Members of parliament requested on June 22 to send a letter to Prime Minister Mostafa Madbouly and Minister of Petroleum Tarek El Molla asking them to explain the reasons behind the latest increase in natural gas prices.
Egypt will raise natural gas prices for households and businesses by up to 75% from the beginning of August.
Misr Petroleum and Petronas have signed a memorandum of understanding (MoU) to produce 20,000 tons of first class oils and 10,000 tons of diesel annually.
The Egyptian General Petroleum Corporation (EGPC) signed a $9 million agreement with Apache on July 18 to drill seven oil wells in the East Bahariya concession in the Western Desert with a signature grant of $30 million.
Belayim Petroleum Company (Petrobel) and Eni will bring their South Balteem well online by mid-2019, helping the companies to achieve their target of pumping an extra 0.5 billion cubic feet per day of natural gas.
The 15th well of the Nooros gas field has started production.
The International Monetary Fund (IMF) has said that the recently-approved automatic fuel price mechanism will protect Egypt's budget from movements in the global oil markets.
Oil minister Tarek El Molla discussed launching an electronic portal for auction areas offered in Egypt with Baker Hughes GE President for digital solutions, Matthias Heilmann.
The Egyptian General Petroleum Corporation (EGPC) has hired HSBC to arrange a loan of around $1 billion.
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
