News / Egypt
Egypt’s LNG Imports to Hit $3.55 bn
Egypt will import around $3.55 bn worth of liquefied natural gas (LNG) in the current financial year, EGPC says.
Egypt’s Oil Exports Drop
CAPMAS reported last Sunday a 22.1 percent drop in exports' value, standing at EGP12.03 bn in January 2015, in comparison to last year’s EGP15.44 bn.
PetroSilah to Open First Mobile Oil Refinery in Egypt
PetroSilah Petroleum is working on launching the first mobile oil refinery in Egypt, with production capacity of 10,000 b/d and an initial cost of $5m.
Petrojet Wins $185m Contract for Iraq Gas Project
Egypt’s state-owned Petrojet has been awarded a $185m contract to build the first gas-processing plant for Iraq’s Siba oilfield, operated by Kuwait Energy, reported Amwal al Ghad.
MIDOR Signs $1.4 bn Deal to Expand Refinery
Egypt’s state-run petroleum refinery MIDOR has signed two deals worth $1.4 billion with US-based engineering company UOP to raise its capacity.
IFC to invest $ 2 bn in Egypt’s Energy and Infrastructure
The International Finance Corporation (IFC), a subsidiary of the World Bank in charge of the private sector, plans to invest 1.2 to $ 2 billion in Egypt over the next four years.
Egypt’s Bond Rating Upgraded to B3
For the first time since 2012 credit ratings provider Moody's upgraded the Egyptian government's bond rating to B3.
Egypt to Shift Focus to Renewables
The government announced a string of plans to add a combined capacity of 4.3 gigawatt hours to the country's grid and the introduction of a new feed-in tariff system aimed at encouraging private investment.
