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
Egyptian Students Win Shell’s Imagine the Future Competition
Shell announced that the team representing Zewail City of Science and Technology, Sound Clash, has won “Imagine the Future” international competition.
BP Targets 500 MMSCF/D in South Baltim Gas Project
BP is targeting to produce 500 million standard cubic feet per day (mmscf/d) of natural gas from its new discovery in the Baltim South Development Lease.
El Molla Discusses Bilateral Cooperation with Japan
Tokyo International Conference on African Development (TICAD7) will be held next August, allowing a lot of cooperation.
Shoukry Discusses Energy Cooperation in Cyprus
The Minister of Foreign Affairs, Sameh Shoukry, has met with the President of Cyprus, Nicos Anastasiades, and his Cypriot counterpart Nikos Christodoulides, to discuss boosting economic cooperation.
Egypt Allocates New Properties for EGPC
President Abdel Fattah El Sisi issued decree number 338 on August 1.
Egypt Revisits Electricity Projects Plan
The Ministry of Electricity and Renewable Energy decided to amend its electricity production projects plan until 2027 in light of the energy demand stability and production surplus.
GE to Build Monitoring Center in Egypt’s Benban Solar Park
The Egyptian Electricity Transmission Corporation (EETC) and GE Grid Solution, a General Electric (GE) company, signed a contract to establish a monitoring center in the Benban Solar Park in Aswan.
ERC Inks Pet Coke Deal with ACC
Arabian Cement Company (ACC) signed a Petroleum Coke (pet coke) deal with Egyptian Refining Co (ERC), which states that ERC should supply 300,000 tons of pet coke per year to ACC.
Electricity Sector Witnesses EGP 500 B Development Projects: El Sisi
The Egyptian government executed many projects worth EGP 500 billion in the electricity sector, President Abdel Fattah El Sisi clarified during the “Ask the President” session held on July 31 as part of the National Youth Conference
