Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
News / Egypt
Acumen Holding Files Lawsuit over Valuation of Egypt Gas
Acumen Holding Company has sued the Egyptian Stock Exchange, the Egyptian Financial Supervisory Authority (EFSA), and Osool for Financial Consulting over an allegedly inaccurate valuation study of Egypt Gas Company.
It’s Official: Zohr Begins Production
Egyptian Minister of Petroleum, Tarek El Molla, announced the start of pumping natural gas from offshore wells in Zohr field to the onshore processing facility to be treated and injected into the country's natural gas national grid.
Govt to Partner with TBEA to Construct Solar Plant
The Ministry of Military Production and TBEA Sun Oasis plan to build a solar photovoltaic plant with a generation capacity of 1,000 megawatts (MW) per year
Egypt to Decrease Monthly LNG Imports by 3 Cargoes
Egypt will decrease its imports of liquefied natural gas (LNG) by three cargoes a month when the Zohr natural gas field comes online.
El Molla: Zohr Critical to Egypt’s Bid for Self-Sufficiency
Production from the Zohr natural gas field—which could begin within days—should permit Egypt to achieve natural gas self-sufficiency in 2018.
Egypt, Libya Discuss Electricity Grid Interconnectivity
Egyptian and Libyan officials met to discuss connecting their' electricity grids and other ways to enhance cooperation in the energy sector.
World Bank to Stop Funding Upstream Oil & Gas Projects
The World Bank will no longer finance upstream oil and gas projects after 2019.
EGPC Sells 550K Butane Cylinders in Two Weeks
The Egyptian General Petroleum Corporation (EGPC) sold 550,000 butane cylinders during the past two weeks as the temperature fell and butane consumption increased.
Dabaa Commercial Operations to Start by 2026
The proposed El Dabaa nuclear plant will begin commercial operations by 2026.
