Egyptian Oil Firms Seeking to Double EGP 10 B Loan
Egypt’s Co-Operation Petroleum Company (COOP) and Misr Petroleum Company sent a letter to an Egyptian banking consortium asking to double an EGP 10 billion loan, which was granted late 2014.
News / Egypt
Egypt’s Consumption of Gasoline and Diesel Declines
Egypt’s consumption of gasoline and diesel fell 4.2% and 7.1% respectively in the first quarter of fiscal year 2017/2018.
Egypt Pays $30B to Foreign Bodies in 2017
Egypt paid $30 billion to foreign bodies in 2017, and is committed to pay over $12 billion in debts and commitments in 2018.
Siemens to Add 262 MW to Ras Ghareb’s Wind Farm
Siemens Gamesa Renewable Energy announced a 262 MW order for Ras Ghareb wind farm, located in Egypt’s Gulf of Suez.
El Molla Issues New Promotions
The Egyptian Minister of Petroleum and Mineral Resources, Tare El Molla, issued new promotions and transfers.
Qalaa Holdings Announces 38% Revenue Growth in Q3 2017
Qalaa Holding announced 38% year-over-year (Y.o.Y) growth in revenue during the third quarter of 2017, reaching EGP 2.47 billion, and a 182% Y.o.Y increase in earnings before interest, taxes, depreciation, and amortization (EBEDITA) to reach EGP 253.6 million.
Egypt to Establish Largest Wind Farm in MENA
Egyptian Ministry of Electricity and Renewable Energy initiated a project worth EGP 5 billion to establish the hugest wind farm in the Middle East, as part of the country’s plans to increase renewable energy usage in Egypt.
Misr Petroleum Company Increases Storage Capacity to 128,000 Liters
Misr Petroleum Company increased the storage capacity of the different benzene types along with diesel to reach 128,000 liters, upon operation start of Suhag station.
Number of Households Linked to Gas Grid Hits 8.3M
Egyptian Ministry of Petroleum and Mineral Resources increased the number of households connected to national gas grid to around 8.3 million households across the country.
Egypt Implements 6,000 Tons Butane Storage Project in Suhag
Egypt is implementing a butane storage project in Suhag with storage capacity 6,000 tons of butane, which is equivalent to 600,000 butane cylinders.
