News / Egypt
Petroleum Ministry: BG’s Egypt Projects Not Affected by Shell Buyout
In an exclusive with Youm7; informed sources at the Ministry of Petroleum and Mineral Resources said that Royal Dutch Shell’s purchase of the BG Group will have no impact whatsoever on BG’s projects and investments
Former Petroleum Minister States that Feasibility Studies are Best Way to Deal with Foreign Firms
In exclusive statements made to Youm 7, former Minister of Petroleum Osama Kamal said that the ideal way to deal with foreign companies that want to invest in Egypt is to prepare banking feasibility studies in advance.
Brent falls towards $66, China Factory Activity falls
Brent crude dipped towards $66 a barrel on Monday as weak Chinese data adds to demand fears, while near-record supplies from OPEC producers maintained worries about oversupply.
US Butane Technology to Help Fuel Egypt’s Industrial Sector
Butane in its regular state is of high density and cannot be pumped through pipelines, however, after mixing it with air, it converts into the same technical characteristics as natural gas, according to Abu Bakr.
Update-1 Banks Pool in for Loan to EEHC
It was previously announced that 10 banks will contribute to a loan for EEHC. A new announcement, reported by Amwal al Ghad saya that five banks have reached a final agreement on their shares in a US$521 million loan to support Egypt’s electricity sector.
Egypt’s First Floating Power Plant
Arab Energy is finalizing all necessary approvals to supply the first floating 200MW power plant, with investments worth more than $180m. The plant will be located in an Egyptian port, to connect its production with the transport network and deliver energy to the company’s clients.
Abengoa to Enter Egyptian Solar Market
Abengoa’s solar business chief executive Armando Zuluaga signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority and the Egyptian Electricity Transmission Company to define the terms of cooperation for renewable energy in Egypt.
Fuel Smart Card System to Take Effect from June 15
Egypt will begin rolling out a smart card system for subsidised fuel from June 15, the head of the firm overseeing the project said, part of plans to reduce costly energy subsidies over time.
