News / Egypt
Egypt to Reduce Oil Product Subsidies to 30% by 2020
Egypt plans to reduce oil product subsidies to 30% over the next five years, pulling back plans to eliminate subsidies completely in that time.
Former EGAS Chairman: ICC Lacks Jurisdiction in Israel Dispute
Egypt’s appeal over the dispute with Israeli companies over stopped gas shipments will be based on a lack of jurisdiction by the ICC, according to former EGAS Chairman, Mohamed Shoeb.
Ganope to Generate Power from Geothermal Energy
Abu Bakr Ibrahim, Chairman of Ganope, told Egypt Oil & Gas that a memorandum of understanding (MoU) has been signed by Ganope, as a representative of Petroleum Ministry and New and Renewal Energy Authority (NREA) for the exploitation of the earth’s natural underground temperature for the production of renewable energy.
Tarek El Molla Meets with Bechtel’s Regional Head
Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed Egypt’s ongoing and future projects with David Welch, Bechtel’s President of the Europe, Africa, and Middle East region, according to a press release issued today. This covered oil, gas and petrochemicals and Bechtel’s ability to participate in their execution and other investment opportunities in Egypt.
10 Thousand Petrotrade Workers on Strike
10 thousand workers at Petrotrade are on their 6th consecutive day of a wage increase strike. The strike is witnessed at the Giza, Cairo, Assuit, El Haram, Nasr City, and Masr El Gdida branches, Egypt Oil & Gas reports.
Egypt-Israel Suit to Be Resolved through Negotiations
The Egyptian government expects the current gas dispute with Israel to be settled through negotiations due to Egypt's importance as a terminal for Israeli gas exports.
Egypt Seeking Greater Saudi Investment
Egyptian Prime Minister, Sherif Ismail will meet with Saudi government officials and investors with the goal of increasing economic ties.
Government to Test LPG Card System
The government of Egypt is interested in implementing an LPG card system to help tackle black market, Egypt Oil & Gas reported.
