News / Egypt
Petroleum Minister Follows Up on Plan to Secure Winter LPG Supply
Tarek El Molla, the Egyptian Minister of Petroleum and Mineral Resources, convened a meeting to follow up on the preparations being currently made to ensure there is a sufficient supply of butane gas for winter.
Egypt’s Second FSRU Arrives in Ain Sokhna
The second Floating Storage and Regasification Unit (FSRU) arrived in the Egyptian port of Ain Sokhna, Reuters reported.
EGAS to Announce Mediterranean Bid Round Results
According to sources at EGAS, the company plans to announce the names of the winning bidders for the exploration bid round in the Mediterranean, by the end of this month.
Egypt to Issue Fuel Smart Cards for Fishing Vessels
The Ministry of Finance issued a statement saying that it is working on issuing gasoline cards to registered fishing boats and has already issued cards to boats at Red Sea ports.
EGAS and ENI to Discuss Shorouk Development Plan
Eng Khalid Abd alibda, chairman of the Egyptian Natural Gas Holding Company (EGAS), told Egypt Oil & Gas that there is currently a joint working group between EGAS and the Italy's ENI, to review the development plan for the Shorouk Mediterranean discovery, which includes four production wells. Production is expected to begin, January of 2017, producing an estimated 700 mcf of gas per day.
2nd FSRU to Reach Egypt in October
Khaled Abdel Badie, Chairman of the The Egyptian Natural Gas Holding Company (EGAS) confirmed that the second floating storage regasification unit (FSRU) will reach the Ain Sokhna port early October, reported Egypt Oil & Gas.
Egypt Saved EGP 30b as Oil Prices Dip
Sources at the Petroleum Ministry revealed to Egypt Oil & Gas that the global price of oil reaching $48 a barrel will save the state nearly EGP 30b during the current fiscal year (FY) alone, as the government has set $75 as the average price of a barrel of oil in the current budget, in anticipation of any sudden changes in international oil prices during the year.
EGAS to Resume Gas Supply to Factories Gradually
EGAS still is refraining from supplying to MOBCO, Misriya 1 and 2, Nasr, Helwan, Alexandria, and APEC fertilizer factories thanks to the continued rising fuel demands of power plants, an EGAS official explained in statements made to Al-Borsa.
