Egypt Petroleum Trade Deficit Dropped by 29% YOY
Egypt's petroleum trade deficit dropped by 29% year-on-year (YOY) in Q1 of fiscal year (FY) 2018/19, recording -$688.1 million, compared to -$970.4 million in same period of 2017/18.
News / Egypt
EMGF Kicks-off from Cairo Announcing Forum’s Main Objectives
EMGF kicked-off from Cairo on January 14, hosting the Greek, Cypriot, Italian, Israeli, Jordanian and Palestinian Ministers of Energy, who came to Egypt upon the invitation of Egyptian Minister of Petroleum Tarek El Molla.
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Egypt to Halt Benzene, Diesel Imports within Two Years
Halting the imports will be achievable as Egypt is conducted several expansion projects in refineries, including Middle East Oil Refinery (Midor) and Egyptian Refining Company (ERC).
El Molla Inaugurates the ‘Egypt Energy Hub in the Era of Digital Transformation’ Seminar
Egyptian Petroleum Minister Tarek El Molla, inaugurated the 'Egypt Energy Hub in the Era of Digital Transformation' seminar, which was hosted by Raya IT Company.
Egypt, Jordan Review Gas Agreements
Egypt and Jordan signed amendment agreement for the agreements and memoranda of understanding (MoU) between the natural gas companies in the two countries.
Egypt to Revise Zohr Gas Price Formula by the End of 2019
Revising the price is based on the development agreement, which states the revision of prices two years following production start.
GPC Targets 79,000 boe/d in FY 2019/20
The increase will be achieved according to the company's plan to drill 38 exploratory and development wells, and to complete 13 other wells in its concessions. The company further seeks drilling 19 exploratory and development wells and maintain 15 wells in the concessions in which it is working with international oil companies (IOCs) as per exploration and production (E&P) agreements.
Rashpetco, Burullus Gas to Invest $500M in FY 2019/20
Rashpetco and Burullus Gas plan to pump investments totaling $500 million to execute different project, including the 9B phase project, and the construction of a pipeline connecting the West Delta Deep Marine (WDDM) gas fields.
Bidders to Offer $2 B for Edison E&P Assets
Apex International Energy and Neptune Energy are among companies considering bids to purchase up to $2 billion of Edison's exploration and production (E&P) assets in Egypt and Italy.
