News / Egypt
ISIS Leader Linked to Death of Apache Employee
The Egyptian government announced on November 9th that Ashraf Ali Ali Hassanein al Gharabli, a leader of the Sinai branch of ISIS, was killed by police during a firefight in Cairo’s El Marg district.
Eni Amends Concession Agreements with Egypt
Eni’s Egyptian subsidiary, IEOC, has signed 3 new amendments to its agreements with the Egyptian government. In a November 12th press release, the company announced the amendments for their concessions of Sinai 12 and Abu Madi, North Port Said, and Baltim. The company also announced a new concession agreement named “Ashrafi,” which will be a partnership with French electric utility company Engie.
Noble Energy: Still Room for Gas Exports to Egypt
“Reports of the death of the (gas) market in Egypt have been greatly exaggerated” says Noble Energy Vice President and Country Manager for Cyprus Gene Kornegay. The Noble Executive spoke at The Economist Cyprus Summit in Nicosia on Tuesday, stating that the company remains confident that despite the massive Zohr Field discovery, Egypt will remain a strong market for natural gas in the immediate future.
Azerbaijan to Enter Egypt’s Petrochemical Industry
SOCAR, Azerbaijan’s state-owned energy company, is interested in taking a stake in Egyptian oil refineries, Reuters reports.
“Egyptians Against Coal” Aims to Eliminate Coal Usage in Egypt by 2017
An Egyptian environmental coalition named “Egyptians Against Coal” (EAC) released a statement today calling for the end of coal usage in Egypt by 2017. The grassroots movement objects to coal being used for industrial use and electricity generation due to its “hazardous environmental threats,” according to the statement. El Molla: Fuel Subsidy Cuts Reducing Budget Deficit
Egyptian Petroleum Minister, Tarek El Molla, said that cuts in fuel subsidies are quickly reducing Egypt’s budget deficit. The Financial Times reports that spending on fuel subsidies will be reduced from $9b in fiscal year 2014/2015 to $7.7b this cycle.
Suez Cement: Steady Gas Supply Increased Production
Major Egyptian cement producer Suez Cement announced last week that the Egyptian cement industry, benefiting from increased energy availability, increased production by 29 percent compared to last year and by 23 percent through the first nine months of 2015.
Egyptian Gas Production Increases to 4.3 bcm/d
The Egyptian Natural Gas Holding Company (EGAS) reports that Egyptian natural gas production has increased to 4.3 bcm/d , up 50 mscfd from the previous month.
