This came after the Arab Organization for Industrialization (AOI), represented by the Arab-British Dynamics Company (ABD), in cooperation with the Engineering Petroleum Services (EPS), successfully renewed and developed the feeding unit according to the latest models.
Egypt’s arrears to international oil companies (IOC) fell by 5.5% to $850 million at the end of June, down from $900 million in 2019, the Minister of Petroleum and Mineral Resources Tarek El Molla told Reuters.
General Petroleum Company (GPC) has achieved a production record of 62,000 barrels per day (bbl/d) for the first time ever since its establishment in 1957.
The Minister of Petroleum and Mineral Resources (MoP) Tarek El Molla announced that the natural gas delivery project will be completed a year earlier than expected, connecting about 3.4 million housing units with natural gas by the end of the current fiscal year (FY) 2020/21.
The Ministry of Petroleum and Mineral Resources has released a report detailing the benefits of Compressed Natural Gas (CNG) as the best fuel for all vehicles.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, said the Egyptian Petroleum sector achieved unprecedented production rates of natural gas noting that local consumption rates of oil and gas declined during the previous five months mentioning that petroleum sector carried out 27% of the gross domestic product (GDP) according to the recent data.
The recent oil slump has narrowed the petroleum trade deficit in Q1 2020 by $405.1 million, amounting to $40 million against 445.1 million in Q1 2019, a 91% year-on-year (YoY) decrease.
Governor of Port Said, Adel Al-Ghadhban, discussed the executive steps for converting
gasoline-based cars to run on natural gas with representatives from Gastec, Car Gas, and Misr
Petroleum.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced that the new discovery of North Hammad concession in Delta is going to initially producing natural gas at a rate of 32 million cubic feet per day (mmcf/d).
Prime Minister Mostafa Madbouly reviewed an incentive scheme for converting old vehicles to
run on natural gas in addition to a strategy for manufacturing electric vehicles.
