News / Egypt
El Molla Inspects MOPCO’s New Factories
Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that the ministry's strategy in the petrochemical industry is based on expanding the added value of natural gas through establishing many petrochemical industries that will cover the needs of the local market, reported Egypt Oil & Gas.
Egypt to Import Petroleum Products from Kuwait
Negotiations with Kuwait are underway to supply with new quantities of petroleum products Egypt for the winter period during the years 2016 and 2017, reported Egypt Oil & Gas.
Oil Ministry in Negotiations with IOCs for LNG
A source at EGPC revealed to Egypt Oil & Gas that negotiations with a number of foreign oil companies are underway to buy their share of liquefied natural gas (LNG) to meet the needs of power plants and factories suffering shortages during the current fiscal year.
TAQA Arabia, EGB Strike A Deal to Finance National Gas Project
TAQA Arabia announced in a press release that it has reached an agreement with the Egyptian Gulf Bank (EGB) over financing the project connecting household units and businesses to the national gas grid. The agreement was made in cooperation with the Egyptian government, and is worth EGP 700m.
Petroleum Products Imports to Increase to $1.3b/Month
Sources at EGPC revealed that the rise in the dollar value will increase the crude oil and petroleum derivatives import bill to reach $ 1.3b a month in comparison to the previous range of $1.1b-1.2b, reported Al-Mal.
Sisi Meets with Eni’s CEO
According to a press release by Italy's Eni, President Abdel Fattah Al Sisi, and Eni’s Chief Executive Officer, Claudio Descalzi, met in Cairo to discuss Eni's activities in the country.
Petroleum Minister Inspects Ethylene Project in Alexandria
Minister of Petroleum and Mineral Resources Tarek el Molla visited the ethylene production project in Alexandria, to inspect its implementation, reported State Information Service. The project is worth $1.9b, and represents a model of successful partnership between the petroleum sector and the Egyptian banks. Egypt Borrows Dollars to Pay International Oil Firms
Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that discussions are ongoing with the Ministry of International Cooperation to obtain part of their loan of dollars.
Japan to Promote Energy Efficiency in Egypt
Japanese Ambassador to Cairo Takahiro Kagawa said that his country is ready to provide all the help that it can in relation to energy-saving, especially in light of the energy crisis Egypt is facing.
