News / Egypt
EGPC Payment Delays are Contractually Legal
Payment delays by the EGPC for crude oil and natural gas imports are legal, according to a source at the EGPC.
Petroleum Ministry to receive $200m of World Bank Loan
The Egyptian Ministry of Petroleum will receive $200m of a recently agreed $1b World Bank loan, according to an EGPC official who spoke to Al Mal News.
Egypt Struggling to Pay for Energy Imports, CBE Governor Denies
Egypt is having difficulty paying for energy imports priced in US dollars – cancelling orders and asking for extensions – as the country’s foreign currency reserves have fallen. CBE Governor Tarek Amer denies the reports.
Drilling Begins at Zohr Field
ENI has begun drilling at Egypt's Mediterranean Zohr field. The company is expected to invest $12b in 20 wells to be completed over 26 months.
18 Promotions and Transfers in the Petroleum Sector
The Minister of Petroleum and Mineral Resources, Tarek El Molla, approved a list of transfers and promotions for the heads of state companies in the petroleum sector.
China Railway Submits Bid to Build $2.2b Power Plant in Egypt
The China Railway Company has submitted a bid to build a $2.2b energy plant in Egypt that will operate on a combined-cycle system with a capacity of 2,000MW.
EGPC May Receive Part of WB Loan to Pay Debts
The Egyptian General Petroleum Company (EGPC) may receive a portion of the $3b World Bank loan granted to Egypt, although reports vary.
Egypt to Receive $187.5m from Kuwait for Butane Imports
Kuwait has granted Egypt a $187.5m loan to import butane, a deal that is likely to be fulfilled after years of negotiations.
