Petroleum Sector Nourishes Egypt’s Economy
Egypt’s economy has managed to retain a stable economic growth rate in Fiscal Year (FY) 2019/20, reaching 5.6%, despite the continued slowdown in the global growth rates.
News / Egypt
Protocols of Cooperation to Settle Decades-Old Financial Debts
 In an effort to end the financial debts accumulated for more than 30 years, the Ministries of Electricity and Renewable Resources, Petroleum and Mineral Resources, Finance, and the General Public Sector signed three protocols of cooperation.
Gaston to Deliver Natural Gas Through Tankers
Mohamed Saad El-Din, Chairman of Saad El-Din Group and Liquefied Petroleum Gas (LPG) Investors Association, announced the implementation of the first phase of the government’s plan to deliver natural gas to housing units through tankers, with a total investment of EGP 150 million.
Dragon Oil to Boost Investments in Egypt by $650 MM
Dragon Oil is planning to increase its investments in Egypt through acquiring some operating assets in the Western Desert in the next five years.
Egypt, Italy Sign EPC Contract Worth $2.5 billion
The Minister of Petroleum and Mineral Resources, Tarek El Molla, and the Italy’s Ambassador in Cairo, Giampaolo Cantini, witnessed the signing of Engineering, Procurement and Construction (EPC) contract for establishing Mazut Hydrocracking Complex in upper Egypt with a cost of $2.5 billion.
El Molla Reviews Rashpetco’s Budget for FY 2019/20- 2020/21
The Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, headed Rashpetco’s general assembly meeting to review the amended planning budget of Fiscal Year (FY) 2019/20 and the planning budget for FY 2020/21.
Dana Gas Boosts Core Operations Net Profits by 80% YoY in 2019
Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announced on February 12 achieving a surge in its net profits by 80%, reaching $115 million in 2019, compared to $64 million in 2018
Shell Open to Receive Offers for its Western Desert’s Assets
Khaled Kacem, Shell Egypt Country Chairman and Managing director, announced that the company is still open to accepting purchasing offers to its assets in the Western Desert.
GUPCO Targets Production of 77,000 BBL/D in FY 2020\21
The Gulf of Suez Petroleum Company (GUPCO) has approved a budget of around $543 million to achieve a production rate of around 77,000 barrels per day of crude oil (bbl/d) in Fiscal Year (FY) 2020\21, GUPCO Chairman, Mohamed El Meligy said.
Two New South Disouq Wells for SDX Energy
SDX Energy Plc, the Middle East and North Africa (MENA)-focused oil and gas company, announced on February 14 the commencement of drilling operations in Salah and Sobhi wells at South Disouq.
