Home / Tag Archives: petroleum

Tag Archives: petroleum

Egypt signs historic $7.5 billion petrochemical deal

Egypt has signed a $7.5 billion deal to construct a petrochemical complex in the Ain Sokhna industrial zone, the cabinet said on Wednesday. The deal, between the Red Sea National Refining and Petrochemicals Company and the Suez Canal Economic Zone’s development company, aims to produce value-added petroleum products in order …

Read More »

Jan Kubis to new UN-appointed Libya monitor

U.N. Secretary-General Antonio Guterres plans to appoint veteran diplomat Jan Kubis as his envoy in Libya nearly a year after the last mediator stepped down, according to a letter to the U.N. Security Council seen by Reuters on Thursday. If there are no objections by any of the 15-member council …

Read More »

Iran downplays Korean complaints of tanker seizure

Iran said on Sunday that South Korea should avoid politicising the seizure of its vessel by Iranian Revolutionary Guards in the Gulf, Iranian state media reported, while pressing Seoul to release $7 billion in funds frozen amid U.S. sanctions. South Korea’s vice foreign minister, Choi Jong-kun, arrived in Tehran on …

Read More »

RAK Petroleum back in profit

Ras Al Khaimah Petroleum, a UK-based company operating oil and gas concessions in the Middle East and Africa, said on Monday it had returned to profitability, posting a net profit of $54.8 million (Dh201 million) for the financial year 2017. A year earlier, the company reported a net loss of …

Read More »

DNO ups stake in Faroe Petroleum

DNO ASA, the Norwegian oil and gas operator, announced last night that it has acquired a further 3,744,203 shares in London-listed Faroe Petroleum plc at a price of £1.25 per share representing 1.02 per cent of the outstanding shares in the company. Together with two other recent transactions, also at …

Read More »