Zeeni who is Chairman, CEO and a 25%-Shareholder in Maridive’s subsidiary Valentine will acquire 60 million shares in Maridive. Meanwhile, Valentine would become 100% owned by the parent company, instead of being a 75% owned by Maridive.
Egypt's petroleum exports to the US increased by %44, reaching $176.9 million during 2019, compared to 2018 when it was $122.9 million.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Egypt’s Prime Minister, Mostafa Madbouly is reviewing the complaints received by the unified government complaints system that followed the new prices of petroleum products.
The Ministry of Petroleum is currently implementing $8.031 billion worth of projects in the refineries across Egypt to increase its refining capacity and to achieve the best efficiency in the petroleum products productivity.
Enap Sipetrol executed a top management restructure in Egypt branch in order to strengthen and grow its operation and investment in Egypt.
The total arrears that shall be collected by the foreign crude oil companies backed off to $900 million by the end of last June.
The value of petroleum products exports hiked by 231.1% and crude oil by 35%, increasing the value of the total exports by 0.5% to reach $2.58 billion in April 2019.
A Presidency meeting was set to tackle the electricity system development and the service improvement and the latest national grid’s development updates.
Minister of Petroleum, Tarek El Molla, discussed with Bechtel the development of a new petrochemical complex in the Suez Canal Economic Zone.
