The total electricity generated from renewable resources from wind and solar energy reached 2,780 gigawatts per hour (GW/H) in fiscal year (FY) 2016/2017 compared to 2,225.5 (GW/H) in FY 2015/2016, with an increase of about 24.9%.
The Egyptian General Petroleum Corporation (EGPC) signed a cooperation protocol with ESLSCA to train the sector’s leaders, in line with the sector's Modernization Project.
The current diesel production rate stands at 500,000 tons per month, covering around 45% of the local consumption.
The Chinaese Silk Road Fund has become a leading partner and shareholder in ACWA Power Renewable Energy Holding (ACWA Power RenewCo).
The Ministry of Electricity has pumped investments of around EGP 1.4 billion in El-Beheira, Matrouh, and El Menoufia to redevelop the power grid.
Petroleum Arrows' market share in petroleum products transportation across Egyptian governorates stands at 23%, with a rate of about 8.5 million liters per day.
Petroleum product subsidies have been decreased by nearly 40% to EGP 52.9 billion in the public budget for fiscal year 2019/2020.
SIDPEC signed a final contract with Alex Fiber to acquire a land lot, which it will use to construct a $1.2 billion expansion project to produce propylene and polypropylene.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
President Abdel Fattah El Sisi held a meeting on June 23 to follow up on some of the petroleum sector major projects, especially exploration and production in natural gas and oil fields, as well as delivering natural gas to housing units.
