News / Egypt
EGAS to Supply Gas to Fertilizers for Local Market
The Egyptian Natural Gas Holding Company (EGAS) agreed with the Ministry of Agriculture to prioritize supplying natural gas in the summer months to fertilizer factories that feed the local market.
Egypt Speeds Up Siemens’ Power Plants Project
Egypt’s strategic plan to speed up the process of executing the Siemens deal by constructing three almost identical power plants in Beni Suef, New Capital, and Burullus is successfully delivering the intended results.
Aker Solutions Wins Order for Zohr Field
Aker Solutions, the Norwegian global oil and gas service provider, has won an order to deliver its largest-ever umbilicals project for the Zohr gas field in Egypt, the company informed in a press release.
El Molla Surveyed Wells Drilling in Zohr
Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, has surveyed Saipem 1000 maritime saw rig that drills into wells of Zohr field at a drilling distance of 4,100 meters, 200 km away from the coast of Port Said.
Shell Lubricants Plans Production Increase
Shell Lubricants Egypt's MD, Saher Hashem, stated that the company plans to increase its production capacity to 100m liter of motor oil.
Egypt’s Foreign Reserves Rose to $17.52b
Egypt's net foreign reserves rose to $17.52b at the end of May, up from $17.011b in April, the Central Bank of Egypt (CBE) announced.
Electricity Ministry Studies Offers for National Grid Maintenance
The Ministry of Electricity has received five offers from Arab and international companies for the maintenance of components of the national electricity grid, said Egyptian Electricity Holding Company (EEHC) Chairperson, Gaber Dessouky.
Egypt Receives ‘B’ Rate with Stable Outlook
Fitch Ratings, one of the three biggest credit rating agencies in the world, has maintained its sovereign rating on Egypt at a ‘B’ with a Stable Outlook.
