Dana Gas Confirms Hiring Financial Advisors to Sell Egyptian Assets
Dana Gas confirmed that it is studying the possibility of selling its Egypt asset portfolio and has hired financial advisors accordingly.
News / Egypt
Egypt’s Electricity Reserves Exceed 20%
President Abdel Fattah El Sisi stated that the electricity reserves in Egypt have reached more than 20%, which can be exported to the neighboring countries.
MSMEDA Turns 34,400 Vehicles into Gas-Powered Ones
Micro, Small and Medium Enterprise Development Agency (MSMEDA) funded EGP 274 million to turn 34,400 vehicles into being gas-powered ones.
BP to Increase North Alexandria’s Gas Production to 1.5 bcf/d
BP that acquires 82.75% of North Alexandria’s Gas Project is planning to launch its third phase by the end of 2019, which will raise production to 1.5 billion cubic feet per day (bcf/d) by 2020.
Electricity Grid Holds Up To 30,400 MW
The electricity generation capacity across Egypt is currently stable with no power-cuts as power plants are constantly supplied with sufficient amount of natural gas and mazut.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Dana Gas to Consider Selling $500 MM Egyptian Assets
Dana Gas is being consulted on whether to sell its $500 million offshore Merak-1 well in Egypt as no commercial discovery has been made there.
East Med Seven Seek Energy Cooperation
Energy ministers declared to increase cooperation to develop the region’s gas reserves following the East Mediterranean Gas Forum (EMGF) in Cairo.
Egypt, US Sign Energy Cooperation MoU
Minister of Petroleum and Mineral Resources Tarek El Molla signed a memorandum of agreement (MoU) with US Secretary of Energy Rick Perry to boost bilateral cooperation in the oil and gas industry.
EMGF Second Meeting Concludes in Cairo
The Second Ministerial Meeting of the East Mediterranean Gas Forum (EMGF) was held in Cairo on July 24-25, as per the invitation of H.E Eng. Tarek El Molla, the Minister of Petroleum and Mineral Resources.
