Fitch Ratings, one of the three biggest credit rating agencies in the world, has maintained its sovereign rating on Egypt at a ‘B’ with a Stable Outlook.
Egyptian and Mauritanian oil ministers discussed the areas of possible cooperation between the two countries and ways of enhancing and activating the protocol of bilateral cooperation in the oil and mining sectors.
The Egyptian General Petroleum Corporation (EGPC) has announced that it will increase the levels of petroleum products distributed in the domestic market in the Holy Month of Ramadan.
A government official told Egypt Oil&Gas that the strategic LPG reserves in Egypt increased to reach the level of sufficiency for 25 days, instead of 17 days.
After a meeting between the Minister of Petroleum and Mineral Resources, Tarek El Molla, and a delegation of China Development Bank (CDB), the bank expressed its readiness to finance petroleum Projects in Egypt.
Onera Systems, the Egyptian leading companies in the solar energy sector in the Middle East region, has finalized the establishment of three solar power stations in the Abu Korkas and South Delta areas in Egypt.
Italian energy company TerniaEnergia has secured an order worth approximately $9.2m for the construction of an industrial-scale solar power plant in Egypt with a total capacity of 47MW. The solar park will be constructed in the Benban area of Aswan.
The Kuwait Petroleum Corporation has signed an agreement with Egypt’s Suez Canal Authority to boost the bilateral cooperation between the two countries and increase the number of Kuwaiti tankers to increase the Kuwaiti oil exports to Europe.