News / Egypt
Russia, Egypt to Sign Deal for 2nd Nuclear Power Plant
Russian Prime Minister Dmitry Medvedev announced during an interview with Ahram Online that a deal for the construction of a second nuclear power plant in Egypt is about to be finalized.
World Energy Council: Energy Crisis in Egypt Needs EGP 140bn
Maher Aziz, member of the World Energy Council, said Egypt needs EGP 140bn (US$18.2bn) to solve its ongoing electricity shortages.
Sidi Kerir Petrochem Profits Down by 12%
Egypt's Sidi Kerir Petrochemicals announced its profits for the first half of 2015, recording a total of EGP 421.8m ($53.9 million), reported Reuters.
Update-1 Enppi to Complete Coking complex Assessment by March
Enppi announced its plans to complete the rehabilitation project for the Suez Oil Processing Co. coking complex during the first quarter of next year.
Hibuscus Petroleum Wins Concession in Egypt
Malaysia's Hibiscus Petroleum Bhd. has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi Petroleum Holding Co. (Ganope), reported Amwal al Ghad.
Petrosalam Hands Over Gulf of Suez Concessions to EGPC
Petrosalam handed over its exploration concession Northwest October in the Gulf of Suez to EGPC, reported Al Borsa Newspaper Petrosalam began exploration work in January but had to discontinue its operations due to the declining global Brent price of oil which affected the feasibility of the project.
Egypt to Reduce its Debt to IOCs to $2.9bn
Sherif Ismail, Egypt’s Petroleum Minister announced the country’s plan to reduce its debt to foreign oil companies to $2.9 billion from $3.5 billion by the end of August, with a plan to repay the rest by the end of 2016, reported Reuters.
Petroleum Ministry to List 3 Government Oil Companies on EGX in 2015
Egyptian Minister of Petroleum Sherif Ismail announced that Egypt will choose a local investment bank during the third quarter of the current year to list 3 companies on EGX before the end of 2015, reported Reuters.
