Egypt Declares Support For OPEC Deal
Egyptian oil minister Tarek El Molla has emphasized support for measures taken by Organization of Petroleum Exporting Countries (OPEC) to stabilize the oil market.
News / Egypt
Eni to Invest Additional $3B in Egypt
ENi CEO Claudio Descalzi said that the company is investing a further $3 billion into the sector on top of the $8.4 billion it is already investing.
El Sisi Meets Eni CEO
President Abdel Fattah El Sisi met Eni CEO Claudio Descalzi today to follow up on the Italian company’s projects in Egypt.
SDX Makes Gas Discovery in Egypt’s South Disouq Concession
SDX Energy has reported a new gas discovery made at its SD-4X well in the South Disouq concession in Egypt.
El Molla: “This Is Not The Last Fuel Price Hike”
Fuel prices will witness another increase in 2019, Egyptian oil minister Tarek El Molla announced on June 20, only four days after the latest fuel price hike.
Suez Oil Processing Company to Receive $200M Loan
Egypt signed a $200 million loan from the European Bank for Reconstruction and Development (EBRD) to state-owned Suez Oil Processing Company (SOPC) on June 21.
Mubadala Petroleum Buys 10% Shorouk Stake for $1B
Eni has sold a 10% stake in Egypt's Shorouk offshore concession to Mubadala Petroleum for more than $1 billion.
El Molla Appoints New SSCO Head
Minister of Petroleum Tarek El Molla has appointed Akram Mohamed Ibrahim Badawy as the head of Sinai Petroleum and Mining Services Company (SSCO).
Ministry of Petroleum Gives Updates on Modernization Program
The modernization program team has finished the first stage of the resources and assets management system for both the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS).
Fuel Prices Hiked for Third Time Since 2016
The government announced new fuel price increases on June 16, the third time prices have risen since the country floated the Egyptian pound in November 2016.
