Egypt to Reopen Damietta LNG Facility
The Ministry of Petroleum has reached an agreement with its partners in the Damietta liquefaction plant to gradually re-open the facility and export natural gas produced from Zohr in 2019.
News / Egypt
Government Official: Egypt Signs Oil Hedging Deals with Citibank and J.P. Morgan
Egypt has signed hedging contracts with American banks J.P. Morgan and Citibank to secure against fluctuating oil prices, according to a government official.
Qalaa Holdings Looks to Increase Shares in ERC
Qalaa Holdings is in negotiations to increase its shareholdings in the Egyptian Refining Company (ERC), according to the company's managing director.
Egypt Oil & Gas Launches CSR Subcommittee
The Egypt Oil & Gas CSR Subcommittee aims to promote CSR awareness in the Egyptian oil and gas sector, and increase participation in social programs and community services.
Petrobel Beats FY 2017/18 Production Targets
Belayim Petroleum Company (Petrobel) beat its fiscal year 2017/18 crude production targets, pumping 433,000 barrels of oil equivalent per day.
Petrobel Drilled 35 Wells in 2017/18
Belayim Petroleum Company (Petrobel) drilled 35 wells in fiscal year (FY) 2017/18 at a total cost of $179 million.
Pharaonic Petroleum Announces 174 bcf of Gas Production in FY 2017/18
Pharaonic Petroleum Company produced 174 billion cubic feet (bcf) of natural gas and 2.2 million barrels of condensates during fiscal year (FY) 2017/18.
GUPCO Crude Production Hits 71,000 b/d in FY 2017/18
The Gulf of Suez Petroleum Company's (GUPCO) produced an average of 71,000 barrels per day (b/d) of crude oil and condensates in fiscal year (FY) 2017/18 from its field in the Gulf of Suez.
Egypt to Pay Union Fenosa $2B in Gas Dispute
Egypt will pay $2 billion to Union Fenosa Gas Company as a settlement for halting gas supplies to the company’s Damietta LNG plant in 2012.
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
