Posts Tagged ‘egypt’

Egyptian Uncertainty Takes Crude Past $100

by Christopher Lemieuxon July 3, 2013 11:34 pm BST
  WTI crude took over the $100 spot yesterday on speculation of US crude storage shortage and the rising tension in Egypt. U.S. crude stockpiles fell from 10.3 million barrels to 383.8 million barrels, according to the Energy Information Administration (EIA). This beat analyst estimates of 2.3 million barrel decline and was this year’s largest […]

Egypt index drops while UAE stocks dip

by Forex Rooton December 26, 2012 6:32 am BST
Egypt’s benchmark was the worst performer in the region yesterday, amid renewed investor worries about the North African country’s economy. The EGX 30 index fell by as much as 1.2 per cent during trading. It ended the session 1.00 per cent lower to 5,318.85 points. “There is a lot of volatility due to the political […]

Egypt Importing Gas for First Time as Exports Disappear

by Forex Rooton December 11, 2012 10:37 am BST
Egypt, a natural-gas exporter to markets from China to Chile, is set to become an importer for the first time just as the new government needs energy shipments to revive an economy weakened by civil unrest. Gas producers including BG Group Plc (BG/) have curbed local production even as demand from electricity plants jumped. That’s […]

Dana Gas gains UAE offshore gas block

by Forex Rooton November 22, 2012 9:35 am BST
The Sharjah-based company signed deals with the governments of both emirates to develop the field by drilling horizontal wells and installing an offshore processing platform and a 25-kilometre pipeline.Initial gas production from the field, which is situated 40 kilometres off both coasts, is planned for the first half of 2014,