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As of 2005, Egypt's reserves of natural gas are estimated at 66 trillion cubic feet (1.9 × 10 ^ 12 m 3), which are the third largest in Africa. [11] Egypt's production of natural gas was estimated at 2,000 billion cubic feet (57 × 10 ^ 9 m 3 ) in 2013, of which almost 1,900 billion cubic feet (54 × 10 ^ 9 m 3 ) was domestically consumed.
The Egyptian General Petroleum Corporation (EGPC) (Arabic: الهيئة المصرية العامة للبترول) is a national oil company of Egypt. EGPC's business includes crude oil exploration, refining, and storage. The company also produces lubricants and greases and offers services for oil and gas projects. [1]
In October 2005, the company sold its 55% stake in the deepwater section of Egypt's concession for $413 million to Hess Corporation. [22] In April 2006, the company acquired Gulf of Mexico Shelf properties from BP. [23] In June 2006, the company sold its oil production interest in China to Australia-based Roc Oil Company for US$260 million. [24]
At the end of 1933, and even through the depression, several thousands of oil workers joined and rejoined the union and dispersed into several dozen locals. At this point being a part of the union became really important for the oil industry. In 1937, the union changed its name to the Oil Workers International Union (OWIU). [3]
Weatherford International plc is an American multinational oilfield service company, [1] headquartered in the US and operating in 75 countries globally across the oil and natural gas producing regions. [2] The company provides technical equipment and services used for drilling, evaluation, completion, production, and intervention on gas and oil ...
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The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]