News / Egypt
Eni Invests $4b in Zohr Gas Processing Plant
Italian Oil Company Eni invested an amount worth $3.5b to $4b in implementing the Zohr natural gas production processing plant at a capacity of 2.7bcf/d of gas.
Egypt’s El Beheira Governorate Mulls Solar Projects
The Egyptian governorate of El Beheira has received offers to construct solar energy power plants in Wadi El Natrun and Rasheed worth EGP 1.7b, with capacities ranging from 20 MW to 50 MW, over the course of two years.
Egypt’s Fuel Subsidies Fell 23%
Egypt's spending on petroleum subsidies fell by 23% in 2015/16 to EGP 55b ($6.27b) from a targeted EGP 61b, Head of the Egyptian General Petroleum Corporation (EGPC),Tarek al-Hadidi said, citing a decline in global oil prices as the main drive to absorb the cuts.
Siemens to Install Steam Generator in Gas-Fired Power Plants
The first heat recovery steam generator (HRSG) modules from Korea is to be installed in Siemens' gas-fired power generation complexes in Beni Suef plant in Egypt by mid-September.
Rosneft Receives Payment for First LNG Cargo to Egypt
Russian state-owned oil company Rosneft has received $15.6m for its first ever supply of liquefied natural gas (LNG) to Egypt under the contract with Egyptian Natural Gas.
EBRD Offered to Fund SUMED Project
The European Bank for Reconstruction and Development (EBRD) has offered to fund the Arab Petroleum Pipelines Co. (SUMED) with $100m, based on a 10-year time-frame, to build a pier and petroleum products trading center in Ain Sokhna.
Developers to Withdraw from Egypt’s FiT Program
Up to 35 solar energy firms are considering withdrawing from the first phase of Egypt’s Feed-in Tariff (FiT) program due to delays, currency risks, and government's insistence on domestic arbitration, as developers announced after meeting with the Minister of Electricity and Renewable Energy, Mohamed Shaker,
Oil Ministry Eyes Increase in Oil Output
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the ministry will request foreign oil and gas investors to increase the number of oil wells in the Nile Delta concessions, with an aim of boosting the output to the level of about 1bcf/d.
