International

Oil falls sharply alongside other commodities as uncertainty grows

Renewed fears that the coronavirus will harm global growth rocked commodity markets again on Monday, with oil and metals prices tumbling while gold soared toward $1,700 an ounce amid a flight to haven assets.

Petrofac awarded $40 mln project by Sharjah NOC

Petrofac’s has been awarded an engineering, procurement, construction and commissioning (EPCC) contract by Sharjah National Oil Corporation (SNOC), worth around US$40 million, for a project in the United Arab Emirates.

Approving the planning budget for Petro shorouk and Petrobl companies for the fiscal year 2020/2021

Engineer Tariq Al Mulla, Minister of Petroleum and Mineral Resources, announced that the Zohr field project represents a model in planning, implementing, following up and achieving world records

Aramco enters the natural gas export club with the giant "Al Jafoura" field in the eastern region.

the giant "Al-Jafoura" field in the eastern region which is the largest non-associated non-traditional gas field, discovered in Saudi Arabia with a length of 170 kilometers and width 100 km, and the volume of gas resources in its reservoir is estimated at 200 trillion cubic feet of wet gas

Africa’s Largest Oil Nation Could See Production Drop 35%

Nigeria’s oil production could drop by 35 percent in the ten years as regulatory uncertainty and costs amid languishing oil prices may prompt oil majors to postpone final investment decisions on three major deepwater projects, consultancy Wood Mackenzie told Reuters on Thursday.

East-Mediterranean partnerships key for Egypt hub plans

Egypt is set firmly on its path of progressing the eastern Mediterranean energy hub in collaboration with neighboring countries despite geopolitical uncertainties.

Wintershall Dea signs concession agreement for East Damanhour exploration onshore Egypt

-Exploration at East Damanhour to start in 2020. -Great potential seen in East Med region. -CEO Mario Mehren to participate in a Global Business Leaders panel session. On the eve of the Egypt Petroleum Show 2020 (EGYPS 2020), Wintershall Dea and Egyptian Minister of Petroleum H.E. Tarek El Molla have signed the concession agreement for the East Damanhour block. The block is located to the west of Wintershall Dea’s Disouq development in the onshore Nile Delta. During a first exploration phase of three years, starting in 2020, Wintershall Dea is planning to drill several exploration wells.

New major gas find in UAE to be jointly developed by ADNOC and Dubai

The UAE has discovered 80 trillion standard cubic feet (tscf) of shallow gas resources in Abu Dhabi and Dubai, which will be jointly developed by ADNOC and Dubai Supply Authority (DUSUP).