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.
News / Egypt
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Petrojet Maintains 2.5M Safe Working Hours in Sonker Terminal
Petrojet has completed 2.5 million work hours at the Sonker Terminal in Ain Sokhna without any accidents
Egyptian Crude Reserves at 2.4B Barrels
Egypt possesses 2.4 billion barrels of oil and condensate reserves as of October 2017.
GECF Appoints El Molla as Alternate President
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.
Cheiron to Partner in the Development of Mexican Oil Field
Egypt's Cheiron Holding Company won the right to partner with PEMEX, a Mexican company, to develop the Cardenas-Mora project in Mexico.
SDX Makes New Discovery in West Gharib Concession
SDX Energy Company has made a new oil discovery in the West Gharib Concession.
Nasr: World Bank Financing of Energy Sector Hits $4B
The World Bank has provided the Egyptian energy sector with $4 billion in funding.
MIDOR to Receive $1.2B from Banking Consortium
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.
Egypt to Sign Final Deal For Russian Industrial Zone by End 2017
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.
