Egypt Sets $20B E&P FDI Target over Three Years
The Egyptian Ministry of Petroleum and Mineral Resources plans to attract $20 billion in foreign direct investment (FDI) for exploration and production (E&P) over the next three years.
News / Egypt
El Molla Discusses Investments with ExxonMobil
Egyptian Petroleum Minister, Tarek El Molla, met with Bryan Mitlon, President of ExxonMobil Fuels and Lubicants Company, and Hesham El Amrosy, Chairman and Managing Director of ExxonMobil Egypt, to discuss investments in the Egyptian oil and gas sector.
Petroleum Ministry Eyes Chinese Investment Opportunities
Egypt has promising investment opportunities with China in the fields of energy, oil and natural gas, stated Ashraf Farag, deputy minister of petroleum for agreements and exploration.
ACWA Power to Establish $2.3 B Gas-Fired Combined Cycle Plant
ACWA Power Company, in cooperation with Hassan Allam Group, will establish a $2.3 billion gas-fired combined cycle electricity generating plant with a 2300 MW production capacity.
Egypt-Israel Gas Deal: Pipeline Capacity Issue Casts Shadow over Gas Export Agreement
Israel's domestic pipeline infrastructure reportedly does not have the capacity to transfer the contracted quantities of natural gas from the Tamar and Leviathan fields to Egypt.
Petroleum Ministry to Settle IOC Arrears by 2019 End
The Egyptian Ministry of Petroleum plans to settle total arrears for international oil companies (IOCs), which have reached $1.2 billion, by the end of 2019.
Electricity Output Drops by 1.97% YOY in July 2018
Egyptian electricity production dropped by 1.97% year-on-year (YOY) in July 2018, generating 19.9 megawatts per hour (MWh) compared to 20.3 MWh in July 2017.
El Sisi: Egypt Consumes $42 B Worth Petroleum Products/Year
Egyptians consume around $42 billion worth petroleum products each year, said President Abdel Fattah El Sisi during the 'Rebuilding Societies and States in the Context of Post-Conflict' discussion at the World Youth Forum in Egypt.
Diesel Consumption Drops by 17.89% YOY
Egypt’s diesel consumption dropped by 17.89% year-on-year (YOY) to reach 1.014 million tons in August 2018, down from 1.235 million tons in August 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.
