In collaboration with the Minister of Trade and Industry, the Ministry of Petroleum and Mineral Resources aims to convert 147,000 gasoline-based vehicles to natural gas-based vehicles in three years, valued at EGP 1.2 billion.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Pharos Energy’s Egypt production has amounted to 5,979 barrels of oil per day (bbl/d) in H1 2020.
The Egyptian President Abd El Fattah El Sisi has directed to form a full strategic vision in the aim of updating the mineral sector in Egypt to discover the hidden regions containing mineral resources.
The Minister of Petroleum and Mineral Resources Tarek El Molla reviewed several projects including the Automatic Tank Gauging (ATG) project implemented in service stations. This came during a meeting with the supreme committee for petroleum sector projects.
Egyptian Natural Gas Company (GASCO) announced that its chemical refinery in the Western Desert Gas Complex obtained an approval from the Egyptian Accreditation Council (EGAC) for applying the international standard of ISO/IEC 17025:2017 while testing natural gas and liquified natural gas (LNG).
The Egyptian International Gas Technology (Gastec) began conducting an operational trial for the new natural gas supply station in Hurghada.
Egypt’s Fuel Automatic Pricing Committee decided to keep the current fuel prices the same during Q3 2020, which will see the prices stabilizing the local markets.
The Egyptian General Petroleum Corporation’s (EGPC) budget for the fiscal year (FY) 2020/21 was set at EGP 680.56 billion.
Assiut National Oil Processing Company (ANOPC) has inked an Engineering, Procurement, and Construction (EPC) contract with TechnipFMC, Enppi, and Petrojet valued at $2.8 billion.
