News / Egypt
Eni Plans to Sell 20% of Zohr Field
Italy's Eni plans to sell at least a 20% stake in Zohr field in Egypt to different oil companies including Russian Lukoil, US ExxonMobil, French Total, and UK's British Petroleum in order to raise around $5.5b from asset disposal within two years.
EGAS to Amend High Household Gas Invoices
EGAS will revise and amend gas bills for angry homeowners.
Sisi Launches $1.9b Petrochemical Complex
Egyptian President Abdel Fattah El Sisi launched the petrochemicals complex of Egyptian Ethylene and Derivatives Company (Ethydco) in Alexandria in mid August with a total investment of $1.9b.
Egypt Pays Off Dues for Imported Oil, Gas
The Egyptian Ministry of Petroleum and Mineral Resources announced that Egypt had paid all its due bills for the purchase of imported crude oil and natural gas from foreign companies for the fiscal year 2015-2016.
EGAS Pumps High Volume of Gas for Vehicles
The Egyptian Natural Gas Holding Co (EGAS) pumps a considerable volume of gas to service stations as motor vehicles consume 102bcf of natural gas each month, averaging 47mcf/d.
IMF Agrees to $12b Loan to Egypt
The International Monetary Fund (IMF) has agreed to lend $12b to Egypt to be paid out over three years, yet the agreement is subject to approval by IMF’s Executive Board in few weeks, according to IMF's website.
Egypt Mulls $3b-$5b Eurobonds in 2016
Egypt requested proposals to issue $3b to $5b bonds in the current fiscal year as part of the government's efforts to shore up reserves and end a foreign-currency shortage that is hampering economic growth.
Egypt Gas Company Marks Loses
Egypt Gas Company's losses in the second quarter of 2016 reached EGP 61.9m ($6.96m), in comparison to EGP 31.3m ($3.5m) during the same period from 2015.
