Petroleum Production Rose by 1.53% YOY in August
Production of crude oil, condensates, and butane increased by around 1.53% year-on-year (YOY) in August 2018, producing 2.852 million tons compared to 2.809 million tons in August 2017.
News / Egypt
Natural Gas Production Increases by 19.59% YOY
Egypt’s natural gas output rose by around 19.59% year-on-year (YOY) to reach 4.023 million tons in August 2018, compared to 3.364 million tons in August 2017.
Eni to Invest $5B in Zohr Gas Processing Plant
Eni has estimated that it will invest $5 billion to construct a gas processing plant for Zohr natural gas field.
Egypt’s Production of Crude Oil and Condensates Increases to 660,000 b/d
Egypt’s crude oil and condensates production increased to 660,000 barrels per day (b/d) in October 2018.
Egypt, IMF Reach Staff-Level Agreement for $2B Loan Disbursement
The International Monetary Fund (IMF) reached a staff-level agreement with the Egyptian government on October 30, paving the way for the release of the fifth loan tranche of $2 billion.
Banque Misr Approves $181.5M Letter of Credit to EGPC
Banque Misr approved granting a letter of credit worth $181.5 million for the Egyptian General Petroleum Corporation (EGPC), an official at the bank stated.
Shawcor Presents the Flexpipe Linepipe to EGPC
Shawcor presented its flexpipe to a team of engineers working in the Egyptian General Petroleum Corporation (EGPC) at the company's headquarters in Cairo on October 29.
Midor Signs $1.2B Loan Agreement
Middle East Oil Refinery (Midor) has signed the final contracts for a $1.2 billion syndicated loan from Italy’s CDP, France's BNP Paribas, and Crédit Agricole.
Finance Ministry to Allocate $80/Barrel of Oil in the 2019/20 Budget: Government Official
The Egyptian Ministry of Finance will calculcate the 2019/20 budget using a benchmark oil price of $80 per barrel.
El Molla Discusses Economic Cooperation with Spanish Ambassador
Egyptian petroleum minister, Tarek El Molla, met the Spanish ambassador to Egypt, Arturo Avello, at the end of his working period in Cairo.
