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Europe’s biggest gas pipeline group Snam has acquired a 25% stake in East Mediterranean Gas Company (EMG), which owns a pipeline between Israel and Egypt, marking its entrance into a high gas demand area, Reuters reports. Snam will invest $50 Read more
Emirati international energy company, Mubadala Petroleum signed a memorandum of understanding (MoU) with Delek Drilling to acquire 22 per cent of the Israeli company’s participation in Tamar natural gas field offshore in the Eastern Mediterranean. The deal pending approval of Read more
Egypt has delivered to six companies nine permits to search oil and natural gas in the Mediterranean and the Red Sea concession areas, Arab Finance reports. The agreements will bring a minimum investment of over $1 billion targeting 17 new Read more
Diplomatic and industry sources have said the long and diplomatic dispute that has been kept at a low profile between Saudi Arabia and Kuwait over the renewal of Chevron’s concession to operate the Wafra oilfield in 2009 for a period Read more
State-run Kuwait Oil Company (KOC) is planning to develop new oilfields as part of the government’s plan to produce 4 million barrels of oil per day (bpd) by 2020. Several oilfields have been earmarked for development including the Burgan field; Read more
The Kurdistan region of Iraq, Bina Bawi, has attracted an Austrian Oil company, OMV, which is also partly owned by the Abu Dhabi government, holding 24.9% stake. This company is already pumping gas in this region and it has set Read more