Petrojet Completes Major Projects in Suez Canal
Petrojet worked on the Suez Canal tunnels in Ismailia and other projects with the Armed Forces Engineering Authority.
News / Egypt
Ministry of Petroleum Upgrades Fuel Transportation and Storage Infrastructure
Ten new projects for oil and gas transmission lines are underway, in addition to three projects to increase the storage capacity in Delta, Upper Egypt, Greater Cairo, New Administrative Capital, Suez and Ain Sokhna.
Dragon Oil Acquires BP’s Stake in GUPCO
Dragon Oil has reached a full agreement with BP for the acquisition and the deal is expected to be completed after obtaining the Egyptian Ministry of Petroleum’s approval in H2 2019 following the necessary procedures.
Petroleum Arrows to Increase Fuel Distribution by 4%
Petroleum Arrows aims to increase the transportation and distribution of petroleum products by 4% in 2019.
Petroleum Ministry to Raise Pumped Fuel During Eid
Pumped fuel rates will be increased by up to 20% during the Eid holiday, with 25 million liters per day supplied to the local market, according to
Abed Ezz El-Regal, CEO of the Egyptian General Petroleum Corporation (EGPC).
Egypt Not Selling its Stake in Zohr: Cabinet
Egypt’s stake in the natural gas giant field remains unchanged, the Egyptian Cabinet stressed, asserting that all the rumors circulating in the media have no validity.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Electricity Consumption Falls by 2.59% YOY
Egypt’s electricity consumption decreased by 2.59%, recording 11.3 megawatts per hour (MWh) in February 2019, compared to 11.6 MWh in February 2018.
Egypt Diesel Output Declines by 11.83% YOY
Egypt’s diesel production decreased by 11.83% YOY in March 2019, recording 529,000 tons, compared to 600,000 tons consumed in March 2018.
GUPCO Deal to Add 70,000 b/d to Dragon Oil Portfolio: CEO
The $600 million transaction is a part of Dragon Oil's $13 billion expansion plans, of which $500 million are allocated for acquisition transactions in 2019.
