Ayman Yassin, Head of Corporate Banking Group at the NBE told Daily News Egypt in an interview that the petroleum sector’s loan for the fiscal year of 2014/2015 had reached 40bn, in comparison with 27bn in the fiscal year of 2013/2014. While EGPC’s loans have represented a majority of the banks share in terms of loans to the sector, this is no longer the case; oil companies such as PICO, TAQA, Emarat Misr, and MIDOR have loaned significant amounts during the past year.
NBE’s Loans to the Petroleum Sector Amount 40bn
Monday, 17th August 2015
Thursday, 5th August 2021
The Egyptian petroleum sector is, currently, implementing five major projects worth $14 billion including expansion of Midor refinery in Alexandria, Red Sea petrochemical project in the economic zone in Suez Canal, Assiut National Oil Processing (ANOPC) diesel complex in Assiut, asphalt production unit in Suez and coking complex.
Wednesday, 4th August 2021
The two companies agreed on terms of sales and they are waiting for the Alberta Energy Board's approval to close the deal.
Sunday, 27th June 2021
Minister of Petroleum and Mineral Resources, Tarek El Molla, has inspected the Midor refinery project in Alexandria at a cost of $2.4 billion.
Thursday, 3rd June 2021
The National Bank of Egypt (NBE) and TAQA Arabia signed financing contracts with EGP 916 million to expand TAQA Arabia’s investment plans and reaffirming NBE’s strategic partner role in supporting big projects with economic viability, according to a press release.