ITFC Provides $8 B to Petroleum Sector Since 2008
The petroleum sector’s dealings with the International Islamic Trade Finance Corporation (ITFC) have reached $8 billion over the last decade.
News / Egypt
El-Molla Discusses Oil Imports, Investments with KPC
Minister of Petroleum Tarek El-Molla discussed with a delegation from the Kuwait Petroleum Corporation (KPC) investment opportunities and projects, especially refining Kuwaiti crude oil in Egyptian refineries.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
El Molla Reviews New Projects with Schlumberger
The meeting reviewed the work progress of the new techniques used in seismic data collection in Gulf of Suez, aimed for preparing a study of new geological concepts and increasing production and reserve rates.
Egypt to Hedge Oil Prices in FY 2019/20
Egypt plans to apply an oil hedging mechanism in fiscal year (FY) 2019/20 that starts in July after its efforts to lock-in oil prices in the FY 2018/19.
Dana Gas Receives $48 MM from Egypt
Dana Gas PJSC has received around $48 million from its operations in Egypt in June 2019; of which $38 million from the Egyptian government and the remaining $10 million from selling the second El Wastani condensate shipment in 2019.
Egypt Adds 3.9 MM Households to Natural Gas Grid in 5 Years
The Ministry of Petroleum and Mineral Resources has announced linking around 3.9 million households, 7,801 commercial units, and 266 factories to the national natural gas grid during the past five years.
BUE Students Research Nanotechnology in Oil Production
The Faculty of Engineering at the British University in Egypt (BUE) discussed graduation projects by students of the Petroleum Engineering and Gas Technology department (PEGT), led by the use of nanotechnology in improving oil production.
EETC, Siemens Ink EGP 21 MM Contracts
The Egyptian Electricity Transmission Company (EETC) signed two contracts with Siemens Egypt at a cost of EGP 21 million.
SDX Announces New Discovery in West Gharib
The production capacity of the new well is estimated at 415 barrels per day (b/d).
