News / Egypt
Drilling Begins at Zohr Field
ENI has begun drilling at Egypt's Mediterranean Zohr field. The company is expected to invest $12b in 20 wells to be completed over 26 months.
18 Promotions and Transfers in the Petroleum Sector
The Minister of Petroleum and Mineral Resources, Tarek El Molla, approved a list of transfers and promotions for the heads of state companies in the petroleum sector.
China Railway Submits Bid to Build $2.2b Power Plant in Egypt
The China Railway Company has submitted a bid to build a $2.2b energy plant in Egypt that will operate on a combined-cycle system with a capacity of 2,000MW.
EGPC May Receive Part of WB Loan to Pay Debts
The Egyptian General Petroleum Company (EGPC) may receive a portion of the $3b World Bank loan granted to Egypt, although reports vary.
Egypt to Receive $187.5m from Kuwait for Butane Imports
Kuwait has granted Egypt a $187.5m loan to import butane, a deal that is likely to be fulfilled after years of negotiations.
Ezz Steel Records $71m Net Loss between January and September
Ezz Steel, Egypt’s largest steel producer had a net loss of EGP 559.1m ($71.4m) between January and September 2015 due to currency and energy shortages.
IDWBE Considering EGP 500m Loan to Electricity Sector
The Industrial Development & Workers Bank of Egypt (IDWBE) is considering contributing between EGP 400m and EGP 500m to a syndicated loan to the Egyptian Electricity Transmission Company (EETC), being arranged by the Abu Dhabi Islamic Bank – Egypt (ADIB).
EGAS Decreases Gas Imports, Restores Full Industrial Supply
The Egyptian Natural Gas Holding Company (EGAS) has reduced gas imports to around 700mcf/d from 1bf/d in November over declining domestic consumption, allowing the company to fully supply gas to high-consuming factories.
