Egyptian Natural Gas Holding to expand in Saudi Arabia
Egypt is striving to attract foreign currency inflows to address a shortage that has curbed local business activity and led to backlogs at ports and delays in payments for commodities.
Egypt is striving to attract foreign currency inflows to address a shortage that has curbed local business activity and led to backlogs at ports and delays in payments for commodities.
"The decrease mainly reflects the impact of lower crude oil prices and lower volumes sold, and weakening refining and chemicals margins," the company said in its filing.
A report by Alvarez & Marsal highlights India's ambitious plans to tap into the green hydrogen market, potentially leading to $3–5 billion in exports and $7–15 billion in import substitution within the next decade.
The EPC work scope covers laying of over 800 kms of lateral gas pipeline, it said, adding that the value of the project will be confirmed upon contract execution.
Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024's second quarter.
Overall imports from Saudi Arabia are 22% higher this month than January, with the biggest private refiner — Reliance Industries Ltd. — taking its highest volume since May 2020, according to Kpler.
With the industrial age witnessing a 1.2 degrees Celsius increase in global temperatures and an alarming rise in extreme climate events, the urgent need to curb the annual greenhouse gas emissions, currently at approximately 53 billion tonnes of CO2 equivalent, is more evident than ever.
The figures show a 25% year-on-year increase in the value of crude oil from Russia, totaling $3.92 billion, with a 9% sequential rise observed.
Oil giant Aramco announced on January 30 that the energy ministry had ordered it to maintain production capacity at 12 million barrels per day, abandoning a target of 13 million bpd by 2027.
As per company's classification, orders ranging between Rs 2,500 crore and Rs 5,000 crore fall in the category of large orders.
"It's their call," Puri said, addressing the anticipation around fuel price cuts and emphasizing the autonomy of OMCs in decision-making. The minister said while addressing a press conference at the India Energy Week.