Energean Acquires Edison for $750 MM
Edison exploration and production (E&P)’s portfolio of assets includes producing in in the growing eastern Mediterranean gas hub, with a significant presence in Egypt’s offshore basin.
News / Egypt
Egypt Records First Hydrocarbon Trade Surplus in 5 Years: CBE
Petroleum exports amounted to $3.2 billion while imports stood at $2.4 billion during Q4 2018.
Egypt Announces New Oil Discovery in Sinai
Petrobel plans to drill 10 developmental wells with a crude oil production rate of around 3,000 barrels per day (b/d).
Petrobel Introduces New HSE Fire Truck
The achievement was announced in order to fulfill the Ministry of Petroleum’s vision regarding enhancing the health, safety and environment (HSE) and preventing any accidents during the oil and gas manufacturing process.
Egypt to Export 2 bcf/d of Natural Gas by End of 2019
The Egyptian government is working on exporting around 2 billion cubic feet per day (bcf/d) of natural gas by the end of 2019, according to the Minister of Petroleum, Tarek El Molla.
Petroleum Products’ Subsidies Backs Economic Reform Program
The new petroleum products’ subsidies come in line with Egypt’s economic program, which aims to boost the sector.
Petroleum Arrows Transports 8.5 MM of Liters of Fuel Daily
A portion of the amount being transported will be allocated to the development projects being established by the government, such as Suez Canal and the New Administrative Capital.
ITFC Provides $8 B to Petroleum Sector Since 2008
The petroleum sector’s dealings with the International Islamic Trade Finance Corporation (ITFC) have reached $8 billion over the last decade.
El-Molla Discusses Oil Imports, Investments with KPC
Minister of Petroleum Tarek El-Molla discussed with a delegation from the Kuwait Petroleum Corporation (KPC) investment opportunities and projects, especially refining Kuwaiti crude oil in Egyptian refineries.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
