East Mediterranean Gas Company Loses Appeal
The East Mediterranean Gas Company lost its appeal of a 2016 court ruling that held the company fully responsible for the repayment of its $174 million debt to the National Bank
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.
Egypt in Talks with Iraq to Import 24M Barrels of Oil
Egypt is negotiating with Iraq to import 24 million barrels of oil per year during 2018.
LNG Imports to Cease Next Year
Egypt will cease importing liquefied natural gas (LNG) before the end of 2018, the Minister of Petroleum and Mineral Resources, Tarek El Molla, stated.
Cost of Fuel Subsidy Program Rises 68%
The cost of Egypt's fuel subsidies rose 67.86% year on year (Y.o.Y.) for the first quarter of the fiscal year.
Egypt Opens New Butane Warehouses
In preparation of higher butane consumption during the winter months, Egypt has taken steps to bolster its distribution capabilities.
Egypt, Cyprus Explore Opportunities for Cooperation
Egyptian and Cypriot officials met to discuss hydrocarbon cooperation
EGPC, Trident Petroleum Ink $2.4M E&P Deal
The Egyptian General Petroleum Corporation (EGPC) signed a $2.4 million exploration and production (E&P) agreement with Trident Petroleum Company for the drilling of four new wells in Magawish Block in the Gulf of Suez.
PetroTrade Seeks EGP 2.5B Loan
PetroTrade is in talks for an EGP 2.5 billion loan.
Bonatti Group Wins Onshore-Service Contract for Zohr
The Bonatti Group won a contract for electrical and developmental work at the Zohr natural gas field.
