The meeting discussed the updates of the national project designed to connect households to the natural gas national grid, in which both the World Bank and AFD contribute in funding, along with the European Union (EU).
Oil goods exports grew by 18.4%, recording $14.3 billion in H1 FY 2018/19 compared to $12.1 billion in H1 FY 2017/18, which contributed to decreasing the deficit in the balance of trade.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Egyptian Prime Minister, Mostafa Madbouly, met with Minister of Petroleum, Tarek El Molla, to review the status of several oil and gas projects.
Egypt recently established a single data base that connects all employees in the oil and gas sector to the Ministry of Petroleum, the Egyptian General Petroleum Corporation (EGPC) and other holding companies.
The decision came as the technical committee assigned for 95-octane gasoline pricing met on March 31. The technical committee reconsidered the pricing scheme in light of the recently announced Central Bank of Egypt (CBE) data on the Egyptian pound appreciation against the US dollar, as well as the recent global Brent prices of Q1 2019.
Egyptian butane imports decreased by 8.36% year-on-year (YOY), reaching 239,000 tons in January 2019, compared to the 260,800 imported in January 2018.
According to the new partnership deal, Rovco will be offering advanced subsea services to firms working in Egypt, which comes as a part of its plan to boost business in the region throughout the upcoming five years.
Dana Gas received $10 million from the Egyptian government, as well as $9 million from the sales of El Wasatani field's condensates.
Engineering for the Petroleum & Process Industries (Enppi) has signed contracts worth of EGP 16.4 billion in 2018, of which EGP 8.9 billion were directed for operations in Egypt and EGP 7.5 billion were directed abroad.
