SUMED Successfully Runs Nine New Warehouses
Arab Petroleum Pipelines Company (SUMED) has succeeded testing nine overland warehouses with a total capacity of 300,000 cubic meter, according to an official source in the petroleum sector.
News / Egypt
Egypt Invests EGP 2.9 B EGP in Electricity Grid Development
Hossam Afifi, North Cairo Electricity Distribution Co.’s Head, presented a company investment’s report showing total investments of 2.930 B EGP.
The Egyptian Government Takes Up Bi-Fuel Vehicles
The Egyptian Prime Minister, Mostafa Madbouly, followed up on the duel-fuel vehicles program and urged the formation of a team to handle the program.
Maridive Sells $37 MM Stake to Najjad Zeenni
Zeeni who is Chairman, CEO and a 25%-Shareholder in Maridive’s subsidiary Valentine will acquire 60 million shares in Maridive. Meanwhile, Valentine would become 100% owned by the parent company, instead of being a 75% owned by Maridive.
Egypt, US Discuss Petroleum Sector Cooperation
Egypt's petroleum exports to the US increased by %44, reaching $176.9 million during 2019, compared to 2018 when it was $122.9 million.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
PM Handles New Fuel Price Violations
Egypt’s Prime Minister, Mostafa Madbouly is reviewing the complaints received by the unified government complaints system that followed the new prices of petroleum products.
Ministry of Petroleum to Establish $8.031 B Refining Projects
The Ministry of Petroleum is currently implementing $8.031 billion worth of projects in the refineries across Egypt to increase its refining capacity and to achieve the best efficiency in the petroleum products productivity.
Enap Sipetrol to Execute an Organizational Restructure
Enap Sipetrol executed a top management restructure in Egypt branch in order to strengthen and grow its operation and investment in Egypt.
Egypt Reduces IOC Arrears to $900 MM: El Molla
The total arrears that shall be collected by the foreign crude oil companies backed off to $900 million by the end of last June.
