oil
The summit is attended by more than 33 heads of state and government, as well as 80 representatives of regional and international organizations.
The program shed light on the ministry’s efforts to cut harmful greenhouse gas emissions and develop plans on facing the negative impacts of the climate changes.
The meeting was held on the sidelines of the 2022 UN Climate Change Conference, COP27, currently held in Egypt’s Red Sea resort city of Sharm El-Sheikh.
The Central Agency for Public Mobilization and Statistics (CAPMAS) released a statement Tuesday detailing the exports, whose value declined in May 2022.
The new expansions of the port aim to increase the storage capacity by adding four storage tanks with a capacity of 630,000 barrels of crude each, to reach a storage capacity of 5.3 million barrels.
These arrangements have been made in order to resume production operations, NOC added.
A statement issued by the ministry said the LE 1.8 billion project, called "Modern Area", would help pump crude oil from Ain Al Sukhna to Tibbin area from which it will be distributed to upper Egyptian governorates.
The meeting tackled procedures for activating the memorandum of understanding (MoU) that was signed with Petrojet to implement new petroleum projects in Equatorial Guinea, foremost of which a project to establish a new refinery.
European Union Ambassador to Cairo Christian Berger said Tuesday that the union supports Egypt to become a major hub of energy in the Middle East, North Africa, and Mediterranean.
The closure of several sites this month, including oilfields and export terminals, has seen Libya’s output halve to around 600,000 barrels per day, Al Arabiya reported.
"Oil companies will have to sell more fuel at exchange auctions," the Russian cabinet said in a statement carried by Sputnik News Agency on Saturday.
These new discoveries have already been connected and tied into production, in line with the Infrastructure-led exploration strategy, allowing to maximize exploration opportunities nearby existing infrastructures.
The move follows an agreement among warring parties in Yemen to hold a two-month truce.
Libya has the ninth largest known oil reserves in the world and the biggest oil reserves in Africa.
President Abdel Fatah al-Sisi received Thursday an Eni delegation led by CEO Claudio Descalizi in the presence of Minister of Petroleum and Mineral Resources Tarek al-Mulla.
Madbouli added that the cost of a barrel of oil was $60 a few months ago, and it has reached $120 now; due to the Russo-Ukrainian war.
He added that these developments came as a reflection of the success of the first phase of seismic search operations in the Red Sea, which were conducted using two-dimensional search technology over an area of 11,000 km.
During his meeting with CEO of Siemens Middle East Dietmar Siersdorfer, he pointed out to Egypt’s importance as a regional energy hub in the Eastern Mediterranean, underscoring the need to take advantage of its distinguished geographical location, especially during the current energy transition period.
Sawiris said, in a tweet via his twitter account, Monday, that there are measures that must be implemented quickly to confront the rise in oil and wheat prices and its impact on the economy.
The Russian forces have continued their military operation on Ukrainian land since last Thursday, for the sixth consecutive day.
