Egypt’s Budget Deficit Decreases to 1.9% in Q1 2018/19
Egypt's budget deficit decreased to 1.9% during Q1 of fiscal year (FY) 2018/19, compared to 2% in the previous fiscal year, stated Minister of Finance Mohamed Maait.
News / Egypt
Ganope Holds Red Sea E&P Workshop
Minister of Petroleum Tarek El Molla inaugurated a workshop on November 19 organized by Ganoub El Wadi Petroleum Company (Ganope) on the oil and gas exploration and production (E&P) in the Red Sea.
Egypt, US to Boost Oil, Gas Cooperation
Egyptian Minister of Petroleum Tarek El Molla met with Francis Fannon, Assistant Secretary for the Bureau of Energy Resources (ENR) at the U.S Department of State, to discuss cooperation in the oil and natural gas sector.
TransGlobe Tests Three Intervals in Bahariya Formation
TransGlobe Energy Corporation started testing three intervals in its Bahariya formation, which showed 3,840 barrels per day (b/d) of light oil from both the Bahariya and Lower Bahariya.
Shell to Increase Burullus, Rashid Gas Production
Shell is looking to increase natural gas production from its Burullus and Rashid fields to 450 million standard cubic feet per day (mmscf/d) by the end of fiscal year (FY) 2018/19, up from the current 400 mmscf/d.
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Misr Petroleum, COOP to Launch New, Reformulated 95-Octane Benzene
Misr Petroleum Company and Egypt's Co-operation Petroleum Company (COOP) will launch a new reformulated 95-octane benzene, which will be sold at the same price of 95-octane benzene.
Egypt M&A Value Soars to $1.5B in 2018: Mergermarket
Egypt's mergers and acquisitions (M&A) value increased by 285.6%, reaching $1.5 billion in 2018 with a total of 14 deals, compared to $389 million in 2017 that had only 10 deals.
ASORC Negotiates $500M Loan
The Assiut Oil Refining Company (ASORC) has completed talks with local and Gulf banks for a $500 million loan, a part of the $1.9 billion financing package for the mazut hydrocracking complex.
Qalaa Holdings Showcases ERC at African Forum
Qalaa Holdings Company presented its $4.3 billion Egyptian Refining Company (ERC) at the African Investment Forum as a case study for boosting the attractiveness of private investment using policy reform.
