News / Egypt
Fuel Smart Card System to Launch May 2016
Khaled Abdul Ghani, smart cards project manager at E-Finance told Egypt Oil & Gas that a 100,000 cars have been added to the smart cards of for the distribution of subsidized gasoline and diesel to the citizens of all the provinces.
Ibrahim Mehleb Tours Mining Sites
Ibrahim Mehleb, Vice President for National and Strategic Projects, is on an inspection tour of mining sites around the country.
Electricity Ministry and ECB Developing Renewable Energy Fund
The Ministry of Electricity and the Egyptian Central Bank (ECB) are in consultations over the creation of a renewable energy fund to support the foreign currency requirements of alternative energy projects.
Egypt Receives $600m Loan for New Power Plant
The Egyptian Government received a $600m loan from the European Investment Bank on December 6th, to build a new power plant in the Beheira governorate, which will add 1800MW to the national grid.
EGPC Seeks to Delay Dollar Payments to Banks
The Egyptian General Petroleum Company is negotiating with banks to delay dollar payments it owes, as foreign currency requirements are not being met by the Egyptian Central Bank.
El Molla Signs Two New Exploration Agreements
Tarek El-Molla, Minister of Petroleum and Mineral Resources, signed two new agreements for oil and gas exploration in the Gulf of Suez and Western Desert. The first agreement is for the Haliph area in the Western Desert with the Tunisia's HBSI, with minimum investments of about $9m and a signature bonus of $1m, to drill 4 exploration wells, Egypt Oil & Gas reports.
Egypt to Add 3GW to Power Grid in 2016
Egyptian Electricity Minister, Mohamed Shaker stated on December 6th that Egypt will add between 2,000MW and 3,000MW to the country’s electricity generation capacity in 2016. The expansion will reduce rationing for Egyptian industry and consumers.
Egypt, IFC Launch Energy Efficiency Program
Egypt and the International Finance Corporation have agreed to a $2.3m deal to improve energy efficiency and pollution in Egyptian industry.
