The Egyptian International Gas Technology's (Gastec) net profits increased in 2019 to EGP 64.2 million from EGP 14.2 million in 2018, and increased its revenues by 60% recording EGP 1,381 billion in 2019 against EGP 866,8 million in 2018.
The Chairman of Nile Petroleum Company, Nasser Shoman, said that his company is planning to operate new 17 fuel station during the fiscal year (FY) 2020 in addition to establishing sharing stations with the companies which transforming the vehicles to run on natural gas and supplying two airplane units.
The Chairman of Fajr Egypt company, Mohamed El Shorbagy, showcased the company’s 2019 achievements and its contribution inside and outside the country, noting that its subsidiary, the Egyptian Jordanian Fajr Natural Gas, has reinforced natural gas usage in Jordan, where 90% of electricity generation now depends on natural gas.
Natural Gas Vehicles Company (Car gas) increased the number of natural gas converted cars by 122% reaching 22,649 cars in 2019, compared to 10,212 cars in 2018.
Petroleum Marine Service (PMS) raised its assets and units by about $3 million in 2019.
Hamdy Abdel Aziz, Spokesperson for the Ministry of Petroleum and Mineral Resources, invalidated the fuel prices shared on social media as of April 1.
The Chairman of Tharwa Petroleum Company, Amr Elleithy, said that the company is planning to drill seven exploratory and developmental wells during 2020, noting that it seeks to obtain six concessions areas and cooperate with major international companies (IOCs) of Total, ExxonMobil, Chevron, BP, and Shell.
Egypt’s balance of payments ran an overall surplus of $ 410.9 million in H1 2019/20 compared to an overall deficit of $1.8 billion in the same period in 2018/19.
Petroleum Arrows has transported more than 10 million liter of petroleum products per day during 2019, with an increase of 24.5% compared to the previous year.
Egypt has connected a total of 10.7 million housing units with natural gas up until January 2020.
