Daily Archives: January 20, 2021

07 JAN – Kuwait’s KUFPEC inks exploration, production agreement with EGAS

    KUWAIT CITY – Kuwait Foreign Petroleum Exploration Company K.S.C.C. (“KUFPEC”) in partnership with Total 35% Operator, Shell 30%, and Tharwa 10% is pleased to announce that it has signed an Exploration and Production Agreement with the Egyptian Natural Gas Holding Company (“EGAS”) for the North Ras Kanayis Offshore block located in the Herodotus…

07 JAN – Big Oil Skips Trump’s Last-Minute Arctic Drilling-Rights Auction

  The Trump administration’s unprecedented auction of Arctic drilling rights Wednesday netted just $14.4 million from three bidders, with major oil companies steering clear of the sale.   Amid low crude prices, fears about a backlash from the public and the prospect of regulatory uncertainty, just two oil companies placed bids on leases in the…

07 JAN – Egypt sees 13 percent surge in oil, gas finds

  CAIRO: Egypt has witnessed a 13 percent surge in the discovery of oil and gas reserves in 2020 compared with the previous year.According to the country’s Ministry of Petroleum and Mineral Resources, 62 oil and gas reserves were found in 2020, a year in which the global economy struggled due to the coronavirus pandemic.…