World Bulletin / News Desk
An Egyptian tender to explore natural gas in the Mediterranean was delayed due to lack of a "coordinate" agreement between Israel and Greek Cypriot administration that defined the boundaries of the two countries.
Speaking to the Anadolu Agency (AA), former Egyptian Minister of Petroleum, Abdullah Gurab, stated that, while he was the Minister of Petroleum between February 2011 and June 2012, he had constantly brought up the idea of holding a tender for the exploration of natural gas in the Mediterranean Sea but that the tender did not take place due to a lack of a "coordinate" agreement between Israel and Greek Cypriot administration that clearly defined the territorial waters.
"Later on, the Egyptian Ministry of Petroleum obtained information showing the necessary coordinates from related Egyptian officials. 13 tenders, 6 of them in the border regions of Israel and Greek Cypriot administration and 7 of them in Egyptian territorial waters, were opened," Gurab underlined.
"Oil wells at border regions may be mixed up. Egypt must sign agreements with neighboring countries to take under guarantee its rights," Gurab said.
On the other hand, Egyptian Minister of Petroleum Osama Kamal said that 13 international companies attended the tender for exploration of natural gas in the Mediterranean in June and that the results would be announced in November.
Egypt signed a contract with BP last week for the exploration of natural gas in the Mediterranean Sea.
Russia has proposed from European Union Energy Commissioner Guenther Oettinger for a three-way meeting on gas between Russia
The southern African country, which ditched its hyper-inflated local currency in 2009, is facing a serious dollar crunch as a result of lack of foreign donor support and investment
The European Commission, in charge of policing member states' public finances, is expected to respond to French projections in early June after European parliamentary elections
The Australian purchase is a signal of confidence in the F-35 Joint Strike Fighter (JSF) programme, which is about 70 percent over budget and years behind schedule
Executives say a plan is needed to tackle surging inflation as economic recession looms.
An agreement between the United States and Japan is crucial for setting the tone for other countries engaged in the TPP
The pipeline was closed as a precaution following the discovery of the fuel store
Unfair pricing which threatens U.S. domestic industry brings additional taxes to Turkish and Mexican companies.
With unemployment near 11 percent and growth sluggish, Valls must strike a balance between reassuring EU partners and investors about France's deficits
"Regardless of how the stand-off over Ukraine develops, one lesson is clear: excessive dependence on Russian energy makes Europe weak," Tusk argues
So far, rubber trees have been planted on only 270 hectares of land. But the project has already begun yielding rubber, said to be up to international quality standards.
Construction of the new complex comes at a time when the university is scrambling to expand its facilities to keep up with growing student numbers.
Rouhani says tackling inflation is a priority, and the rate has dropped below 35 percent as his administration introduced more conservative monetary and fiscal policies.
Long queues at public petrol stations in Sana'a, as private stations have little fuel to oil to sell
The Yue Yuen facilities in Gaobu comprise the company's biggest manufacturing centre. In addition to Adidas, it also makes shoes for Nike Inc , Saucony and other global brands
The British oil major has paid out billions of dollars in compensation under a settlement. Some claimants are satisfied, but others are irate that BP is now challenging aspects of the settlement