Egypt's Minister of Planning, Hala El Saeed, said that the sectors of telecommunications, construction, tourism, industry, natural gas, and the Suez Canal recorded the highest rate in the economic growth during the first quarter of the fiscal year (FY) 2019/20, noting that the Purchasing Managers' Index (PMI) witnessed 49.5 points increase in September, 2019.
President Abdel Fattah El Sisi issued a presidential decree allowing the Minister of Petroleum and Mineral Resources, Tarek El Molla, to contract with the Egyptian National Petroleum for Exploration and Development Company (ENPEDCO) and the Egyptian General Petroleum Corporation (EGPC) to explore oil at Abu Sinan and Ras Qattara concessions in the Western Desert.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, asserted the necessity of utilizing the tripartite cooperation between Egypt, Cyprus, and Greece in the Eastern Mediterranean region as an important model in order to deepen the Arab-European partnership and develop cooperation in diverse fields, citing a governmental statement.
The European Bank for Reconstruction and Development (EBRD) announced the completion of Egypt’s Benban solar power park, worth $4 billion, saying: “After three years of work, construction of one of the largest solar parks in the world is now complete and all its plots are now operational.”
The Malaysian investments in Egypt’s oil and gas sector reached nearly $9 billion, Malaysia’s ambassador to Cairo, Mohamed Abd Rahman, said during the inauguration of the Malaysian-Egyptian Business Forum in Cairo.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
The Egyptian Ministry of Petroleum and Mineral Resources has welcomed Libya’s National Oil Corporation’s Chairman and Libya's acting oil minister, Mustafa Sanallah, to discuss boosting bilateral cooperation in the oil and gas field.
Halliburton, one of the world's largest providers of products and services to the energy industry, invited Baheya Foundation to organize a breast cancer awareness seminar on October 21.
The electrical loads witness stability all over Egypt on the national grid, in conjunction with uninterrupted electricity generation in various governorates, as well as a regular supply of fuel for power plants (natural gas or mazut), citing Amwal El Ghad.
The value of the petroleum sector’s imports of monthly fuel retreated to nearly $900 million in August 2019, by about $300–400 million during the same period a year earlier, an official source in Egyptian General Petroleum Corporation (EGPC) reported to Amwal El Ghad.
