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Direct: Dragon Oil Company, wholly owned by the Dubai government, announced the start of crude oil production from the Al Wasl field north of Safa in Egypt, which is the company’s first oil discovery there.

The operation of the Al Wasl offshore platform came after the successful implementation of the first phase of early production of the North Safa field, after the completion of the evaluation operations of the well south of Belayim, which was put on production at an initial rate of 3,000 barrels of crude oil per day.

The “North Safa” field, which was discovered in 2021 by “Dragon Oil”, is the largest oil discovery in the Gulf of Suez region during the last twenty years, with an oil reserve that exceeded 95 million barrels at the very least, which prompted “Dragon Oil” to adopt an ambitious project. For early production with a total investment of $200 million.

The company said in a statement today, Tuesday, that the Al Wasl field includes establishing a new offshore production platform and carrying out procedures such as extending a production line and an electricity line to operate oil production pumps in addition to water injection, in order to maintain high production rates and achieve the highest development rates for existing reserves.

The statement added that the company intends to complete the field development work as soon as possible, by connecting the second well south of Belayim 293-6 to the production line during the middle of this January, to raise the production capacity to 3,000 barrels of crude oil per day, bringing the offshore platform’s production to 6,000. A barrel of crude oil per day.

According to the plan agreed upon with the Egyptian authorities, Dragon Oil will drill 7 new wells during the next two years, aiming to reach 15,000 barrels per day of crude oil for the Al Wasl field.

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Nominations

Harvest 2023.. The Egyptian pound exchange rate gap is worsening and expectations of further devaluation

Harvest 2023.. This is how international institutions view Egypt’s economy!

Harvest 2023.. Will inflation decline in Egypt during 2024?

Harvest 2023.. The Egyptian Stock Exchange gains 758.5 ​​billion pounds in market gains thanks to inflation hedging

2024-01-02 15:18:57
#Dragon #Oil #raising #production #Egyptian #North #Safa #field #barrels #oil #day

Abu Dhabi – Mubasher: Eshraq Investment Company announced that it will continue purchasing a share of its shares.

In a disclosure to the Abu Dhabi Securities Market, today, Tuesday, the company explained that it had purchased 105,000 shares of its stock.

She confirmed in the disclosure that this is within the framework of the share buyback program approved by the Securities and Commodities Authority.

It indicated that the price of the purchased shares amounted to 0.4 dirhams per share in each transaction, noting that the purchase was made through its broker, First Abu Dhabi Securities.

She pointed out that the number of shares remaining for purchase, according to the approval of the UAE Securities and Commodities Authority, is 147 million shares.

On December 20, Ishraq Investment Company announced the purchase of 700,000 shares of its stock, within the framework of a share buyback program approved by the Securities and Commodities Authority.

She explained that the share price reached 0.4 dirhams in each transaction, noting that purchases are made through her broker, First Abu Dhabi Securities.

The company indicated that the number of shares remaining for purchase, according to the approval of the Securities and Commodities Authority, is 149.6 million shares.

This comes a day after the company announced the purchase of 400,000 shares. This brings the number of shares purchased in two days to 1.1 million shares.

Ishraq Investment Company, listed on the Abu Dhabi Securities Market, has transformed into: For losses during the first nine months of the current year 2023.

Ishraq Investment Company suffered losses of about 81.4 million dirhams during the period ending last September 30, compared to profits of 481.5 million dirhams during the same period in 2022.

The company attributed the reason for recording losses during the current period to recording a loss in changes in the fair value of financial assets at fair value of 52.1 million dirhams during the first nine months of 2023, compared to achieving a gain in the fair value of financial assets of 468.3 million dirhams during the same period of the previous year.

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Nominations:

“Eshraq Investment” profits decrease by 74% in the first half

2024-01-02 05:43:18
#Emirati #Eshraq #buys #shares

Live: US stock indices rose at the end of Wednesday’s session, with markets evaluating the Treasury Department’s sale of $58 billion in debt due to be repaid after 5 years, which led to a decline in 10-year bond yields to their lowest level in 5 months.

At the end of trading, the Dow Jones Industrial Average rose to a new record close of 37,656 points, adding about 0.3%, or the equivalent of 111 points.

The value of the “S&P 500” index also increased by about 0.15%, equivalent to 6 points, at 4,781 points, while the “Nasdaq” index rose by approximately the same percentage, or the equivalent of 24 points, at 15,099 points.

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Nominations

Harvest 2023.. Is the rally in gold prices in Egypt likely to continue?

Harvest 2023.. The Egyptian pound exchange rate gap is worsening and expectations of further devaluation

Harvest 2023.. This is how international institutions view Egypt’s economy!

Harvest 2023.. Will inflation decline in Egypt during 2024?

2023-12-27 21:23:53
#stocks #rose #Wednesdays #trading

Noha Makram – Live – US stocks stabilized on Wednesday, with traders focusing on the S&P 500 index, which is heading to record high levels.

The S&P 500 fell slightly, while the Dow Jones Industrial Average fell by 10 points, while the Nasdaq rose by 0.2%.

CNBC reported that the broader market index is trading within 0.5% of its highest closing level of 4,796.56, which it recorded in January 2022. The S&P 500, the Dow, and the Nasdaq are also popular. With a streak of gains that lasted eight weeks, which is the longest since 2017.

It is worth noting that stocks witnessed a strong year, as the Dow and S&P 500 indexes are poised to end the year with increases of 13% and 24%, respectively. While Nasdaq jumped by 44%, to be the best performer amid the recovery of technology stocks and the boom in artificial intelligence. The index is about to record its largest gains in a year since 2003, when it jumped by 50%.

Stocks are in the midst of what is referred to as the “Santa Claus Rally,” a period consisting of the last five trading days of the ending year and the first two days of the new year. The S&P 500 rose about 1.3% during this time frame on average.

It is worth noting that the markets are now anticipating more than 70% of the possibility that the US Federal Reserve will start reducing interest rates next March, according to the “Feed Watch” tool issued by “CME”, with expectations of a reduction of 150 basis points during the entire 2024.

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Nominations:

The Fed’s preferred inflation measure rose slightly to 3.2%.

US stocks rose at the end of trading on Tuesday

For stock investors.. What do we know about the phenomenon of “Santa Claus” hikes?

2023-12-27 15:23:06
#stocks #stable #heading #record #levels

Dubai – Mubasher: Calm prevailed in the UAE stock exchanges at the end of Tuesday’s session after large deals were executed and listed shares reached the maximum.

The Dubai Financial Market Index rose by 0.26% to 4,028.88 points, with Takaful Emarat shares topping the list with the highest increase by 4.75%, Union Properties by 3.18%, Shuaa by 1.47%, Emaar Properties by 1.30%, and Union Coop by 1.23%.

The list of the largest decliners during the day is estimated at Al Salam Sudan stock at 2.94%, Ittabt at 2.87%, Ithmaar at 2.37%, Salama at 1.81%, and Amlak at 1.126%.

The Abu Dhabi market index also rose 0.34% and closed at 9,516.93 points after the shares of the UAE company “ESG Stallions” jumped by about 15% to 8.5 dirhams. Also, marine dredging shares jumped by a maximum of 14.7% to 31.62 dirhams.

Among the highest increases were Sudatel, 4.47%, and Rapco Investment, 3.55%, while the lowest recorded: I want 7.41%, Gulf Cement 5.35%, National Tourism and Hotels 3.75%, and Easy Lease 1.47%.

In Abu Dhabi, a large deal was executed on shares of the National Bank of Fujairah in the Abu Dhabi market at a value of 68.7 million dirhams on 15.27 million shares at a price of 4.5 dirhams per share, and a large direct deal on Ishraq Investment shares in the Abu Dhabi market at a value of 35.6 million dirhams on 87 million shares at a price of 0.409 dirhams per share. .

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Nominations:

2023-12-26 12:56:26
#UAE #stocks #shake #dust #calm #witness #increases #highest #limit

Riyadh – Mubasher: The Saudi stock market, “Tadawul,” ended Monday’s session with a noticeable rise, continuing its gains for the second session in a row, in light of a collective rise in the major sectors, amid a jump in liquidity.

The general market index, TASI, closed up 1.05%, adding 122.44 points to its balance, raising it to the level of 11,813.09 points, reaching its highest levels since July 27, 2023, when it closed at about 11,847.72 points.

Trading values ​​rose to 6.022 billion riyals, compared to 4.6 billion riyals, through 199.21 million shares compared to 173.25 million shares, at the end of yesterday’s session last Sunday.

All sectors closed in green, with the exception of the Real Estate Management and Development sector, which bucked the trend, with a decline of 0.12%.

The banking sector topped the gains of the major sectors, after rising by 1.93%. The performance of the communications sector also increased by 0.98%, the basic materials sector increased by 0.63%, and the performance of the energy sector increased by 0.34%.

In terms of stock performance, gains included 128 stocks, led by “Al-Bilad” stock after rising 5.18%, and the list of losses was limited to 50 stocks led by “Sinnad Holding,” which fell 1.54%.

Saudi Aramco shares registered a trading value of 522.72 million riyals, through 15.87 million shares.

The parallel market witnessed a positive performance, with the (maximum growth) index closing at an increase of about 3.26%, with gains amounting to 762.92 points, which rose to the level of 24,153.82 points.

“Burgerizer” stock topped the gains with an increase of 19%, and “Standard” stock recorded the highest gains after rising 11.57%.

The general market index, TASI, closed yesterday’s session, Sunday, up 0.59%, adding 68.72 points to its balance, bringing it to the level of 11,690.65 points.

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Nominations:

Harvest 2023.. Saudi Arabia borrows $40 billion from local and international debt markets

Harvest 2023..11 billion riyals, the value of 7 new offerings in the Saudi market and positive stock performance

Türkiye exempts Saudi citizens from entry visas for tourism purposes

2023-12-25 13:04:42
#TASI #jumps #highest #levels #months #supported #collective #rise #major #sectors