Qalaa Invests $4.7 B in ERC Project
Egypt’s Qalaa Holdings’ Chairman, Ahmed Heikal, announced that the company has implemented investments in the Egyptian Refining Company's (ERC) project totaling $4.7 billion.
News / Egypt
EETC Signs $200-MM Energy Agreement for Aswan Solar Station
The Egyptian Prime Minister, Moustafa Madbouly, witnessed the signing of an agreement to purchase energy for a solar power generation project under a Build-Own-Operate (BOO) system, with a capacity of 200 megawatts (MW), in Kom Ombo, Aswan, worth nearly $200 million.
Natural Gas Sector Contributes to Economic Growth in Q1
Egypt's Minister of Planning, Hala El Saeed, said that the sectors of telecommunications, construction, tourism, industry, natural gas, and the Suez Canal recorded the highest rate in the economic growth during the first quarter of the fiscal year (FY) 2019/20, noting that the Purchasing Managers' Index (PMI) witnessed 49.5 points increase in September, 2019.
El Sisi Issues New Decree for Oil Exploration in the WD
President Abdel Fattah El Sisi issued a presidential decree allowing the Minister of Petroleum and Mineral Resources, Tarek El Molla, to contract with the Egyptian National Petroleum for Exploration and Development Company (ENPEDCO) and the Egyptian General Petroleum Corporation (EGPC) to explore oil at Abu Sinan and Ras Qattara concessions in the Western Desert.
El Molla Participates in 4th EU-Arab World Summit
The Minister of Petroleum and Mineral Resources, Tarek El Molla, asserted the necessity of utilizing the tripartite cooperation between Egypt, Cyprus, and Greece in the Eastern Mediterranean region as an important model in order to deepen the Arab-European partnership and develop cooperation in diverse fields, citing a governmental statement.
EBRD Finalizes Egypt’s $4 B Benban Solar Power Park
The European Bank for Reconstruction and Development (EBRD) announced the completion of Egypt’s Benban solar power park, worth $4 billion, saying: “After three years of work, construction of one of the largest solar parks in the world is now complete and all its plots are now operational.”
Malaysia Posts $9 B Oil, Gas Investments in Egypt during 2018
The Malaysian investments in Egypt’s oil and gas sector reached nearly $9 billion, Malaysia’s ambassador to Cairo, Mohamed Abd Rahman, said during the inauguration of the Malaysian-Egyptian Business Forum in Cairo.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Egypt Contributes to Libyan Oil Sector’s Reconstruction
The Egyptian Ministry of Petroleum and Mineral Resources has welcomed Libya’s National Oil Corporation’s Chairman and Libya's acting oil minister, Mustafa Sanallah, to discuss boosting bilateral cooperation in the oil and gas field.
Halliburton, Baheya Organize Early Detection Awareness Seminar
Halliburton, one of the world's largest providers of products and services to the energy industry, invited Baheya Foundation to organize a breast cancer awareness seminar on October 21.
