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
South Sinai Governor Inaugurates 55 KWH Station
South Sinai Governor, Khaled Fouda, has inaugurated a solar energy station in Abu Ghrkud village at Abu Rudeis in the presence of Schneider Electric Egypt's Deputy CEO, Sherif Abdel Fattah.
Egypt’s Petroleum Ministry Inaugurates IJC 14
The Egyptian Ministry of Petroleum and Mineral Resources inaugurated the 14th International JODI (Joint Organizations Data Initiative) Conference (IJC 14) in Cairo, which will be from October 20 to 21, 2019.
Shell Egypt to Sell Onshore Upstream Assets in WD
Shell Egypt is putting its current onshore upstream assets in the Western Desert up for sale to be able to focus on expanding its Egyptian offshore exploration and integrated gas business.
Apache Corp Plans Boosting Investments in Egypt – CEO
Apache Corporation ‘s President and CEO, John J. Christmann, said that the firm has plans to increase investments in Egypt through using cutting-edge oil and gas exploration technologies, citing Ahram Online.
Qalaa Holdings to Boost ERC’s Production to 5.5 mtpa in January
Egypt’s Qalaa Holdings’ Chairman, Ahmed Heikal, announced that the company will operate 100% of its refinery units in the Egyptian Refining Co (ERC) in January, noting that the production capacity will be increased to 5.5 million ton per annum (mtpa) in 2021 from 402 mtpa.
Shell to Increase Investments in an Arrear-Free Climate
According to the Executive VP Upstream JVs at Shell, Gerald Schotman, Shell plans to begin operating its concession areas in Egypt during H2 2020.
El Molla Suggests EXIM to Fund US Oil Firms to Invest in Egypt
The Minister of Petroleum and Mineral Resources, Tarek El Molla, suggested Export-Import Bank of the United States (EXIM) contribute to financing private sector entities that desire investing in Egypt’s natural gas field, in light of the East Mediterranean Gas Forum (EMGF)’s initiative.
Schlumberger to Pump More Investments in Egypt
Schlumberger plans to increase its investments in Egypt in the upcoming period, according to Karim Badawi, Managing Director - Egypt and East Mediterranean at Schlumberger.
MOC 2019 Announces Abstract Winners
As the Mediterranean Offshore Conference and Exhibition (MOC 2019) comprised a number of abstracts and presentations from international oil companies (IOCs), Osama El Bakly, Chairman of Egyptian Natural Gas Holding Company (EGAS) and Chairman of MOC 2019, took the chance to honor five of the best research papers.
