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Egypt signs 98 oil agreements worth $74bln since 2014: Minister | Hellenic Shipping News Worldwide


Egypt signs 98 oil agreements worth $74bln since 2014: Minister
Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla has announced that, since 2014, the country has signed 98 agreements with international oil companies to search for and exploit oil and gas.
El Molla noted that the total investments injected into the oil and gas sector during the period from fiscal year (FY) 2014/15 to FY 2019/20 amounted to about $74bn.
In a virtual symposium held by the British Egyptian Business Association (BEBA), El Molla pointed to four important projects in the field of refining, which saw investments amounting to $4.6bn.
These have been implemented to produce high-quality products, stressing that the quantities of petroleum products Egypt has imported from abroad have been reduced by 35%. ....

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Turkey-Greece: From Maritime Brinkmanship to Dialogue


What’s new? Turkey and Greece have returned to talks after their mid-2020 dispute over sovereignty in the eastern Mediterranean Sea devolved into the longest-lasting military face-off since the 1970s. The discussions could help the parties de-escalate tensions and move from brinkmanship to dialogue.
Why did it happen? Tensions flared in 2019-2020 when Ankara – seeking a say in energy projects – sent seismic research ships to waters contested with Greece and the Republic of Cyprus, intervened in Libya’s civil war and signed a maritime delimitation deal with Tripoli. Turkey’s rivals have increasingly aligned with Greece over competing sovereignty claims. ....

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