News / Egypt
Central Bank of Egypt Loans EGP 31b to National Banks
The Central Bank of Egypt (CBE) has provided a EGP 31b interest-free loan over 10 years to three major banks, including the National Bank of Egypt (NBE) getting EGP 5b, Banque Misr with EGP 16b, and Banque du Caire with EGP 10b.
Minister of Petroleum Issues New Promotions
Minister of Petroleum and Mineral Resources Tarek El-Molla issued promotions and transfers in the petroleum sector
El Molla to Talk Gas Imports with Cyprus
Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, is scheduled to visit Cyprus late August, in order to sign an agreement with the Energy Minister, Yiorgos Lakkotrypis, to enable importation of gas from Cyprus.
El Molla Reviews Fiscal Results of Gas Firms
During the fiscal year 2015/2016, Pharaonic Petroleum Company produced 400mcf/d gas and 460 bpd condensates and it plans to add reserves estimated between 200bcf to 500bcf of gas, in addition to adding new wells Haby-16 and Taurt-8.
Egypt, Denmark Cooperate on Wind Energy
The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, met with the Danish Minister of Energy, Utilities and Climate, Lars Lilleholt, and Danish Vestas CEO, Anders Runevad, to discuss Egyptian-Danish cooperation in new and renewable energy field.
Eni Boosts Nooros Gas Production
Italian Eni aims to increase gas production from 3 wells in Nooros field by 180mcf/d in September 2016. A source from EGAS said that the $450m production enhancements of Nooros field will push gas outputs to 700mcf/d by the end of 2016. Current production rates stand at over 350mcf/d in addition to 3,000b/d of condensates.
Egypt, China Collaborate on PV Facility
The Egyptian Minister of Military Production, Mohamed Saeed Al Asaar, witnessed the signing of Memorandum of Understanding (MoU), between the ministry, China Electronics Technology Group Corporation (CETC), and Al Fath Group to construct a solar panel factory.
BP Boosts Gas Production in Egypt
UK's British Petroleum (BP) aims to boost their gas production in Egypt through enhancements of their concessions in the country in Taurt, Northern Alexandria, West Mediterranean, and Ras Al Bar gas fields.
