Egypt to Receive $1.5B Investment Loan
The African Export-Import Bank (Afreximbank) will provide a $1.5 billion loan to Egypt to fund investments including oil and petrochemical projects.
News / Egypt
Egypt Has Fourth Largest Ultra-Deepwater Gas Reserves
Egypt has the world’s fourth largest ultra-deepwater natural gas reserves with 18,852 billion cubic feet (bcf).
Sidpec Propylene, Polypropylene Factories to Start Production in 2022
The new propylene and polypropylene factories owned by Sidi Kerir Petrochemicals Company (Sidpec) will start production by 2022.
Winner of Hamrawein Power Plant Tender To Be Announced June 13
The Ministry of Electricity will announce on June 13 the winning consortium to build the 6,000-megawatt coal-fired power plant in the Red Sea port of Hamrawein.
Petroleum Ministry to Connect 684,000 Households to Gas Grid
Minister of Petroleum Tarek El Molla and the president of Egyptian Natural Gas Holding (EGAS) are considering linking 684 clients across 18 governorates to the national gas grid.
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
TAQA Arabia and Castrol Establish New Joint Venture
Qalaa Holdings has announced the establishment of a new joint venture between its subsidiary TAQA Arabia and BP subsidiary Castrol with EGP 20 million capital.
Apache to Drill East Bahariya Wells in 2018
Apache will start drilling new oil wells in the East Bahariya concession in the Western Desert during Q3 2018.
Egypt Allocates EGP 25B to Develop Electricity Grid
Egypt has allocated EGP 25 billion to be spent on developing the national electricity grid over the next two years.
Pharaonic Petroleum Produces 600 mscf/d of Natural Gas
Pharaonic Petroleum's natural gas production has reached 600 million standard cubic feet per day (mscf/d).
