Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
News / Egypt
El Molla Follows-up on Preparations for EGYPS 2022 Fifth Edition
EGYPS 2022 will be held under the auspices of President Abdel Fattah El-Sisi from 14-16 February 2022 under the slogan "North Africa and the Mediterranean ... Meeting Today's Energy Needs".
EMRA, NIOF Sign Cooperation Protocol
The protocol comes within the framework of the extended and fruitful cooperation between the two ministries to exchange experiences and jointly benefit from scientific expertise.
Egypt, Libya Sign Petroleum Cooperation MoU
The MoU was signed at the conclusion of the eleventh session of the Egyptian-Libyan Joint Higher Committee headed by Mostafa Madbouly, Egypt's Prime Minister, and Abdul Hamid Dbeibeh, Prime Minister of Libya.
APRC Refines over 3 M Tons of Crude in 2020/21
The company produced 72,000 tons of butane, 938,000 tons of mazut, 440,000 tons of 80-octanes benzene, and 955,000 tons of diesel.
APC Produces EGP 48 B worth Petroleum Products
Alexandria Petroleum Company (APC) refined around 5 million tons of crude oil in fiscal year (FY) 2020/21, producing EGP 48 billion worth of petroleum products.
EIGHTEEN, TAQA Power Sign Long-term Agreement for Energy Solutions
EIGHTEEN has signed an agreement with TAQA Power for the electrification of “EIGHTEEN project” and to put in place an effective distribution network to meet the developers needs with a highly reliable & effective power solutions.
Pharos’s Interim Results Signal Return to Free Cash Flow
Pharos's President and CEO Ed Story announced that the signing of the Egyptian farm-out and The Infill Development Programme in Vietnam indicate that the medium-term outlook for the Company is a return to free cash flow.
Egypt Claims First Runner-up in Shell International Competition ‘Imagine the Future’
The American University in Cairo AUC-07 team has claimed the first runner-up position in Shell’s “Imagine the Future” global competition for the 2020/21 season.
Nasr Petroleum Exports Exceed $1 billion in 2020/21
Nasr Petroleum Company (NPC) has exported quantities of petroleum products with a total value of more than $1 billion, recording an increase of 23% compared to the previous year, Mohamed Abdullah, Chairman of the company, announced.
