News / Egypt
Foreign Firms Invested $6.6b in Egypt’s Oil Sector
Foreign investments in Egypt's oil and gas sector during fiscal year 2015/2016 reached $6.6b.
El Sisi, Putin Talked Bilateral Cooperation
Egyptian President, Abd EL Fatah El Sisi, meets Russian President, Vladimir Putin and discusses bilateral cooperation and energy
Egypt Approved International Arbitration for FiT Deals
The Egyptian Minister of Electricity stated the ministry's approval on international arbitration in case the investors refused Egyptian arbitration tribunal.
El Molla Urged Oil, Gas Firms to Boost Productivity
El Molla emphasized the importance of improving oil and gas companies in order to increase their productivity to cover local demand of petroleum derivatives specially butane, diesel and benzine.
Eni, BP Drilled 2nd Well in South Baltim
Eni and BP finished drilling the second well in South Baltim to produce 350mcf/d of gas.
Misr Iran Bank to Fund Energy Authorities
Egypt's Misr Iran Bank will fund EGP 200m to two government authorities, the Ministry of Electricity and Renewable Energy and the Ministry of Petroleum and Mineral Resources, with each getting EGP 100m in funding.
Egypt to Become Regional Energy Hub
A source from the Egyptian Ministry of Petroleum and Mineral Resources stated that the county aims to increase imports of liquefied natural gas (LNG) and local gas production in a push to turn Egypt into a global energy market by leverage the country's gas process and distribution infrastructure.
Egypt Nullified 6 MoUs for Coal-Fired Power
A source from the Egyptian Ministry of Electricity and Renewable Energy stated that the ministry might consider nullifying memorandums of understanding (MoU) for 6 coal-fired electricity plants. He added that the ministry will issue new tenders for the projects, to guarantee that the Egyptian government obtains the best financial offerings.
