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Peter Ramsay
7 August 2020
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Pharos’ main man goes back to the East Med future

The independent’s CEO was making oil discoveries in the Gulf of Sinai in the 1970s. Now he is back in the region

“We lit the flare on the oil discovery just as [former Israeli prime minister Menachem] Begin flew back to Tel Aviv following the peace treaty.” So says Ed Story, CEO of London-listed Pharos Energy, of his first experience of the Eastern Mediterranean upstream. Now Story is back in the region, following Pharos’ 2019 deal for Merlon Petroleum El Fayum, which gives it production in Egypt’s Western Desert, and having taken exploration licences in Israel. What attracted you back to the East Med?  Story: We saw in the Merlon acquisition the potential to replicate what they had done—making a Western Desert discovery and subsequently selling that entity to [US independent] Apache, which generated A

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Countdown to Mozambique LNG restart
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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