Energy
Saudi secures 25th World Petroleum Conference
Saudi oil production dropped to 9.06 million bpd in July
Putting the spotlight on ‘Decarbonizing. Faster. Together
Emphasis on energy security and affordability
Crude oil prices surged past $90 per barrel, highest since November 2022
Egypt concerned over possible reduction in water supply
Bank of America predicts $100+ per barrel by year-end
Kept its forecast for global economic growth this year at 2.7 percent
OPEC, IEA expected to release reports this week
High crude prices, today reaching $90, boosted KOC’s assets to $55 bn
In bid to boost oil production capacity
Voluntary supply cuts to last until the end of this year
Egypt plans to invest $1.5 billion into drilling 35 LNG wells by 2025
Shares will likely be listed on the Riyadh bourse
Authority inaugurated seven new 132 kV substations in H1
Company plans to pump $10 bn into Egypt by 2026
BP is investing $3.5 bn for gas exploration in the country
Scrapping subsidies would prevent 1.6 mn premature deaths annually
Brent crude fell 27 cents, or 0.3%, to $82.94 a barrel
The drilling rig arrived at Lebanese waters last week
Need to supply domestic and European markets amid economic crisis  Â
Will help increase oil production rate by 10 percent
