News / Egypt
NREA to Attract $13.7b Renewables Investments
Egypt's New and Renewable Energy Authority (NREA) aims to attract investments worth $13.7b to establish renewable energy projects with a capacity of 9,520 MW over the next seven years.
Egypt’s EFG Hermes Mulls Renewables Investments Rise
Egypt-based investment bank EFG Hermes is planning to increase the investments it manages in renewable energy from the current $831m to between $1.7 and $2.3b in the next two years.
Assiut Oil Refinery Seeking EGP 750m for Restructuring
Assiut Oil Refinery has addressed banks to obtain a loan worth EGP 750m to finance its restructuring plan and increase production capacity.
Oil Ministry Eyes Foreign Investment Rise by $1b
Egypt's petroleum ministry is eyeing larger foreign investments in drilling and exploration projects to amount to $8.5b by the end of fiscal year 2015-16, up by $1b.
Egypt Reconsiders Lowering Gas Price for Factories
The Egyptian government had announced that it is reconsidering its decision to sell natural gas to the iron factories at $4.5 per 1mBtu instead of the current price of $7 per 1mBtu, in order to reduce the price of steel for consumers
Rosneft Delivers First LNG Cargo to Egypt
Russian oil giant Rosneft announced it had delivered its first liquefied natural gas (LNG) cargo to Egypt.
Dana Gas Records 50% Profit Decline in Q1
Abu Dhabi-listed company Dana Gas, which produces natural gas in Egypt and Iraq, reported a 50% decline in profit in Q1 as sales slumped due to lower hydrocarbon prices and 12% output fall.
El Molla: Adopted Reforms Stimulate Oil&Gas Investments
Egypt is implementing reform measures that stimulate foreign and Arab investments in the Egyptian oil and gas private sector, country's Minister of Petroleum and Mineral Resources, Tarek El Molla said on the sidelines of the Offshore Technology Conference.
