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
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.
ANRPC Increases Gasoline Production by 700,000 Tons Annually
Alexandria National Refine & Petrochemical Company (ANRPC) established two Naphtha refineries projects that aim to maximize the company’s Gasoline production with 700,000 tons.
Energy Sector Receives EGP 266.7 B in Nine Months
This was announced in a report by the Ministry of Planning, Monitoring and Administrative Reform on the results of the projects implemented during the first nine months of fiscal year (FY) 2018/2019.
El Sisi Meets US Energy Minister to Bolster Cooperation
President Abdel Fattah El Sisi met with the US Energy Secretary Rick Perry to discuss US investments in the area of exploration and production (E&P) and petrochemicals in Egypt.
PM Hands EPRI’s Directory to Yasser Mostafa
Mostafa Madbouly, Egypt’s Prime Minister issued decree number 1773 for the year 2019 to assign the Egyptian Petroleum Research Institute (EPRI)’s directory to Professor Yasser Mostafa.
El Molla Meets US Energy Minister to Strengthen Cooperation
This came during the arrangement of the second East Med Gas Forum conference with the participation of the East Med Seven countries.
