The Egyptian Company for Natural Gas Distribution (Town Gas) announced in a statement published on October 14, 2019, its participation for the first time in the 10th Mediterranean Offshore Conference and Exhibition (MOC 2019).
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
The Egyptian Prime Minister (PM), Moustafa Madbouly, held a meeting with Toyota Tsusho’s President & CEO, Ichiro Kashitani, and a delegation of firms' officials, in the presence of the Minister of Investment and International Cooperation, Sahar Nasr, and Japan Ambassador in Cairo, Masaki Noke, citing a statement published by the Egyptian Cabinet’s page on Facebook.
The Egyptian Ministry of Petroleum issued the reassignments for the heads of companies belonging to the petroleum sector, aiming to support the petroleum sites with the necessary leadership and competencies to achieve future goals as well as exchange experiences.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced in an official report that the ministry plans to deliver natural gas to 1.2 million residential units during the current fiscal year (FY) 2019/20, adding that the plan witnessed a high implementation rate during the first quarter (Q1) with the support of a governmental initiative to deliver the natural gas to houses for EGP 30 per month over six years.
Wintershall Dea was awarded two offshore blocks; S-M-766 and C-M-845 in Santos and Campos basins in Brazil’s 16th bid round for oil and gas exploration blocks.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, held a meeting with the heads of the leading firms in terms of crude oil production in the petroleum sector: Petrobel, Khalda, Qarun, Badr El-Din, Agiba, and GUPCO, in order to follow up the implementation of crude oil production plans during the current fiscal year (FY) 2019/20.
The International Monetary Fund (IMF) has issued the report of the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF), as the completion of the review allowed the authorities to draw the equivalent of about $2 billion.
An official source in Egypt’s Ministry of Civil Aviation declared on Saturday, October 12, 2019 that an aircraft owned by the Petroleum Air Service company (PAS) had to make a forced landing at sea, 65 miles from the north of Port Said, on its return from one of the oil rigs toward Port Said city, according to a statement published by the Egyptian Cabinet.
The Egyptian Federation of Investors Associations (EFIA) will prepare a proposal for the Ministry of Finance (MoF) in order to determine gas prices for manufactures through a new mechanism namely “gas dollar” that will be like the “custom dollar” set by the MoF, EFIA’s Head of Tax and Customs Committee, Sobhi Nasr, said to Youm7 newspaper.
