News in Brief
Owji to attend 8th OPEC int’l seminar
SHANA – Iran’s oil minister will attend the 8th OPEC International Seminar and deliver a speech at the second ministerial meeting of this event entitled, “Investment, Financial Issues and Strategies of Oil Inclusive Growth”.
The 8th OPEC International Seminar will be held in the Austrian capital of Vienna on July 5-6, 2023, after a three-year hiatus due to the coronavirus pandemic.
Inflation still rising in Britain
CNBC – The U.K. is the only country among the Group of Seven wealthy nations where inflation is still rising, according to data from the Organization for Economic Cooperation and Development.
The Paris-based organization said Tuesday that year-on-year inflation in the G7 fell to 4.6% in May, down from 5.4% in April, reaching its lowest level since Sept. 2021.
U.K. consumer prices across all items rose to 7.9% in May when compared to the previous year, the OECD said, up slightly from 7.8% in April.
Egypt starts $1.8b gas exploration program
REUTERS – Egypt has begun a $1.8 billion programme to drill natural gas exploration wells in the Mediterranean Sea and Nile Delta, petroleum minister Tarek El Molla told UAE state news agency WAM on Tuesday.
The programme is in cooperation with Eni, Chevron, ExxonMobil, Shell and BP. The aim is to drill 35 exploration wells within two years, 21 in the current 2023/2024 financial year and 14 in the next year.