Archives for News

Sale and Purchase Agreement Signed for the Sale of Delek Drilling’s Stake in the Tamar Gas Field Offshore Israel

TEL AVIV, Sept. 2, 2021 /PRNewswire/ — Delek Drilling of Israel has announced the signing of a Sale and Purchase Agreement (“SPA”) with Mubadala Petroleum of Abu Dhabi, UAE for the sale of Delek Drilling’s 22% non-operated stake in the Tamar gas field offshore Israel. As consideration for the interest in the Tamar field, Mubadala Petroleum will pay Delek Drilling US$1.025 billion, subject to certain adjustments. The current partners in the Tamar project are Delek Drilling (22%), Chevron (operator, 25%), Isramco (28.75%), Tamar Petroleum (16.75%), Dor Gas (4%) and Everest (3.5%). 2P reserves in the Tamar lease, after production of more than 69.3 BCM, is approx. 300 BCM
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Gigantic oil slick the size of New York City is spreading across the Mediterranean and could reach Cyprus today after emerging from Syrian refinery

A gigantic oil slick the size of New York City could reach Cyprus today, threatening a pristine coastal stretch of the island’s north. Satellite imagery indicates that the spill, which originated from a power plant inside Syria‘s Baniyas oil refinery last week, is bigger than initially thought, covering around 309 square miles. As of Tuesday evening, it was just four miles from the Cypriot coast, satellite imagery analysts Orbital EOS told CNN. To continue reading click here
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How gas could solve Lebanon’s electricity crisis and power its future

Lebanon has been defined by instability for decades, but one thing remains constant. Every day, without fail, the electricity cuts. In the country’s capital city, Beirut, the electricity cuts for around three hours a day, but in other areas, residents face more than 12 hours of power outages per day. To cope, the average Lebanese household relies on a personal diesel-fuelled generator at a cost of around $1,300 per year, or 15% of income per capita, according to a 2017 report by the World Bank. But the cuts also affect business— in 2008, the World Bank estimated that power outages
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Are oil and gas and renewables really worlds apart?

What does E.T., the 1982 American science fiction film, have in common with ET, the seismic structural shift redressing the demand for a more sustainable energy system? On the surface, not a lot. Initials aside, tales of a suburban family befriending a stranded extra-terrestrial seem like a far cry from the current pressing and very real challenge of reducing our reliance on fossil fuels as an energy source. However, as tempting as it is to place oil and gas and renewables in their respective boxes, let’s take a moment to look at the bigger picture. What if, instead of focusing
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Global Oil and Gas Chemicals Market Size, Share and Analysis To Grow At An Annual Rate Of 6.5% Through 2025

The report Oil and Gas Chemicals Market Size and Analysis maintains enhanced dynamics and is overshadowed by a top player across the globe. The research report provides Oil and Gas Chemicals Market Growth and information corresponding to market segments such as geographies, product type, application, and end-use industry. Experts use the most recent Oil and Gas Chemicals Market research techniques and tools to assemble widespread and precise marketing research reports. A detailed outline about Oil and Gas Chemicals market size and share were combined in this report which gives a comprehensive analysis of different verticals of businesses. To continue reading
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Cyprus, Greece and Israel FMs meeting to focus on enhancing regional cooperation

Cyprus Foreign Minister Nikos Christodoulides visits Israel on Sunday for a trilateral meeting of the Foreign Ministers of Cyprus, Greece and Israel. Their agenda includes ways to enhance regional cooperation, cooperation on health issues in view of the Covid-19 pandemic, and cooperation in responding to emergency situations such as wildfires, in view of the fires that broke out in the three countries recently, CNA has learnt. This is the first ministerial trilateral meeting between Cyprus, Greece and Israel taking place after the new Israeli government, under Naftali Bennett, took over, and will prepare a High-Level trilateral meeting expected to take
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Egypt Upstream Oil and Gas Fiscal and Regulatory Report 2021 – ResearchAndMarkets.com

DUBLIN, August 12, 2021–(BUSINESS WIRE)–The “Egypt Upstream (Oil and Gas) Fiscal and Regulatory Guide” report has been added to ResearchAndMarkets.com’s offering. “Egypt Upstream (Oil and Gas) Fiscal and Regulatory Guide”, presents the essential information relating to the terms which govern investment into Egypt’s upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the state’s take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Egypt’s upstream oil and gas investment climate. To continue reading click here.
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Israel to rethink deal with UAE to transport oil to Europe

Israel‘s government is rethinking a pipeline agreement with the United Arab Emirates to transport oil from the Gulf to Europe, after outcry from environmental groups. In October, the Israeli state-owned Eilat Ashkelon Pipeline Company (EAPC) signed a memorandum of understanding with MED-RED Land Bridge, a company with Israeli and Emirati owners in Abu Dhabi. To continue reading click here
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