Egypt oil and gas output unaffected so far by escalating violence


Production at Egypt's oil and gas fields remains unaffected by the country's escalating violence, but Royal Dutch Shell (RDS.A, RDS.B) has closed its offices and restricted business travel.

BP says its operations are unaffected and its people are safe; Egypt produces ~728K bbl/day of oil and ~61B cm/day of gas, with BP and its partners, including Shell, accounting for ~15% of the oil and more than 30% of the gas.

Not heard from so far is Apache (APA), which controls 9.7M gross acres in Egypt’s Western Desert; only 18% of the acreage has been developed.

From other sites
Comments (3)
  • Old Trader
    , contributor
    Comments (5732) | Send Message
     
    I'm in agreement with those saying/thinking that the effect the affairs in Egypt are having on oil pricing has less to do with Egypt's output (given that its relatively small), than it does with fears that unrest may spread through the entire region.
    15 Aug 2013, 05:35 PM Reply Like
  • bob adamson
    , contributor
    Comments (4560) | Send Message
     
    The added factor is that the Egyptian and Syrian situations simply get more difficult and intractable as each unfolds and together these two countries significantly impact
    (a) all of the Middle east and North Africa, and
    (b) the course of affairs for the Sunni Islamic world generally.

     

    In short, the danger increases in scope and magnitude without a discernible path to resolution. For those not directly involved in the affairs of these two tragic countries the risk is not what has occurred to date but rather what likely lies ahead.
    15 Aug 2013, 11:51 PM Reply Like
  • Hendershott
    , contributor
    Comments (1752) | Send Message
     
    Interestingly, other than the media, nobody seems to be shedding any tears for the Brotherhood, except maybe Erdogan.
    15 Aug 2013, 09:15 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs