Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
News / Egypt
EETC, IFC to Establish 600 MW Solar Plant
EETC signed an agreement with the IFC for establishing a 600 MegaWatt (MW) solar power plant west of the Nile.
Natural Decline of Burullus, Rasheed Fields to Reach 10 mmscf
Despite the high natural decline rate, 9B phase will make up for the decline as it gets connected to Burullus field before the end of fiscal year (FY) 2018/19.
ICT Becomes Integral to the Petroleum Industry
Information and communications technology (ICT) should be leveraged as an integral part of any industrial progress.
Methanex Egypt Sells 500,000 Tons of Methanol
Methanex Egypt sold 500,000 tons of methanol to the Egyptian market since it has started operating in the country.
50% of Benban Solar Park to be Complete in June
The companies have already commercially started operating some plants and are done with 40% the power plant’s projects.
Intro Group Appoints New Managing Director
Intro Group, the mother company of the National Petroleum Company (NPC) ADES Investments, has announced Mohamed Elakhdar to be the new Managing Director.
North Sinai Adopts New Petroleum Plan
The plan will be carried out after the quantities of petroleum products sold for each citizen through fuel stations are specified.
Zohr Condensates Production Increases
Condensate production from Zohr field increased by 14.29% due to the increase in the field's natural gas output, reaching around 4,000 tons per day compared to 3,500 tons per day in 2018.
EGAS, NOMP Ink Agreement for Smart Meters
The Egyptian Natural Gas Holding Company (EGAS), National Organization for Military Production (NOMP) signed a protocol for producing smart prepaid gas meters.
