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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
Egypt has instructed its media to water down criticism of Turkey at time both are engaged in secret talks to iron out conflicting files including Libya, reports say. A source in Egyptian state TV who asked not to be named, Read more
The Egyptian capital Cairo has been chosen to house the headquarters of the eastern Mediterranean Gas Forum, Arab Finance reports citing statement from Ministry of Petroleum and Mineral Resources. Egypt, Jordan, Greece, Cyprus, Italy, and Israel according to the ministry Read more
EU naval forces tasked to enforce UN arm embargo in the Mediterranean has arrested a ship allegedly carrying fuel from UAE to Libyan rebel war lord Khalifa Haftar, reports say. The forces, Irini, in a statement said that a German Read more
The director of monetary operations at the central bank, Mazen Hamdane has been charged with manipulating exchange after he was arrested last week, reports say. Financial prosecutor Ali Ibrahim, AFP reports citing a judicial source, found Hamdane of the manipulating Read more
Italian navy authorities have opened an investigation after the discovery of 700 kg illegal cigarettes in one of its vessels that was returning from a mission in Libya aimed at helping Libyan coastguard stop migrants to take to the sea. Read more
The Egyptian Foreign Ministry Tuesday vigorously chided Israel, rejecting comments by Israeli minister of Social Equity who called for the establishment of the Palestinian state in the Sinai instead of boundaries set by the Oslo accords. Head of the department, Read more
Armed men in the Libyan city of Zuwarah, hub of oil smuggling activities, have seized a Turkish tanker. The vessel according to Turkish media is called Haci Telli and is operated by the Istanbul-based Transpacific Shipping Company. The tanker headed Read more
An Egyptian naval vessel was on fire and it could be seen smoking from a distance but the incident that led to it is surrounded with controversy. Sinai Province, a militant group linked to the Islamic State, claimed that it Read more