Egypt Signs $200M Agreement with EBRD
The Minister of Investments and International Cooperation, Sahar Nasr, signed an investment agreement worth $200 million with the European Bank for Reconstruction and Development (EBRD).
News / Egypt
Petroleum Imports Dip by 37.2% Y.o.Y.
Year-on-year oil imports decreased in value by 37.2% in September, falling from $452 million in September 2016 to $284 million in September 2017.
EGAS to Launch LNG Tender in January
Egyptian Natural Gas Holding Company (EGAS) will offer a tender in January for the importation of liquefied natural gas (LNG) during the second quarter of 2018.
Electricity Production, Consumption Increase
Egypt generated 17.1 kWh of electricity in September, a 2.4% year-on-year (Y.o.Y.) increase from the 16.7 kWh generated in September 2016.
Natural Gas Consumption, Production Increase Y.o.Y.
Natural gas production in October increased 14.7% year-on-year (Y.o.Y.), rising to 3.27 million tons in October 2017 from 2.85 million tons in October 2016.
Butane Consumption Falls 5.4% Y.o.Y.
Year-on-year (Y.o.Y.) butane consumption fell 5.4% in October, decreasing from 360,600 tons in October 2016 to 341,200 tons in October 2017.
Diesel Production, Consumption Down from 2016
Consumption of diesel fell 9.07% to 1.203 million tons in October from 1.323 million tons in October 2016.
El Molla Calls for Emphasis on Production
Egypt’s oil and gas sector needs to focus on production, not services, the Minister of Petroleum and Mineral Resources, Tarek El Molla, said.
Output of Petroleum Products Falls by 6.44% Y.o.Y.
Egypt's output of petroleum products fell 1.26% to 2.818 million tons in October from 2.854 million tons in October 2016.
EFG Hermes Considering Renewable Energy
The investment bank, EFG Hermes, is considering management investments in renewable-energy projects in Egypt.
