News / Egypt
Petroleum Ministry Owes EGP 100Bn to Finance Ministry
The debt of the Ministry of Petroleum to the Ministry of Finance has climbed to reach EGP 100bn. The main reason for that was the Ministry’s effort to pay accumulating arrears to foreign partners.
Consortium of 10 Banks to Loan the EEHC
A consortium of ten banks is offering a loan of $1.3bn, EGP 10bn, of financing to the state-run Egyptian Electric Holding Company (EEHC) with new terms.
Egypt Receives $6bn from Saudi Arabia, UAE & Kuwait
Saudi Arabia, Kuwait and the United Arab Emirates deposited $6bn with Egypt's Central Bank, the bank's governor said, a sign that the gulf powers remain committed to propping up the Egyptian economy.
Egyptian State Company to Present Solar Project in Aswan
The Egyptian State company proposed a megaproject to generate 100 megawatts of energy using solar power in Upper Egypt's Aswan .
Egypt to Save EGP 1.5bn from Energy-Efficient Street Lighting
A project to replace 3.89 million street lamp bulbs with energy-efficient ones is expected to save Egypt EGP 1.5bn.
Ganope’s Assiut Refinery Covers 76% of Upper Egypt’s Oil Needs
Egypt’s state-owned Ganoub El-Wadi Petroleum Holding Co. (Ganope)’s refinery in Assiut will fill 76% of oil needs in Upper Egypt governorates in the upcoming fiscal year, according to Chairman Abu Bakr Ibrahim.
Egypt to Receive $500m Loan from World Bank to Expand Natural Gas Grid
Egyptian President Abdel-Fattah El-Sisi ratified a $500m loan agreement with the World Bank to fund the expansion of the national natural gas grid, where 1.5m households will be added to the grid.
BP Awards OneSubsea Contract for WND
OneSubsea, a Cameron and Schlumberger company, has been awarded a contract to supply subsea systems for the BP West Nile Delta Development (WND)’s Taurus Libra fields in Egypt.
