News / Egypt
Egypt Spent EGP 126.3bn in Petroleum Subsidies in 2013/14
Egypt has spent EGP 126.3bn on oil products subsidies during the fiscal year (FY) 2013/2014, according to a US Energy Information Administration (EIA) report on Egypt’s energy released in June.
Fuel Subsidy Card Posponed
Egypt's President Abdel Fattah El-Sisi asked his government on Saturday to consider postponing a smart card system for subsidized fuel which was due to come into effect in two days, state media said
Ministery of Petroleum: EGPC in Dire Financial Strain, as Debt Climbs to EGP 101bn
the Minister of Petroleum appealed to the Council of Ministers to save EGPC from its financial troubles, represented as they are by a high ceiling of the debt, in addition to its inability to collect its dues from government agencies.
Update-1 EEHC to Receive EGP 1.75bn Loan from Banque Misr
Banque Misr will provide an EGP 1.75bn share in the loan coordinated for the Egyptian Electricity Holding Company (EEHC), according to Banque Misr Chairman Mohamed El-Etreby.
DEA to Pump $274m Investment into its Concessions
German company DEA plans to invest about $274m during the coming fiscal year to increase oil and gas production rates from its concessions in the Gulf of Suez and Kafr el-Sheikh.
GUPCO Re-establishes Ruined Platform in Hilal field
Gupco successfully completed the manufacture and installation of a new marine platform in the Hilal offshore field
Petroleum Minister: Current Projects in Egypt Worth $9.4bn
The petroleum sector is currently implementing projects worth $9.4 billion, in addition to projects that have been completed, Egypt's petroleum minister said on Monday.
First Austrailan LNG Shipment Arrives to Egypt
Egypt is set to receive its first liquefied natural gas (LNG) delivery from Australia on Wednesday, live ship-tracking data on Reuters Eikon showed.
