Mubadala Petroleum Buys 10% Shorouk Stake for $1B
Eni has sold a 10% stake in Egypt's Shorouk offshore concession to Mubadala Petroleum for more than $1 billion.
News / Egypt
El Molla Appoints New SSCO Head
Minister of Petroleum Tarek El Molla has appointed Akram Mohamed Ibrahim Badawy as the head of Sinai Petroleum and Mining Services Company (SSCO).
Ministry of Petroleum Gives Updates on Modernization Program
The modernization program team has finished the first stage of the resources and assets management system for both the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS).
Fuel Prices Hiked for Third Time Since 2016
The government announced new fuel price increases on June 16, the third time prices have risen since the country floated the Egyptian pound in November 2016.
El-Molla Remains as Petroleum Minister
Tarek El Molla was sworn in on Thursday 14 June by President Abdel Fattah El Sisi as the Minister of Petroleum and Mineral Resources.
Sidpec Signs Propylene Factory Contract
Sidi Kerir Petrochemicals Company (Sidpec) and UOP International signed a contract for establishing the new propylene factory at Sidpec.
Third Zohr Gas Processing Unit Begins Operations
The third gas processing unit at Zohr natural gas field began operations on June 14, 10 days ahead of schedule.
Subsea 7 Awarded Offshore Engineering Contract in West Delta
Burullus Gas Company has awarded Subsea 7 an engineering, procurement, installation and commissioning contract for the West Delta Deep Marine Phase 9B development project.
El Molla Announces Plans to Cover Eid Fuel Demand
Butane refilling factories owned by the Petroleum Gas Company (Petrogas) will be operating at full capacity during the Eid break following the request of petroleum minister Tarek El Molla.
Egyptian Government to Hike Electricity Prices by 26%
Electricity prices will increase by an average of 26% on July 1 as subsidy cuts included in the 2018/19 fiscal budget are introduced.
