Latest in Energy Highlight
Latest in Energy
Apache Corporation reports oil and gas discoveries in Egypt’s western desert
Iran has meanwhile called for lower production this week in order to maintain and even boost crude oil price levels.
Egypt and South Korea will cooperate in the field of nuclear power development
Confirms agreement between Iraq State Oil Company and Egypt for pipeline
Egyptian National Gas had allegedly asked the jointly owned Israeli-Egyptian East Mediterranean Gas Company (EGM) to cancel the agreement.
Claims the State is seeking to restructure subsidies
Sourcing of funding for EGP 5.5bn project include World Bank, African Development Bank and European Investment Bank
Daily information briefs from all the governorate’s fuelling stations will be publically posted online
Tariq al-Mala was appointed vice president of the company, tasked with overseeing operations on behalf of the Petroleum Ministry, succeeding Amru Mustafa
Egypt has cut back on a total of nine million barrels of imported oil for the second quarter of the year, without any official explanation
The agreement will also supply Egypt with 4,000 tonnes of diesel per day
Ten-thousand employees have also been laid off as a result
Nile Petroleum will become the primary distributor of Shell marine lubricants in Egypt, serving ships passing through the Suez Canal
Minister of electricity and energy: Dairut factory will be the first of its kind in Egypt to operate on a BOO scheme
The government will raise natural gas, fuel oil, and diesel prices
Egypt’s government is currently undergoing a subsidies reform program in order to help close its budget deficit and secure the obtainment of its pending $4.8bn International Monetary Fund (IMF) loan
EGPC is seeking to buy 968 thousand tonnes of diesel to be delivered between April and June
The jump represented the largest weekly increase in two months
There has been no indication from the Egyptian government when gas supplies will return to normal levels
“This is the second-biggest investment made in Turkey after the two nuclear power plant projects,” Turkish Energy Minister said
The Ministry of Finance (MOF) has allocated EGP 100 million to the Egyptian General Petroleum Corporation (EGPC) for supplying all electricity stations with the required petroleum needs. Minister of Finance Momtaz Al Saeed stated that during July and August, the Ministry allocated EGP 600 million to the EGPC in order to procure the necessary fuel …
By Abdelrazik Al Shewikhy In collaboration with several Italian organisations in the field of renewable energy, the RES Group, a UK-based renewable energy company, offered to to construct 30 photovoltaic power stations for the Investors Association in Marsa Alam with investments worth €70 million. The project comes in light of addressing fuel shortage currently crippling …
A committee has been formed between the Ministry of Finance and the Ministry of Petroleum to determine whether additional funds to the EGPC are needed
The Industrial Development Authority (IDA) is conducting negotiations with the Social Fund for Development to provide EGP 1bn to finance petrochemical projects
By Islam Zayed The French Ambassador to Egypt, Nicolas Galey, and Pierre Marcelli, director of the French Development Agency (FDA)’s office in Cairo, signed an agreement to provide a €50m soft loan to the Egyptian government. The loan will be provided in cooperation with the World Bank, the European Investment Bank, and the German …
Energy veteran British Petroleum (BP) has announced production of first gas from the Seth development block, located 60 kilometres offshore Ras El Bar, east of the Nile Delta.
Oil market observer bodies and analysts say the embargo, coupled with US financial sanctions ramped up on Thursday, are gutting Iran’s vital oil exports
Many on Wall Street were betting that the Fed would unveil plans to pump more cash into the market, although some dealers were reassessing the likelihood of fresh action
More relaxed contractual terms are needed to secure investors interest.
Newly discovered gas reserves in the Eastern Mediterranean encourage regional tensions and slow down their development.