But the coup has also generated a palpable sense of optimism that a new government may break with the status quo and drive through vital oil sector reform.
Immediate reactions to the coup were largely muted. All oil firms quizzed by MEES were watching events carefully. “We are monitoring the situation in Egypt closely,” said a BG spokesman. “Safety of our staff is of paramount importance,” he added. A few offices were shut on 4 June, and both BG and BP – key offshore producers – had begun a limited evacuation of some non-essential foreign staff and dependents. But this was very much a temporary measure. Not one of the four producing companies interviewed saw any disruption to their own operations, nor had they heard of production being affected anywhere else. “Business as usual,” was a standard response. (CONTINUED - 897 WORDS)