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
Ganope to Boost Petroleum Production by 17%
Ganoub El Wadi Petroleum Holding Company (Ganope) is targeting to raise its petroleum production by 17% in its Fiscal Year (FY) 2020/21 plan
Sawiris Negotiates to Gain 51% of Shalateen Mining Company
Nagiub Sawiris, the Billionaire businessman, said that he negotiates with the government to acquire 51% stake in the state-owned Shalateen Mining company which came in parallel with his intent to start his activity in the mining industry.
Egyptian Natural Gas Exports to Jordan Resume
The Egyptian-Jordanian Fajr for Natural Gas Transport and Supply Company said that the Egyptian natural gas will be re-pumped again to Jordan within 48 hours in the same quantities agreed previously.
PMS Finalizes Offshore Platforms at Ain El Sokhna
Petroleum Marine Services Company (PMS)Â has finalized the construction and maintenance activities of the offshore platforms in the third basin at Ain El Shokhna, in cooperation with Armed Forces and Dubai Ports (DP) World.
Zohr’s Production to reach 3 BCF/D in March
Zohr field has succeeded in bringing four wells on stream so that the total number of wells reached 14 wells, whereas a new one is expected to be brought online next March with a total production capacity of 3 billion cubic feet (bcf).
Bilateral Chamber’s Visionary Leadership Award to Go to El Molla
The Bilateral Chamber announced that it will honor the Minister of Petroleum and Mineral Resources, Tarek EL Molla, with the 2020 Visionary Leadership Award during the 24th edition of the Annual Private VIP Board of Advisors Dinner.
New Transfers in the Petroleum Sector’s Legal Affairs Departments
The Minister of Petroleum and Mineral Resources, Tarek El Molla, has issued new transfers and assignments in the section of legal affairs in the petroleum sector in the aim of supporting the petroleum and mineral sites with the efficient leaders to achieve the future targeted goals.
Khalda’s Investments to Reach $792 MM in FY 2020/21
Khalda Petroleum Company's (Apache) investments are expected to reach $792 million during Fiscal Year (FY) 2020/21.
El Molla Reviews Qarun Budget for FY 2019/20 -2020/21
The Minister of Petroleum and Mineral Resources, Tarek El Molla, headed the general assembly meeting of Qarun Petroleum Company to review the adjusted budget for Fiscal Year (FY) 2019/20, and the planning budget for FY 2020/21.
