Petroleum Production Grows by 3% YOY
Egypt increased its production of crude oil, condensates, and butane by around 3% year-on-year in May 2018, producing 2.9 million tons compared to 2.8 million tons in May 2017.
News / Egypt
Natural Gas Production Increases by 15.7% YOY
Egypt's natural gas output increased by around 15.7% year-on-year (YOY), producing 3.9 million tons in May 2018, compared to 3.4 million tons in May 2017.
El Molla Discusses Oil, Gas Cooperation with British Trade Representative
Minister of Petroleum Tarek El Molla met with UK trade representative Sir Jeffrey Donaldson and British Ambassador John Casson to discuss ways of boosting cooperation in the oil and gas sector.
Ministry of Petroleum to Offer New Exploration Tenders
Minister of Petroleum Tarek El Molla announced on July 31 that the ministry is planning to increase investment opportunities for oil and gas exploration by offering new tenders for the Red Sea and West Mediterranean areas.
EGPC, BP Sign $46M Gulf of Suez E&P Deal
The Egyptian General Petroleum Corporation (EGPC) and BP have signed a $46 million oil and gas exploration and production (E&P) deal for the Eastern Ramadan area in the Gulf of Suez.
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Sisi: Egypt to Achieve Natural Gas Self-Sufficiency by 2020
President Abdel Fattah El-Sisi affirmed on July 29 that Egypt would achieve natural gas self-sufficiency and a surplus by June 30, 2020.
Egypt Close to Settling Foreign Petroleum Debts
Egypt is edging closer to repaying its debts to foreign petroleum companies after paying $1.2 billion to International Oil Companies (IOCs) operating in Egypt with plans to repay the remaining $1.2 billion owed before the end of 2019.
Energy Recovery Awarded $3.3 million for Egypt Desalination Project
Energy Recovery Inc. announced a $3.3 million order to supply its PX Pressure Exchanger for a water desalination project in Egypt, expected to ship in Q4 2018.
Egypt’s Budget Deficit Falls to 9.8% in FY 2017/18
The Egyptian budget deficit for fiscal year (FY) 2017/18 was 9.8% of gross domestic product (GDP), a decrease from 10.9% the previous year, achieving a primary fiscal surplus for the first time in 15 years, deputy finance minister Ahmed Kouchouk stated on July 26.
