Fitch solutions announced that the Egyptian petrochemical, chemical, and cements industry exports has grown by 45% reaching to $ 6.7 billion by 2021 driven by natural gas growth and high prices.
The LNG has been transported through pipelines from both Azerbaijan and Norway, and of these countries, only Egypt, the United States, and Angola have made significant progress in converting the gas associated with oil extraction into natural gas exports rather than flaring.
The Ministry of Petroleum and Mineral Resources (MoPMR) announced that the installation work of towers and equipment in the Alexandria Refining and Petrochemical Company's (ANRPC) methanator unit project is now complete.
Minister of Petroleum and Mineral Resources Tarek El Molla has met with Spanish Ambassador to Egypt Álvaro Iranzo Gutiérrez to dicuss oil and petrochemical investment opportunities in Egypt and its role in energy security as well as the European Union's (EU) efforts to overcome oil and gas industry challenges.
At the top of the priorities of this strategy are projects to exploit flare gases because of their positive returns, both environmentally by reducing carbon emissions resulting from gas flaring, or economically by providing quantities of natural gas and reusing them in other fields and activities, El Molla noted.
Aton Resources announced the latest updates on on the final assay results from the recent diamond drilling program at Hamama, located in Abu Marawat Concession in the Eastern Desert of Egypt.
Minister of Petroleum and Mineral Resources Tarek El Molla said that the local production from the petrochemical industry reached 4.3 million tons at the end of the fiscal year (FY) 2021/22 compared to 2.1 million tons in FY 2015/16.
Minister of Petroleum and Mineral Resources Tarek El Molla stated that the petroleum sector is adopting a new strategy for corporate social responsibility (CSR) aimed at achieving sustainability, uniting efforts, and working together to improve the quality of living conditions for local communities all over Egypt.
The Minister of Petroleum and Mineral Resources Tarek El Molla has received the report of natural gas utilization expansion project for the fiscal year (FY) 2022/23 for the periodical follow up.
Minister of Petroleum and Mineral Resources Tarek El Molla reviewed the efforts of the South Valley Egyptian Petroleum Holding Company (GANOPE) to bring the total crude oil production of GANOPE and its subsidiaries to about 40,000 barrels per day (bbl/d) by the middle of next year.
