The Ministry of Electricity has agreed to pay EGP 1.3 billion per month to the Ministry of Petroleum, in exchange for fuel supplies provided to the power generation plants. It has also paid EGP 35 billion of its arrears.
The government will increase gasoline supplies pumped to the local market during Eid Al-Adha feast, by around 10% to nearly 25 million liters per day.
Prime Minister Mostafa Madbouly held a meeting with the Ministers of Petroleum, Electricity, and Finance to follow up on resolving financial entanglements.
Rashid Petroleum Company (Rashpetco) has successfully prepared the first safety brochure for logistics services in the Petroleum Sector.
Recently increased electricity prices have led to a decrease in consumption by around 3% to 4%.
The Ministry of Electricity has installed around 1.1 million prepaid meters across Egypt this year.
The National Renewable Energy Authority (NREA) will announce next month a tender to establish a 20-megawatt (MW) solar power plant in Hurghada.
North Delta Electricity Distribution Company (NDECO) has allocated EGP 79.9 million to replace overhead power transmission lines with underground cables.
The Egyptian government is planning to double the number of crude oil hedging contracts for fiscal year (FY) 2019/20.
The Ministry of Electricity has launched a training program on "Policy, Financing, and Implementation of Energy Projects" in cooperation with the Egyptian Electricity Holding Company with participants from 12 African countries.
