Banking Alliance to Provide EGP 2.3B for GPC Exploration
General Petroleum Company (GPC) signed an agreement with six banks for an EGP 2.3 billion loan to finance oil and gas exploration.
General Petroleum Company (GPC) signed an agreement with six banks for an EGP 2.3 billion loan to finance oil and gas exploration.
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Petrojet has completed 2.5 million work hours at the Sonker Terminal in Ain Sokhna without any accidents
Egypt possesses 2.4 billion barrels of oil and condensate reserves as of October 2017.
The Ministerial Council of the Gas Exporting Countries Forum (GECF) appointed the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, as Alternate President of the Ministerial Meeting in 2018.
Egypt's Cheiron Holding Company won the right to partner with PEMEX, a Mexican company, to develop the Cardenas-Mora project in Mexico.
SDX Energy Company has made a new oil discovery in the West Gharib Concession.
The World Bank has provided the Egyptian energy sector with $4 billion in funding.
The Middle East Oil Refinery (MIDOR) will receive a $1.2 billion loan from Crédit Agricole, BNP Paribas, and Italian bank Cassa Depositi e Prestiti to finance the second phase of the expansion plans carried at its refineries.
The industrial zone agreement, signed between Cairo and Moscow in February 2016, was designed to offer favorable treatment and benefit Russian resident companies, such as carmakers, petrochemical enterprises, energy, and medical companies.