Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
News / Egypt
Egypt’s Natural Gas Output Reaches 6.6 bcf/d
Egypt has boosted its natural gas output to record 6.6 billion cubic feet per day (bcf/d) upon the news that Eni had succeeded in boosting Zohr's production to 2 bcf/d.
AMOC Posts EGP 1.48B Profit in 2017/18
Alexandria Mineral Oils Company (AMOC) posted profits of EGP 1.48 billion in fiscal year (FY) 2017/18, a 35% increase from the EGP 1.1 billion profit posted in FY 2016/17.
Egypt, ITFC Sign $2B Petroleum Finance Deal
The International Islamic Trade Finance Corporation (ITFC) has agreed to finance $2 billion worth of petroleum products, as a part of a larger $3 billion agreement with Egypt's Ministry of Investment to fund the import of a number of basic goods.
Abu Qir Achieves 263 mmscf/d Gas Output in 2017/18
Abu Qir Petroleum produced an average 263 million standard cubic feet per day (mmscf/d) of natural gas during fiscal year (FY) 2017/18, a 45% increase from FY 2016/17.
Zohr Production Reaches 2 bcf/d
Natural gas output from Zohr has reached 2 billion cubic feet per day (bcf/d) within the first nine months of production.
EOG Technical Committee Welcomes New Members
Egypt Oil & Gas (EOG) Technical Committee has welcomed five new members to its board.
EOG Technical Committee Discusses Upstream Operational Excellence Convention
The 2nd Upstream Operational Excellence Convention will happen in December under the High Patronage of His Excellence Eng. Tarek El Molla, Egypt's minister of petroleum.
Ahmed Kenawi One of Forbes Most Influential Expats in UAE
Egypt's Ahmed Kenawi, senior vice president of Middle East and North Africa at Halliburton, was listed among the Forbes 50 most influential expats in the United Arab of Emirates (UAE).
Petroleum Production Drops by 2.56% YOY
Production of crude oil, condensates, and butane fell by 2.56% year-on-year (YOY) in June 2018, producing 2.63 million tons compared to 2.69 million tons in June 2017.
