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
IMF Approves $2 Billion Loan Installment
The International Monetary Fund (IMF) approved a $2 billion installment of the second tranche of its $12 billion loan to Egypt.
Schlumberger, TGS Announce Survey in Red Sea
Schlumberger and TGS-NOPEC Geophysical Company (TGS) announced a new project to conduct a 2D seismic survey in the Red Sea.
TransGlobe Increases Output by 27%
TransGlobe Energy Corporation announced that its production had increased by 27% in 2017.
Eni: Zohr Production Began in “Record Time”
Production from the Zohr natural gas field started "in a record time for this type of field of less than two and a half years."
Shaker: Nuclear Power to Save Egypt $7 per Million Thermal Units
The planned El Dabaa Nuclear Power Plant could save Egypt approximately $7 per one million thermal units, the Minister of Electricity and Renewable Energy, Mohamed Shaker, stated.
Gas-Market Regulations to be Issued in February
The government will publish its executive regulations for the new gas-market law in February.
El Molla: Women Central to Modernization Program
Women make up 40% of the workforce in the government’s modernization program in the oil and gas sector.
EGPC to Acquire Maersk’s Stake in EDC
The Egyptian General Petroleum Corporation (EGPC) will purchase Maersk Drilling Company's 50% stake in the Egyptian Drilling Company (EDC) for $100 million.
Egypt to Produce 42% of its Electricity from Renewables by 2025
Egypt will produce 42% of its electricity from renewable resources by 2025, the Minister of Electricity and Mineral Resources, Mohamed Shaker.
