Monthly Archives March 2021

Oil optimism unwinds rushed storage deals

London/New York/Singapore — When the world economy slammed on the brakes in 2o20, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. At the end of February, the volume of refined products held on stationary tankers for over 10 days stood at 19.2-million barrels, down 77% from a peak of 84-million last May, IHS Markit estimates show.   To continue reading please click here
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Categories: News.

Turkey says it may negotiate maritime demarcation with Egypt

ANKARA (Reuters) – Turkey and Egypt could negotiate and sign a maritime demarcation deal in the eastern Mediterranean if their ties, which have been strained, allow for such a move, Turkish Foreign Minister Mevlut Cavusoglu said on Wednesday. Ties between them have been frosty since Egypt’s army ousted Muslim Brotherhood President Mohammed Mursi, an ally of President Tayyip Erdogan, in 2013. They have also been at odds over maritime jurisdiction and offshore resources, as well as differences in Libya, where they backed opposing sides in the civil war. To continue reading click here
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Global $2634.45 Billion Oil & Gas Upstream Activities Market to 2030

Egypt and Israel are working on plans to expand the East Mediterranean Gas Forum (EMGF) into energy security, electricity infrastructure and emissions controls. Israeli Energy Minister Yuval Steinitz celebrated the emergence of a “new Middle East, especially in energy”, with the EMGF a testimonial to these shifts. Speaking at CERAWeek, Steinitz noted how Israel had begun exporting natural gas to Jordan and Egypt, from its offshore fields.   To continue reading please click here
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Uniting for Gas

A game-changing group was set up in Cairo in January this year to set policies for the exploitation of the natural gas in the East Mediterranean in the shape of the East Mediterranean Gas Forum (EMGF). Egypt, Greece, Cyprus, Italy, Israel, Palestine, and Jordan all signed the forum’s charter in the presence of representatives from the European Union and the World Bank. France has filed a request for membership, and the United States has issued a request to be a permanent observer at the forum. The steps taken during the meeting and the signing of the forum’s charter are of
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Categories: News.