News / Egypt
EGAS Resumes Suspended Gas Imports to Fertilizer Plants
The Egyptian Natural Gas Holding Company (EGAS) informed that recently suspended gas imports to be delivered to several fertilizer plants is to be gradually resumed on April 7h.
Egypt’s Arrears to Foreign Oil Companies Rose to $3.2b in March
Egypt's outstanding arrears to foreign oil companies rose to $3.2b at the end of March, up from $3b at the end of December, an official at the Ministry of Petroleum told Reuters.
GUPCO’s Production Rates Exceed 84,000b/d in 2015
Gulf of Suez Petroleum Company (GUPCO) has managed to increase its production rates to more than 84,000b/d in 2015, which amounts to 95,000boe, a company official told Egypt Oil & Gas.
Solarize Egypt Eyes 15MW Solar Power Projects in 2017
Solarize Egypt, operating in solar energy, plans to implement solar power projects with capacities of 15 MW in 2017, compared to its 4 MW plan in 2016, Solarize's Chief Executive Officer, Yaseen Abdel Ghaffar, told Al Mal newspaper.
Egypt’s GPC to Borrow EGP2b for Oil, Gas Exploration
Egypt’s General Petroleum Company (GPC) has addressed some banks operating in the local market to obtain a loan worth EGP 2b to finance oil and gas exploration and drilling operations.
Egypt’s Central Bank Records $27m Increase in Foreign Reserves
The Central Bank of Egypt (CBE) revealed that the foreign exchange reserves increased during March by approximately $27m, registering $16.561b, compared to $16.534b in February.
Cairo, Riyadh Expected to Sign $21.5b Soft Loan Deals
Saudi Arabia is expected to sign a $20b energy soft loan to finance Egypt's petroleum needs for the next five years and a $1.5b loan to fund 12 development projects in its Sinai region.
GE Completes Upgrade of Banha Power Plant
US conglomerate, General Electric Company (GE) announced that it has completed the upgrade of the Banha power plant, located in the Qalyubia Governorate, which will boost efficiency and increase the plant’s output up to 7% by the summer of 2016.
