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
Apache to Increase Investment in Egyptian Oil Exploration to $1B
Apache has announced its plans to increase its annual investment in Egyptian oil exploration projects to $1 billion.
Cyprus to Ship Gas to Egypt in 2022
Cyprus is hoping to ship gas from its 4.5 trillion cubic feet Aphrodite offshore gas field to Egypt by 2022, Cyprus energy minister Giorgos Lakkotrypis has said.
El Molla: Petroleum Sector Attracted $10B FDI in 2017/18
Foreign direct investment (FDI) in Egypt’s oil and gas sector reached $10 billion in fiscal year (FY) 2017/18, Minister of Petroleum Tarek El Molla told Al Ahram newspaper in an interview published on August 24.
Egypt Expects $10B Petroleum Sector FDI in FY 2018/19
Egypt expects foreign investors to pump $10 billion in foreign direct investment (FDI) into the country's petroleum sector in FY 2018/19.
Khalda Hits FY 2017/18 Production Targets
Khalda Petroleum Company achieved 110% of its oil production plan and 99% of gas production plan during FY 2017/18.
Dana Gas Delays New Investments in Egypt
Dana Gas will delay making new investments in Egypt's oil and gas sector due to unpaid arrears.
Oil Ministry Signs Three Exploration Agreements Worth $139.2M
Oil minister Tarek El Molla has signed three new exploration contracts to drill 15 wells in the Mediterranean and the Western Desert with an investment budget of $139.2 million and a $55 million signing grant.
ANRPC to Start Pilot Operation of Refining project
Alexandria National Refining and Petrochemicals Company (ANRPC) is starting the pilot operation of its refining project and will start production next month.
Government Chooses Provider of Fuel Hedging Contract
The oil and finance ministries have chosen a firm to sign fuel hedging contracts with the government.
