Petroleum Arrows Acquires 24% of Fuel Distribution in Egypt
Petroleum Arrows Company acquires around 24% of the total distribution of petroleum products such as gasoline, diesel and mazut across the country.
News / Egypt
Ministry of Finance to Receive 25% of Gas Market Regulatory Authority’s Profits
The Ministry of Finance will receive 25% of the Gas Market Regulatory Authority’s profits, while the remaining 75% will belong to the regulator.
Cabinet Approves Solar Project Talks with Eni
The cabinet approved establishing a 200 MW solar plant by Eni, considering that the price of electricity produced from the plant will be of the same value as the prices received to transmit electricity in Kom Ombo bid for $0.027 per 1 kW/h.
El Molla Meets with Youth in HSE Training Program
The meeting was held at the end of the first phase of the program, which had been launched as a part of the ministry's Modernization Project to invest in developing the oil and gas sector's human resources and support young talents.
El Sisi Approves E&P Agreement in GOS
According to the agreement, the company will search for and develop oil at the Ras Budran and El Zeit Bay oil fields in the Gulf of Suez (GOS).
Egypt, Sweden Cooperate to Develop Smart Grids
The Egyptian Ministry of Electricity is in talks with Sweden to exchange knowledge and expertise on smart grids.
Natural Gas Output Grows by 1.2 M Tons
The development work in Zohr field and some of the exploration fields in the Mediterranean contributed to a production leap early in 2019, increasing production by 700,000 tons in January 2019.
Egypt Pays EGP 60.1 B in Fuel Subsidies in 9 Months
Fuel subsidies cost thus decreased by 28.45% compared to the EGP 84 billion paid in the first nine months of FY 2017/18.
Benban Solar Park Attracts over $2 B Investments
Benban solar park, which is set to be the biggest in the world, attracted over $2 billion investments.
EGAS Forecasts 12.3% Increase in Gas Consumption
EGAS expects the country's natural gas consumption to grow by 12.3%, reaching 7.3 bcf/d in FY 2019/20.
