GPC Seeks EGP 2.4 B Banking Finance
The negotiations are still at the initial phases, a source at GPC noted.
News / Egypt
Egypt Has 19,000 New Gas-Powered Vehicles in 2018
The number of cars converted to natural gas reached 256,000 vehicles since the start of the conversion activities.
Electricity Production Increases by 7.6% YOY in September 2018
Egyptian electricity production increased by 7.6% YOY in September 2018, recording 18.4 MWh compared to 17.1 MWh in September 2017.
Egypt Diesel Production Falls 5.96% in YOY
Egypt’s diesel output fell by 5.96% YOY in October 2018 recording 552,000, down from 587,000 tons in September 2017.
Egypt to Float Benzene Prices in March
Egypt plans to announce its pricing mechanism for 95-octane benzene by the end of December 2018, to start linking the product to international prices in March 2019.
Petroleum Ministry Pays $18 M/Year for Renting BW Gas Regasification Unit
The FSRU, which is not working at the moment, has a LNG cargo ready to be pumped into the national gas grid when necessary.
Egypt Targets Increasing Refineries Production by 5 M Tons
The planned increase comes to cover growing fuel demands in the light of industrial and electricity recent projects that depend on fuel, in addition to the growing market demand of benzene, diesel and butane.
Egypt, Iraq Discuss Petroleum Projects
Minister of Petroleum, Tarek El Molla, met with his Iraqi Counterpart, Thamir Ghadhban, to discuss boosting joint relation in the oil and gas industries, as well as opportunities for Egyptian companies to increase its projects in Iraq.
Egypt’s Natural Gas Output Increases 27.7% YOY
Egypt’s natural gas output increased by 27.7% YOY to reach 4.176 million tons in October 2018, up from 3.27 million tons in October 2017.
Petroleum Products Consumption Fall by 7.4% YOY
Egypt’s consumption of petroleum products dropped by around 7.4% YOY in October 2018 to 2.749 million tons, compared to 2.969 million tons in October 2017.
