News / Egypt
Oil Ministry Eyes Increase in Oil Output
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the ministry will request foreign oil and gas investors to increase the number of oil wells in the Nile Delta concessions, with an aim of boosting the output to the level of about 1bcf/d.
EGPC to Expand Oil, Diesel Import
The Egyptian General Petroleum Corporation (EGPC) is currently in negotiations with foreign importers to provide oil and diesel to create massive strategic reserves to cover market demands.
Egypt Raises Electricity Prices for Industries
In accordance with the increase in electricity prices by 21% to 23% for energy intensive industries using high voltage, Egyptian manufacturers and merchants are planning to raise their selling prices. The impact on inflation is thus expected to take effect in September.
Eni Plans to Sell 20% of Zohr Field
Italy's Eni plans to sell at least a 20% stake in Zohr field in Egypt to different oil companies including Russian Lukoil, US ExxonMobil, French Total, and UK's British Petroleum in order to raise around $5.5b from asset disposal within two years.
EGAS to Amend High Household Gas Invoices
EGAS will revise and amend gas bills for angry homeowners.
Sisi Launches $1.9b Petrochemical Complex
Egyptian President Abdel Fattah El Sisi launched the petrochemicals complex of Egyptian Ethylene and Derivatives Company (Ethydco) in Alexandria in mid August with a total investment of $1.9b.
Egypt Pays Off Dues for Imported Oil, Gas
The Egyptian Ministry of Petroleum and Mineral Resources announced that Egypt had paid all its due bills for the purchase of imported crude oil and natural gas from foreign companies for the fiscal year 2015-2016.
EGAS Pumps High Volume of Gas for Vehicles
The Egyptian Natural Gas Holding Co (EGAS) pumps a considerable volume of gas to service stations as motor vehicles consume 102bcf of natural gas each month, averaging 47mcf/d.
