Oil News

Announcing Sustainable Academy Industrialization & Energy Services Company (TAQA) Reaffirms Commitment to Net Zero Ready Workforce at EGYPES 2024 Cairo, February 2024: Industrialization and Energy Services Company (TAQA) unveils its robust plan to nurture an ecosystem of dynamic workforce and talents, adept at navigating the evolving energy landscape. As a frontrunner in the industry, TAQA aligns with the global shift …

  As the cornerstone for global energy dialogue for Africa and the Mediterranean, EGYPES 2024 is set to open its doors from 19–21 February 2024 in Cairo, Egypt. Under the distinguished patronage of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt, the Egypt Energy Show (EGYPES) 2024 is poised to open its doors next February, …

Demonstrating a firm commitment to Egypt’s Nationally Determined Contributions and its ambitious target of reducing greenhouse gas emissions by 65% by 2030, the Egyptian Ministry of Petroleum and Mineral Resources announces the launch of the region’s first CLIMATECH Challenge at the seventh edition of the Egypt Energy Show (EGYPES), taking place in Cairo from 19-21 February 2024. The CLIMATECH Challenge …

  JOINT VENTURE OF WINTERSHALL DEA AND EGAS FIRST TO ACHIEVE ZERO ROUTINE FLARING IN EGYPT • Wintershall Dea’s and EGAS’ DISOUCO Joint Venture achieves a ‘first’ for the upstream industry in Egypt • Achievement follows October 2022 letter of intent for emission reduction • Another step forward for Wintershall Dea’s Energy Transition Pathway •Wintershall Dea and its partner, the …

In a media roundtable today, Wintershall Dea CEO Mario Mehren reported the company’s operational and financial results from the second quarter. The company reported stable production at 322,000 barrels of oil equivalent per day in Q2 2023, up three per cent year-on-year. EBITDAX was at 975 million euros, 24 per cent lower year-on-year, reflecting significantly lower prices. Looking ahead to …

Wintershall Dea intends to fully exit Russia following a principle decision of the Management Board, approved by the Supervisory Board. The company will leave the country in an orderly manner, complying with all applicable legal obligations. “Continuing to operate in Russia is not tenable” Wintershall Dea CEO Mario Mehren says: “Wintershall Dea will end its Russian activities. Continuing to operate …

CEO Mehren: “Security of supply requires security of demand” In a media call today, Wintershall Dea CEO Mario Mehren calls for more investment in the expansion of the energy industry. That includes more investment in global gas and oil production, as fossil fuels will continue to be needed in the longer term. “Importers need to be able to conclude long-term …

LONDON — Oil giant Shell on Thursday reported its highest quarterly profit since 2008 on soaring commodity prices, fueling calls for a one-off windfall tax on oil and gas companies to help U.K. households with spiraling energy bills. Shell posted adjusted earnings of $9.1 billion for the three months through to the end of March, in line with expectations of analysts polled …

Shell Brasil Petróleo Ltda.(Shell Brasil), a subsidiary of Shell plc, has signed the production sharing contract (PSC) with Petrobras to acquire a 25 % stake of the Atapu field. Shell said that the transaction worth is $1.1 billion and will start receiving its additional share of oil from the field. “This transaction is the latest proof point of our commitment to further …

Prime Minister Mostafa Madbouly held a meeting with the CEO of the Norwegian renewable energy company Scatec Terry Belskog to discuss the first issuance of green bonds to refinance the company’s plants in the Benban Solar Complex. At the beginning of the meeting, Madbouly highlighted the confidence of international financial institutions in the Egyptian economy and the growing partnership with Scatec. This …