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The debt is promised to be fully repaid by the end of 2016, says petroleum minister
BG withdrew its oil drills from the Borollos field in February before the company was acquired by Shell
After stopping 9B stage, BG asks government to raise the price of gas to $7 or pay $1bn immediately
Egypt key market for leading British companies working in oil and gas sector, says EIC Director
Project will only offset the natural decline of fields production, says official
Dolphinus’ is expected to receive 4 BCM of gas per year over 10-15 years with final agreement
Providing fuel of various kinds in holiday period and beginning of academic year, diesel and butane gas storage is enough, says El Molla
Egypt’s President Abdel Fattah Al-Sisi met with Helge Lund, the Chief Executive Officer of British Gas (BG), to discuss the company’s current activities in Egypt and its plans to increase its investments. The meeting was also attended by Petroleum Minister Sherif Ismail, according to an official statement by the presidency. The BG executive congratulated the …
British investors demand fair treatment from government, competition to be opened up in private sector, says Casson
25% increase in oil and gas reserves of Royal Dutch Shell
British Gas (BG) is set to sign a deal with the Egyptian government on Sunday during the Economic Summit, with investments estimated at $4bn. The company received $350m from the Egyptian government, after the latter’s decision to pay its delayed debts to foreign energy companies. Egypt delayed paying the dues for oil and gas companies …
BG invested 14bn in Egypt, says company’s Egypt President Arshad Sufi
Foreign partners postpone linking several wells until end of re-pricing with government, says EGAS
Arafa held meeting with petroleum officials to discuss importing gas from Tel Aviv to Egyptian plants, official says
Decrease gas production and domestic market needs cause sharp exportation decline
Shares in BG were trading 3% higher at 1,235 pence at 1144 BST, one of the top four risers on the FTSE 100.
Reuters – BG Group’s chief executive resigned on Monday as the British oil and gas major said production would be at the lower end of its target range this year due to problems in Egypt. The board said it accepted the resignation for personal reasons of Chris Finlayson after just 16 months in the job. …
Reuters – Oil and gas producer BG Group has begun offering voluntary redundancy to staff at its British headquarters, the company said, as it seeks to reduce headcount and trim costs. BG Group has been hit by lower than expected production rates, having downgraded output forecasts several times over the past two years, and is …
BG Group’s Chief Executive Chris Finlayson said the firm had made some good progress on its key growth projects in Australia and Brazil, but that it now needed to address the problems in Egypt.
Guidance for 2014 “disappointing” due to ongoing problems in Egypt
The company described the environment for investment in Egypt as “challenging”.