News / Egypt
BW Strikes a Deal to Provide Egypt with its Second FRSU
Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract, an official at state company EGAS told Reuters on Monday, as the government grapples with energy shortages.
Press Release: Egyptian Ministry of Petroleum
The Minister of Petroleum and Mineral Resources, Sherif Ismail, announced that the launching of the new Suez Canal project is a message of hope to the Egyptian people and a gift to the world.
EGPC: New Petroleum Projects Exceeding EGP2.6 Bn
EGPC sources revealed to Al-Mal newspaper that six new investment projects were now on the table to develop a network for transporting petroleum derivatives and fuel all over the country at an expected cost of more than EGP 2.6 billion.
Magapetco Plans Investments for its Hurghada Concession
Chairman Magawish Petroleum Company (Magapetco), Hamdi Hanafi, affirmed that his company’s investment plan for the 2015/2016 fiscal year includes pumping investments of over EGP 70m into its Hurghada concession area.
Petroleum Ministry Working on Increasing Butane Gas Supply
The Petroleum Ministry is working on an integrated program to secure fuel supplies to the local market and improve services offered to citizens.
Steam Turbines to Power West Damietta and Assiut Power Plants
GE is providing its advanced D200 steam turbines to upgrade the West Damietta and Assiut Power Plants to generate an additional 750 MW through combined-cycle operation. This will take the total capacity of the two plants from 1.5 GW to 2.25 GW, further contributing to helping meet the increasing demand for power in the country.
Egypt Raised Electricity Prices on High Usage Households
Egypt raised electricity prices on Thursday for mid-to-high household usage by an average of 19 percent for the 2015-2016 fiscal year, the electricity ministry said.
Petroleum Sector Imports Projected at $16m for Current Fiscal Year
Egypt expects to import 28.6 million tons of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said.
