Israeli companies are continuing to pursue energy trade deals with Egyptian firms despite the Egyptian government’s order to freeze current energy negotiations.
BP has increased its stake in Egypt’s West Nile Delta gas project to 82.75 %, gaining equity in the North Alexandria and West Mediterranean Deep Water Concessions.
The Egyptian Petrochemicals Holding Company (ECHEM) in the process of setting up a project to convert natural gas to olefins, and polyolefins GTP, reported Egypt Oil & Gas.
Egypt is expecting to see $6b in foreign direct investments for renewable energy projects over the next two years, an official with the Egyptian Ministry of Investment stated.
The General Trade Union for Petroleum Workers (GTUPW), headed by Mohammed Saafan, signed a protocol of cooperation with the Kuwaiti Federation of Petroleum and Petrochemical Workers, headed by Yousif Yacoub Al-Kandari, reported Egypt Oil & Gas.