EGYPT

Apache Diversifies Away From Egyptian Instability

US independent Apache, which operates fields accounting for over 30% of Egyptian oil production, says it is looking to continue to reduce its exposure to the country in the light of recent instability. Apache Chairman and CEO Steve Farris said, in a presentation marking the release of the firm’s 2011 results, that Apache’s “perceived overexposure” to Egypt (as well as to the Gulf of Mexico where a drilling...