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World
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Region
9/10/2024 12:47:42 PM
An abandoned tanker carrying more than one million barrels of crude oil could contaminate vast areas of the Red Sea in a severe, long-term environmental disaster if it breaks up or explodes, experts warn.
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Egypt
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Tourism
9/8/2024 10:16:10 PM
An oil slick was discovered Sunday in the waters of the Red Sea, triggering an environmental emergency on the beaches near the Gabal El Zeit area, south of Ras Ghareb city, with the full extent of the pollution still unknown, according to media reports.
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Business
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Energy
9/5/2024 8:17:12 PM
Eight members of the OPEC+ group of oil-producing nations agreed Thursday to extend their voluntary supply cuts until the end of November, postponing a planned output increase amid falling crude prices.
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Business
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Energy
9/5/2024 5:17:15 PM
The oil-rich United Arab Emirates on Thursday announced the completion of the Arab world's first nuclear power plant, calling it a "significant step".
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World
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Region
9/4/2024 9:50:37 AM
Salvagers abandoned an initial effort to tow away a burning oil tanker in the Red Sea targeted by Yemen's Houthi rebels as it “was not safe to proceed,” a European Union naval mission said Tuesday, leaving the Sounion stranded and its 1 million barrels of oil at risk of spilling.
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Business
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Energy
9/3/2024 8:05:19 PM
Italian energy giant Eni has confirmed it will begin operating three drilling rigs in Egypt starting next week to rump up oil production for Egyptian Agiba Petroleum Company.
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Business
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Economy
9/3/2024 1:25:05 PM
The Purchasing Managers' Index (PMI) climbed above the neutral threshold of 50 points for the first time since November 2020, rising from 49.7 in July to 50.4 in August, according to the latest data from S&P Global.
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World
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Region
9/3/2024 12:50:01 PM
The United Nations said it held talks Monday with rival powers in Libya over the country's central bank crisis which has threatened vital oil income.
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World
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Region
9/3/2024 11:10:36 AM
A rescue mission was underway Monday for an oil tanker still ablaze after being attacked by Houthi rebels off the coast of Yemen last month, according to US Central Command.
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World
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Africa
9/2/2024 2:08:17 PM
A massive oil project in Uganda co-owned by French group TotalEnergies and China's CNOOC is mired in reports of sexual violence, forced evictions and environmental damage, climate activists said Monday.
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World
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Region
8/29/2024 10:21:18 PM
Yemen's Houthi rebels released footage on Thursday showing their fighters boarded and placed explosives on a Greek-flagged tanker, setting off blasts that put the Red Sea at risk of a major oil spill. The vessel was abandoned earlier after the Houthis repeatedly attacked it.
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Business
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Economy
8/29/2024 8:38:43 PM
Egypt will invest EGP 12 billion in establishing its first green industrial complex in the industrial zone of New Alamein, according to Chairman and CEO of Integrated Environmental Technologies and Oil Services (IETOS) Hazem Gaber.
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World
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Region
8/29/2024 11:20:12 AM
Yemen’s Houthi rebels have agreed to allow tugboats and rescue ships to assist a Greek-flagged oil tanker that remains ablaze in the Red Sea “in consideration of humanitarian and environmental concerns,” Iran’s mission to the United Nations said late Wednesday.
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Business
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Markets & Companies
8/27/2024 10:08:13 PM
Stock markets were little changed Tuesday as investors awaited clues on how much interest rates might be cut next month and the latest results from tech heavyweight Nvidia.
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Business
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Economy
8/27/2024 8:58:43 PM
Egyptian Natural Gas Holding company has launched an international tender for exploration of Natural gas and crude oil in 12 concessions in the Mediterranean and Nile Delta - including 10 offshore and two onshore, Minister of Petroleum and Mineral Resources Karim Badawi announced on Tuesday.
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World
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Region
8/27/2024 3:34:16 PM
The United States gave its backing Tuesday to UN efforts to resolve differences between Libya's rival administrations over the management of the central bank without cutting off vital oil income.
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Business
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Economy
8/26/2024 7:18:50 PM
Oil prices jumped Monday after an escalation of hostilities between Israel and the Iranian-backed Lebanese militant group Hezbollah raised fears of a wider conflict in the Middle East.
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Business
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Energy
8/26/2024 4:55:44 PM
Kuwait's state oil giant on Monday announced a 15-year deal for the supply of natural gas from Qatar, without disclosing the cost of the agreement.
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World
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Region
8/26/2024 4:31:00 PM
Libya's eastern-based administration on Monday said it was shutting down "all oil fields" under its control and "suspending all production and exports until further notice".
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World
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Region
8/22/2024 3:48:19 PM
An Algerian oil tanker set sail Thursday for power-hungry Lebanon, official media said, with 30,000 tonnes of fuel destined to restart turbines in the country grappling with years of economic meltdown.
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