News / Egypt
El Molla: Egypt’s Fuel Subsidy to Exceed EGP 110b
Fuel subsidy increased well above EGP 110b, from an estimated EGP 35b in the budget.
El Molla Met Belarus’ Minister of Natural Resources
El Molla and his counterpart discussed means of promoting investment cooperation in the fields of petroleum, natural gas and mineral resources.
Three Firms to Bid on ENPPI’s Shares
CI Capital, Beltone Financial and Arqaam Capital will compete for ENPPI’s IPO.
Egypt Strengthens Gas Production
BNP PARIBAS stated in a study that Egypt is a world-class hydrocarbon area with active drilling in four basins.
Egypt to Stop Energy Allocations in 5 Years
Egypt lift fuel subsidies over 5 years to reach zero allocations in the Egyptian budget. The allocations will be used for other fields, such as education and health.
Egypt Increases Smart Card Program Participation
E-Finance's Smart Cards Manager, Khaled Abdel Ghany, stated that 12,000 Egyptian citizens recently applied for fuel smart cards.
Egypt to Pay $2b Compensation to Israel
Swiss court ruled that Egypt should pay a $2b compensation to Ampal-American Israel Corporation for the damage caused by the cessation of natural gas exports from Egypt to Israel in 2012.
Egypt to Receive Oil Shipment from Iraq
Iraq started loading a tanker with 2mb of crude oil bound for Egypt, marking the first shipment under a bilateral agreement.
