Energy acquisition news : Abu Dhabi-based Mubadala Petroleum has forayed into the Shorouk Block, an Egyptian offshore concession in the Mediterranean Sea by completing its acquisition of a stake of 10% for $930 million from Italian energy giant Eni. Through the deal, the Abu Dhabi state-owned Mubadala Investment Company subsidiary, will take part in the […]
Oil and gas industry news : Italian oil and gas company Eni has struck a deal to divest a stake of 10% in the Shorouk concession, offshore Egypt, containing the super-giant Zohr gas field to Mubadala Petroleum for a sum of $934 million. The UAE-based Mubadala Petroleum is a 100% owned subsidiary of Mubadala Investment […]
US food processing company Archer Daniels Midland (ADM) will form a joint venture with agrifood company Cargill, which will manufacture soybean meal and soybean oil in Egypt. The ADM Cargill joint venture will own and operate Cargill’s majority owned National Vegetable Oil Company soy crush plant in Borg Al-Arab and associated commercial and functional activities. […]
British oil and gas major BP has commenced gas production from Atoll Phase One, an offshore gas project that has been developed with an investment of about $1 billion in Egypt. Located in the North Damietta block in the East Nile Delta, the offshore gas project has been completed seven months earlier than expected and […]