Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas exploration and production deals worth a total of at least $220 million with France's Total, Britain's BP and Italian oil major ENI's Egyptian subsidiary IEOC, the ministry said on Wednesday.
The deals include drilling for six wells and a signing bonus of $9 million, the ministry said in a statement, and are the result of a tender called by Egyptian state gas board EGAS. They are all in exploration blocks in the Egyptian Mediterranean Sea, Reuters reported. Egypt has gone from exporting energy to being a net importer as domestic output has failed to keep pace with rising demand. Saudi Arabia informed Egypt last month that shipments of oil products expected under a $23 billion aid deal had been halted indefinitely. The oil sector in Egypt has signed 73 oil and gas exploration deals with international oil companies in the past three years worth at least $15 billion.
Germany's coal commission may recommend delaying a first wave of coal plant closures to 2022 rather than 2020, German financial daily Handelsblatt reports based on a leaked draft following Thursday's meeting of the commission.
Iraq has agreed with Iran to exchange Iraqi food items for Iranian gas and energy supplies, two Iraqi government officials said on Wednesday.
Iran’s Energy Minister Reza Ardekanian unveiled plans for a major boost to the country’s power generating capacity from renewable energy, inviting German companies to engage in this effort.
On October 2, POSCO held a ceremony at the headquarters of EEW Group in Germany to celebrate the sales of one million tons of thick plates to EEW Group and delivered an appreciation plaque to commemorate the occasion.
Metso will deliver three grinding lines including spare parts and supervision to NLMK Group's Stoilensky GOK iron ore production plant in southern Russia.
Import prices of petroleum coke have decreased substantially over the month, though India’s domestically produced pet coke prices have continued to remain unchanged from the rates that prevailed since the start of this month.