News / Egypt
Egypt Pushed Mediterranean Bid Round to End of FY
Egypt will offer an international tender for new oil and gas exploration blocks in the Mediterranean and Nile Delta, according to EGAS head Khaled Abdel Badie.
Abdul Ghani: 50,000 New Subscribers Officially Registered
Khaled Abdul Ghani, the project director for the fuel subsidy cards at e-Finance told Egypt Oil & Gas that 50,000 new subscribers were registered prior to the actual application of fuel stations in the governorates, scheduled for May, in line with the government plan to insure that subsidized fuel reaches those eligible, the low-income groups.
Local Stability of Dollar Saves Egypt 250m a Month
The stability of the local exchange rate for the US Dollar, will save the Egyptian government an estimated EGP 250m per month; a positive reduction that coincides with the low current Brent price of $28.94 (on Sunday 17/1).
EGPC Boosts LPG Cylinders Supply to 1.23m/d
EGPC raised its LPG cylinders supply to local market to 1.23m cylinders a day, compared to the 1.1m during the summer months
Egypt Air’s Debt to EGPC Escalates to EGP 7b
Egypt Air’s dues to EGPC have expanded to reach EGP 7b, rising from EGP 5.5b in under six months.
EU Eyes Gas Import from East Mediterranean Fields
The European Union could import gas from newly discovered deposits in the Eastern Mediterranean in an attempt to diversify its supplies and bolster Europe's energy security, said EU Energy Commissioner, Maros Sefcovic.
$25m Power Plant to Be Built in Egypt’s 6 October City
Sheikh Zayed City Development Authority is in the process of launching a 500 MW power plant, with investments worth EGP 200m ($25.5m). The plant will be built on a 15,000 square meters over a period of 2 years. Oil Prices Push Down Egypt’s Fuel Subsidy Bill
Egypt's budget for fuel subsidies has decreased by EGP 5b, reaching EGP 56b, in comparison to initial estimates of EGP 61b. The statement was made by Egyptian Petroleum minister, Tarek El Molla, during a luncheon at the American Chamber of Commerce.
