Analyse: The feud between brothers, the GCC rift and implications for oil and gas markets

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Shell Gas-to-liquids refinery, Qatar

Earlier this week, Saudi Arabia, the UAE, Bahrain and Egypt cut diplomatic and economic ties with Qatar, accusing Qatar of supporting extremism. The measures are of unprecedented severity in modern GCC diplomacy with adverse consequences for Qatar, not least for its reputation as a business and international and regional transit hub and as host for international events, including the 2022 World Cup.

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Africa Oil & Gas: Egypt Will Make $750MM Debt Payment To Oil Companies next June – Reuters

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Egypt pay debt to oil sector companies

Egypt will make a debt payment of $750 million to international oil companies on June 1, Central Bank Governor Tarek Amer said on Tuesday. The country has outstanding dues of about $3.5 billion to international oil and gas companies. Continue reading

Analysis: “Eni is Everywhere”

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Mozambique President, Felipe Nyusi (left), ENI CEO, Claudio Descalzi (right)

One company pushing ahead with operations around Africa is Eni, which continues to make discoveries and sell down finds, writes Nicholas Newman.

WHAT: Eni is focused on African opportunities.

WHY: The continent remains under-explored and Eni has the skill, and interest, to push its exploration work forward.

WHAT NEXT: Selling off stakes in Egypt and Mozambique should provide the company with funds to sustain its grand exploration plans. Continue reading

Africa Oil & Gas: Egypt Hopes To Reach Gas Market Balance In 2018, To Export By 2020

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EGAS chief Mohamed Al-Masry

Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020, EGAS chief Mohamed Al-Masry said on Wednesday at an oil conference in Cairo. Continue reading

Africa Oil & Gas: Descalzi, el-Sisi discuss Zohr, Nooros development

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Image courtesy of Eni

Eni’s investment in its activities in Egypt reached US$2.7 billion in 2017, the company’s CEO, Claudio Descalzi noted during his meeting with Egypt’s president Abdel Fattah el-Sisi. 

Descalzi and el-Sisi discussed the ongoing development activities of the giant Zohr gas field that is progressing according to schedule and the production startup is confirmed for the end of 2017.

In addition to the Zohr gas field activities, the parties discussed the Nooros development, which will produce about 25 mscm/d (172,000 boepd) by the end of January 2017.

Descalzi and el-Sisi also discussed Eni’s future exploration activities in Egypt, including the two new concession agreements for the North El Hammad and the North Ras El Esh blocks, signed in December as a result of the EGAS 2015 international bid round.

Africa Oil & Gas: Egypt signs $220M of oil and gas deals

Egypt Signs $220M Of Oil And Gas Deals

Egypt signs $220M of oil and gas deals

Egyptian Oil Minister Tarek El Molla signs 3 offshore oil and gas exploration and production deals worth a total of at least $220 million with Total, BP, and ENI’s Egyptian subsidiary IEOC.

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Africa Oil & Gas: Eni gets hold of two new blocks offshore Egypt

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Image courtesy of Eni

Italian oil and gas company Eni on Tuesday said it has signed two new concession agreements for the North El Hammad and North Ras El Esh, located in the shallow waters in the Egyptian Mediterranean Sea, as a result of the EGAS 2015 international bid round. Continue reading

Africa Oil & Gas: Shell reported to be offering Rosetta concession offshore Egypt for sale

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Rosetta onshore ‘facilities’

Daily News Egypt reports that Shell has offered the Rosetta concession, offshore Egypt, for sale. Daily News Egypt said a source close to the company told it that Shell decided not to carry out any development operations in Rosetta.  Continue reading