Egypt Cuts IOCs Arrears by 80% in 6 Years
Minister of Petroleum and Mineral Resources Tarek El-Molla revealed that Egypt has successfully decreased foreign partners' arrears by more than 80% between 2012 and 2018.
News / Egypt
El-Molla Discusses Cooperation Projects in Lebanon
Egypt and Lebanon agreed in May to increase cooperation in the energy sector, during the meetings of the High Joint Committee between the two countries.
Egypt To Achieve Fuel Self-Sufficiency in 4 Years
The Ministry of Petroleum and Mineral Resources aims to achieve self-sufficiency of fuel and petroleum products, in conjunction with the completion of new expansions of Egyptian refineries by fiscal year (FY) 2023/2022.
Sector Reforms Contribute to Rising Reserves, Economic Growth: El-Molla
Reforms within the Petroleum Sector helped raise the Egypt's economic growth rate from 2% to 5.5% and increase foreign exchange inflows to about $163.6 billion since 2015.
Egypt to Amend Oil Hedging Mechanism
The petroleum and finance ministries are adjusting the hedging mechanism for fiscal year (FY) 2019/2020 in line with recent global oil prices.
Total to Pump Investments in Egypt
French energy giant Total looks to increase its exploration and production (E&P) activities in the West Mediterranean and the Red Sea, as well as raising its overall investments in Egypt.
Scatec Solar Operates Third Plant in Benban
The commercial operation announcement is the second out of six plants in Benban.
Ministry of Petroleum to Build $8.5 B Petrochemicals Complex
The Ministry of Petroleum and Mineral Resources is studying the construction of a new refinery and petrochemicals complex in the Al-Alamein region with investments of about $8.5 billion.
Ministry of Petroleum to Implement 11 New Projects with $15 B Investments
This comes as result of achieving self-sufficiency and increasing natural gas production after the implementation of 27 projects to develop natural gas fields.
Egypt’s Oil, Gas Production Hits Record Level at 1.9 M boe/d
Minister of Petroleum Tarek El Molla announced that the Egyptian petroleum sector has recorded its highest ever production rate at 1.9 million barrel of oil equivalent per day (boe/d) of oil, gas, and condensates.
