Egypt Targets Boosting Crude Oil Production by 10,000 b/d
The Egyptian Ministry of Petroleum and Mineral Resources is aiming to increase crude oil production by 10,000 barrels per day (b/d) by the beginning of 2019.
News / Egypt
Petroleum Production Rose by 1.53% YOY in August
Production of crude oil, condensates, and butane increased by around 1.53% year-on-year (YOY) in August 2018, producing 2.852 million tons compared to 2.809 million tons in August 2017.
Natural Gas Production Increases by 19.59% YOY
Egypt’s natural gas output rose by around 19.59% year-on-year (YOY) to reach 4.023 million tons in August 2018, compared to 3.364 million tons in August 2017.
Eni to Invest $5B in Zohr Gas Processing Plant
Eni has estimated that it will invest $5 billion to construct a gas processing plant for Zohr natural gas field.
Egypt’s Production of Crude Oil and Condensates Increases to 660,000 b/d
Egypt’s crude oil and condensates production increased to 660,000 barrels per day (b/d) in October 2018.
Egypt, IMF Reach Staff-Level Agreement for $2B Loan Disbursement
The International Monetary Fund (IMF) reached a staff-level agreement with the Egyptian government on October 30, paving the way for the release of the fifth loan tranche of $2 billion.
Banque Misr Approves $181.5M Letter of Credit to EGPC
Banque Misr approved granting a letter of credit worth $181.5 million for the Egyptian General Petroleum Corporation (EGPC), an official at the bank stated.
Shawcor Presents the Flexpipe Linepipe to EGPC
Shawcor presented its flexpipe to a team of engineers working in the Egyptian General Petroleum Corporation (EGPC) at the company's headquarters in Cairo on October 29.
Midor Signs $1.2B Loan Agreement
Middle East Oil Refinery (Midor) has signed the final contracts for a $1.2 billion syndicated loan from Italy’s CDP, France's BNP Paribas, and Crédit Agricole.
Finance Ministry to Allocate $80/Barrel of Oil in the 2019/20 Budget: Government Official
The Egyptian Ministry of Finance will calculcate the 2019/20 budget using a benchmark oil price of $80 per barrel.
