Eni Pays $1 B over Three Years for Zohr Drilling Rig Rental
Egypt paid a total of $1 billion over three years for renting Saipem 10000 drilling rig, which is working in the Zohr natural gas field.
News / Egypt
Egypt Talks $500 M with HSBC
HSBC Egypt agreed to be the financial consultant to secure a $500 million loan to finance the imports of the market's demands of diesel, benzene and mazut, in addition to paying a part of arrears to IOCs.
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 Pays $35 M to Dana Gas
Egypt has paid an additional $35 million to Dana Gas as a part of its overdue.
GPC Seeks EGP 2.4 B Banking Finance
The negotiations are still at the initial phases, a source at GPC noted.
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.
