Tarek El Molla, the Minister of Petroleum and Mineral Resources, met with the French Ambassador to Cairo, Stephane Romatet, to discuss enhancing cooperation opportunities between the petroleum sector and French companies.
The $450 million project is part of several projects aimed to achieve gasoline self-sufficiency in the next few years. Currently, the project’s expansion is valued at EGP 1.6 billion and is expected to operate with a production capacity of 660,000 tons per year of naphtha in addition to producing butane.
Atoll field’s production increased by 28% from 250 million cubic feet of natural gas per day (mmcf/d) to 320 mmcf/d during fiscal year (FY) 2019/20.
The High Executive Committee of Egyptian Petroleum Show (EGYPS) Conference has announced that its fifth edition will be hold in the period from 31 May to 2 June of 2021 under the slogan of “North Africa and the Mediterranean: Delivering Energy Today”.
President Abdel Fattah Al-Sisi ratified Law No. 159 of 2019 authorizing the Minister of Petroleum and Mineral Resources (MoP) to contract with the Egyptian General Petroleum Corporation (EGPC) and Neptune Energy.
The Minister of Petroleum and Mineral Resources, Tarek El Molla said the they are currently implementing the program of Enterprise Resources Planning (ERP) which came in the framework of digitizing the petroleum sector noting that it will be finalized at the end of 2021.
United Oil & Gas PLC (UOG) has appointed Iman Hill as an Independent Non-Executive Director, according to a press release.
Zohr field’s production capacity now exceeds 3 billion cubic feet per day (bcf/f), representing 40% of Egypt's total natural gas production.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, said that natural gas usage as fuel will save about EGP 1,200 monthly for each citizen who uses an average 10 liters of gasoline 92 per month.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
