News / Egypt
Scatec Solar Invests $600m, Sees Egypt as MENA Solar Hub
Scatec Solar, a leading solar energy provider, is planning to invest $600m on solar projects over two years in Egypt.
Fears that Dana Gas Losses May Affect Egypt Investments
UAE-based Dana Gas announced a $7.6m loss in the third quarter of 2015. The company operates mostly in Egypt and Iraq.
El Molla: New Discoveries to Make Egypt Regional Energy Center
The recent discoveries of the Zohr and North Alexandria fields will make Egypt a regional center for oil and gas, Egyptian Petroleum Minister, Tarek El Molla said
EGPC in Negotiations with Kuwait to Increase Imports
The Egyptian General Petroleum Corporation is currently in negotiations with the Kuwait Petroleum Company to increase the number of barrels supplied by the KPC from 2.2m barrels monthly to 2.7m barrels.
GANOPE to Expand into Renewable Energy
Ganoub El Wadi Petroleum Holding Company GANOPE agreed, during an assembly meeting, that the company should expand its activities to include unconventional sources of energy during the coming period. The meeting was presided over by the Minister of Petroleum and Mineral Resources, Tarek El-Molla. This decision came in the framework of the government's drive to diversify Egypt’s energy mix through new sources of energy, reported Egypt Oil & Gas.
Dollar Decline to Save Egypt 200m a Month in Subsidies
A source at EGPC told Egypt Oil & Gas that the local decline in the value of the dollar is a positive factor in ensuring that the amount allotted to energy subsidies in the state budget is not surpassed.
Government Rules Out Fuel Price Increase this FY
A government source informed Egypt Oil & Gas that the government has ruled out raising fuel prices, a decision that is in the hands of sovereign authorities and the Council of Ministers only. This is especially since the smart cards has still not been universalized for all the petrol stations in the governorates, to insure that the entitled, low-income groups, receive subsidies earmarked for them.
Siemens to Receive €4.1b Loan for Egypt Project
German credit insurance agency Euler Hermes has agreed to underwrite a €4.1b loan to Egypt from a consortium of German banks in support of Siemens electricity production efforts in the country, Egypt Independent reports.
