News / Egypt
Sisi Seeks Greater Funding, Shared Responsibility at COP21
Egyptian President Sisi spoke at the UN Climate Change Conference in Paris on November 30th. Sisi stated support for a binding deal, but raised an issue of disparity between developed and developing countries' contributions to climate change.
Egypt Opens MENA’s Largest Wind Farm
Egypt announced on November 30th the opening of the region’s largest wind farm in the Gabal al-Zeit area near the Red Sea. The wind farm is estimated to bring between 150 and 200 megawatts to the Egyptian electricity grid.
Eni’s Zohr is Expected to Produce Only 22 TCF
The Egyptian General Petroleum Corporation Chairman Mohammed Al-Masry told Egypt Oil & Gas that EGPC agreed totally with the head of Italy’s Eni that the Zohr giant gas field needed to enter into production to help bridge the gap between production and consumption in Egypt.
GANOPE to Sign MoU with NREA
GANOPE Chairman Abu Bakr Ibrahim told Egypt Oil & Gas that efforts were underway to exploit non-conventional energy sources and promote the use of renewable energy.
EGPC to Take New Measures for the Transportation, Storage of Fuel
Mohammed Taher, EGPC Vice Chairman for Petroleum Projects and Planning, said that EGPC is taking new measures for the storage and transport of petroleum products within the provinces to prevent jams in front of fuel stations, reported Egypt Oil & Gas.
Gas Regulatory Authority to Launch 2016
During a press conference in South Sinai, Minister of Petroleum and Mineral Resources, Tarek El Molla, said that a new gas market regulation authority will be launched by the middle of 2016, concerned only with regulating the pricing of gas trading services and not the prices of gas itself, Daily News Egypt Reports.
World Bank Loan Diverted in Part to Pay Foreign Dues
Tarek El-Molla, Minister of Petroleum and Mineral Resources, confirmed that his Ministry planned to attract $8.5b worth of new foreign investments into the Egyptian petroleum sector during the current fiscal year, reported Egypt Oil & Gas. El Molla: No Truth to IOCs Decreasing Exploration
Tarek El-Molla, Minister of Petroleum and Mineral Resources, said that the rumors about international oil companies (IOCs) halting exploration expenditures because of indebtedness and low oil prices is completely untrue. Proof positive of this was the fact that foreign companies had not stopped work when the sum owed them was $6.3b, Egypt Oil & Gas reports.
