

Aswan Governor Magdy Hegazy and the Chinese consul to Cairo inaugurated four new solar power plants in Benaban project in Aswan Governorate, with a total capacity of 186 megawatts and an investment cost of $180 million (LE 3.17 billion).

The consortium which will construct"...

Abu Dhabi Launches Six Historic Oil and Gas Licensing Opportunities

• Major onshore and offshore blocks across the emirate opened for new competitive bidding round
• Estimates suggest blocks contain substantial amounts of oil and gas
• Successful bidders will have the opportunity to explore, and then develop and produce discoveries with ADNOC
• Prospective partners invited to register interest...
  Continue Reading