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Latest in Energy


Israeli gas imports suspension lawsuit: Another stumbling block to Egypt’s energy hub aspirations

Cairo Administrative Court referred on Tuesday a lawsuit demanding the suspension of the approval of natural gas imports from Israel, for violating the Egyptian Constitution and Law No 196 of 2017 regulating the gas market to the State Council Commissioner Authority (SCCA). The lawsuit alleges that allowing natural gas imports from the “Zionist entity” endangers …

Mohamed Samir

Libyan oil pipeline attacked by alleged IS fighters

A Libyan crude oil pipeline owned by the Waha Oil Company, which feeds the port at Sidra. Libya’s largest oil terminal, was set on fire on Saturday. The attack lead to the loss of between 70,000 barrels per day (bpd) and 100,000 bpd, according to the state-owned National Oil Company (NOC). According to Reuters, Libyan …

Mohamed Samir

Yorktown to sell Egypt-based oil, gas company Merlon International

The New York-based private equity firm Yorktown Partners is reportedly planning to sell its Egypt-focused oil and gas company Merlon International, Reuters reported on Saturday. According to the reports, the firm aims to raise up to $400m, and the sale will be run by Citigroup, with expected bids planned to be concluded by July. Merlon …

Mohamed Samir

Petroleum Ministry to sign gas transport deal with EU next week

Minister of Petroleum and Mineral Resources Tarek El-Molla said that an agreement in the energy sector is set to be signed with the European Union next week. During his opening speech at the ninth Mediterranean Offshore Conference and Exhibition (MOC 2018) held in Alexandria, El-Molla said the agreement aims to boost cooperation in the natural …

Ahmed Ismail

Sudan asserts political will to complete electric interconnection with Egypt

Egypt and Sudan have the political well and readiness to complete the necessary steps to complete the implementation of electric interconnection between them, Sudanese Minister of Water Resources, Irrigation, and Electricity Moataz Mousa said in a press statement on Sunday. In February, Minister of Electricity and Renewable Energy Mohamed Shaker said that negotiations are underway …

Donya Salem

Egypt targets 26% subsidy cuts for petroleum products, 47% for electricity

The Egyptian government aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for fiscal year (FY) 2018/19, according to Reuters. The government document allegedly obtained by the news agency showed that the value of subsidies in the new budget amounted to EGP 89.075bn, down from about EGP …

Mohamed Samir

Infinity to complete solar plants in Q1 2019

Infinity Solar will complete the construction of solar power stations in the second phase of the feed-in tariff projects with a capacity of 130 MW in the first quarter of 2019. Human Resources Director Hisham El Gamal said that the company managed to secure 85% of the cost of the project through a German bank …

Daily News Egypt

EDC renews projects contracts in Saudi Arabia for 3 years

Contracts for the Egyptian Drilling Company (EDC)’s projects in Saudi Arabia have been renewed for the next three years, Salah Abdelkereem, head of the Egyptian Drilling Company, which is under the Egyptian General Petroleum Corporation (EGPC), said. He explained that the company controls about 74% of the land and sea drilling market in Egypt as …

Ahmed Ismail

Egypt to receive second oil shipments from Iraq in two weeks

Egypt will receive a second shipment of Iraqi crude oil of 2m barrels in two weeks. An official at the Egyptian General Petroleum Corporation (EGPC) told Daily News Egypt that the agreement with the Iraqi side includes the supply of 2m barrels every two months for a year, on soft terms of payment and a …

Mohamed Farag

EGAS plans to offer gas exploration in 9 land, sea areas in Q2 2018

The Egyptian Natural Gas Holding Company (EGAS) intends to put forward bids for nine natural gas land and offshore exploration concession areas in the second quarter (Q2) of this year, according to an official source at the company, who declined to be identified. According to the source, the company obtained security approvals for the bidding …

Ahmed Ismail