News / Egypt

El Molla: Fuel Subsidy Cuts Reducing Budget Deficit

Egyptian Petroleum Minister, Tarek El Molla, said that cuts in fuel subsidies are quickly reducing Egypt’s budget deficit. The Financial Times reports that spending on fuel subsidies will be reduced from $9b in fiscal year 2014/2015 to $7.7b this cycle.

Suez Cement: Steady Gas Supply Increased Production

Major Egyptian cement producer Suez Cement announced last week that the Egyptian cement industry, benefiting from increased energy availability, increased production by 29 percent compared to last year and by 23 percent through the first nine months of 2015.

Egyptian Gas Production Increases to 4.3 bcm/d

The Egyptian Natural Gas Holding Company (EGAS) reports that Egyptian natural gas production has increased to 4.3 bcm/d , up 50 mscfd from the previous month.

Oil spill in Al-Sinbellawin

The Egyptian Environmental Affairs Agency (EEAA) released a statement late Monday announcing the discovery of an oil spill in the Al-Bouhiya Canal near Al Sinbellawin, in the delta governorate of Dakahlia.

Tarek El Molla Speakes at Adipec

Tarek El Molla, Minister of Petroleum and Mineral Resources, is attending the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), according to a press release by the ministry.

Suffering Factories to Receive 700 mscf of Gas This Month

Sources at EGAS told Egypt Oil & Gas that a decision was taken to pump 700 mscf of liquefied natural gas (LNG) to factories suffering from gas shortages.

Egypt Redefines Mediterranean Borders

Ahmed Abdel Halim, petroleum expert in maritime borders, told Egypt Oil & Gas that the ministry of defense had sent a map to the petroleum ministry illustrating all concessions owned by Egypt in the Mediterranean deep-waters, and identifying the marine borders between Egypt and Israel and Cyprus, Turkey and Greece, clearly marking each country's economic zone.

BAPETCO Achieves Highest Production Record in 15 Years

Badr El-Din Petroleum Company (BAPETCO) achieved its highest rates of oil and gas production in 15 years.

Saafan: Egypt to Increase Reliance on Petrochemical projects

Mohammed Saafan, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), told Egypt Oil & Gas that the coming period will witness an increasing reliance on petrochemical projects to provide products for local markets and reduce the nation's import bill.

Diesel and Fuel Oil Pumped to Power Plants to Be Redirected

A source at the petroleum ministry revealed to Egypt Oil & Gas that the quantities of diesel and fuel oil pumped to power plants will be redirected to build up the strategic reserves.

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