More Fuel Subsidy Cuts Coming in mid-2019: Fitch Solutions
Egypt will make further cuts to fuel and energy subsidies in mid-2019, a Fitch Solutions report predicted.
News / Egypt
Schlumberger Signs Three MoUs during ECE Inauguration
Schlumberger has officially inaugurated the Egypt Center of Efficiency (ECE) facility at the Polaris Industrial City in 6th of October. The event also witnessed the signing of three memoranda of understanding (MoUs) covering HSE, capacity building, and cooperation in processing and separation systems.
Paying Arrears to IOCs Attracts Investments: ECHEM Head
The Egyptian government's perseverance with paying receivables to international oil companies (IOCs) will help the country to attract further investments, Chairman of the Egyptian Petrochemical Holding Company, Saad Helal, has said.
Self-Sufficiency Must be Achieved Before Gas Exports Can Begin: El Molla
Egypt will begin exporting natural gas after it has achieved self-sufficiency, Minister of Petroleum Tarek El Molla has said.
Firms Need GMRA Approval to Import Gas: El Molla
Companies approved by the Egyptian Natural Gas Holding Company (EGAS) to import natural gas must obtain approvals from the Gas Market Regulatory Authority (GMRA), Minister of Petroleum Tarek El Molla has said.
Egypt Signs 63 Petroleum Agreements in Four Years: El Molla
Egypt has signed 63 petroleum agreements over the past four years with around $14 billion of investment.
Red Sea E&P Bidding to Start in Two Weeks
The Ministry of Petroleum will open bidding for exploration and production (E&P) contracts in the Red Sea within the coming two weeks.
Egypt Constitutional Committee Authorizes Egypt-Cyprus Pipeline Agreement
Egypt's Constitutional Committee authorized the Egypt-Cyprus agreement to establish a natural gas subsea pipeline on December 9.
Egypt Cancels Fuel Hedging Contracts
The Ministry of Finance has canceled plans to purchase fuel hedging contracts from international financial institutions.
BP, Mubadala Purchase 45% Stake in Eni’s Noor Concession
Egypt has approved the sale of a 25% stake in Eni's offshore exploratory Noor concession to BP.
