News / Egypt
35% Savings on Petroleum Subsidies Due to Oil Prices Decline
Savings on petroleum product subsidies will reach an estimated 35% of the current value of EGP 100 billion for the FY 2014/2015 budget if current oil prices continue as is, Minister of Petroleum Sherif Ismail said.
Egypt to Reach LNG Agreement with Gazprom This Month
Egypt and Russia's Gazprom are to reach an agreement for the company to supply LNG shipments later this month, Egyptian Oil Minister Sharif Ismail told Reuters.
Access Pre-qualifies to Develop Wind and Solar Power Plants
Access Infra Africa ('Access'), a wholly owned subsidiary of Access Power MEA, and its consortium partner Eren, a leading global investor in power projects, have been pre-qualified by Egypt's Ministry of Electricity and Energy to develop large scale wind and solar power plants as part of the first round of Egypt's renewable energy procurement program.
Gas Supplies to Cement Factories Replaced with fuel Oil
A senior Egyptian Natural Gas Holding Company (EGAS) official said the Egyptian General Petroleum Corporation (EGPC) has been informed of measures to be taken for cement factories’ fuel oil needs in 2015.
Kuwait Energy Completes Testing Al Jahraa-3
Kuwait Energy has completed testing at the Al Jahraa-3 oil appraisal well in the Abu Sennan Concession onshore Egypt, with the well cased and completed as an Abu Roash “C” member oil producer.
Eni Signs New Concession Agreement in The Western Desert
Italy's Eni has signed a new concession agreement to operate in the South-West Melehia block in the Western Desert of Egypt, as Cairo continues to look to international operators to boost its flagging production.
Transport Ministry and Suez Canal Authority Refuse to allocate Port Said Pier for LNG Boat
A senior Ministry of Petroleum official said the Ministry of Transportation and Suez Canal Authority refused to allocate a pier at Port Said to receive a second regasification boat. The boat would allow shipments of liquefied natural gas (LNG). Egypt Signs Six New Exploration Agreements
The Petroleum Ministry said that it signed oil and gas exploration agreements in the Western Desert and Gulf of Suez.
