HSBC to Manage AMOC’s Share Sales
Alexandria Mineral Oils Company (AMOC) has chosen British bank HSBC to manage its share sales on the Egyptian Exchange later this year.
News / Egypt
Electricity Output Jumps by 7.3% YOY in May
Egyptian electricity production jumped by 7.3% year-on-year (YOY) in May 2018, generating 17.7 megawatts per hour (MWh) compared to 16.5 MWh in May 2017.
Shell Exports 250 mmscf/d Natural Gas via Idku Plant
Shell has increased the amount of natural gas exported from its Idku liquefaction plant to 250 million standard cubic feet per day (mmscf/d), up from 150 mmscf/d in the previous fiscal year.
Butane Imports Decrease by 16.4% YOY in June 2018
Egypt's butane imports decreased by around 16.4% year-on-year (YOY) as the country imported 139,800 tons in June 2018, compared to 167,600 tons in June 2017.
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’s Natural Gas Output Reaches 6.6 bcf/d
Egypt has boosted its natural gas output to record 6.6 billion cubic feet per day (bcf/d) upon the news that Eni had succeeded in boosting Zohr's production to 2 bcf/d.
AMOC Posts EGP 1.48B Profit in 2017/18
Alexandria Mineral Oils Company (AMOC) posted profits of EGP 1.48 billion in fiscal year (FY) 2017/18, a 35% increase from the EGP 1.1 billion profit posted in FY 2016/17.
Egypt, ITFC Sign $2B Petroleum Finance Deal
The International Islamic Trade Finance Corporation (ITFC) has agreed to finance $2 billion worth of petroleum products, as a part of a larger $3 billion agreement with Egypt's Ministry of Investment to fund the import of a number of basic goods.
Abu Qir Achieves 263 mmscf/d Gas Output in 2017/18
Abu Qir Petroleum produced an average 263 million standard cubic feet per day (mmscf/d) of natural gas during fiscal year (FY) 2017/18, a 45% increase from FY 2016/17.
Zohr Production Reaches 2 bcf/d
Natural gas output from Zohr has reached 2 billion cubic feet per day (bcf/d) within the first nine months of production.
