News / Egypt
SUCO Drills Developmental Well in Eastern Desert
Suez Oil Company (SUCO) has concluded drilling ZB-24 ST-1, a new developmental well in the company's Zeit Bay Development lease in the Eastern Desert. The operation comes in the context of SUCO's development plan for the 2011-2012 fiscal year. Egypt’s Citadel Capital narrows loss in 2011
Egyptian private equity firm Citadel Capital said on Thursday it had narrowed its net loss in 2011 after reducing the size of writedowns of underperforming assets. Clean Energy Development in Egypt
Egypt was once an exporter of oil and gas, but now it is struggling to meet its own energy needs. The growth in energy consumption is a response to the country's economic expansion, industrialization, and change in the people's lifestyle. EGPC Files Arbitration Case in Israel Gas Dispute
Egyptian General Petroleum Corp. and Egyptian Natural Gas Holding Co. filed a request for arbitration against East Mediterranean Gas Co. over a deal to supply natural gas to Israel, EGPC's chairman said. Egypt Seeks to End Fuel Subsidies by 2018
Egypt may gradually scrap subsidies on oil products by 2018, introducing coupons for gasoline and diesel as part of the phaseout, the independent newspaper Al Masry Al Youm reported, citing unidentified officials. Egypt’s gas debts get heavier
Egypt's petroleum ministry is struggling to keep its spending under tabs. Now overspending threatens one of the most important projects in the nation: the contract for natural gas. El Paso Agrees to Sell All Its Oil and Gas Fields in Egypt
El Paso Corp. (EP) , the pipeline company being bought by Kinder Morgan Inc. (KMI), has agreed to sell its oil and natural-gas fields in Egypt to an unidentified buyer, reducing its first-quarter results by about $62 million. Saudi Aramco Said to Raise June Differentials for Sidi Kerir Oil
Saudi Arabian Oil Co. raised differentials used to determine official selling prices for June shipments from Egypt's Sidi Kerir port on the Mediterranean Sea, two people familiar with the pricing decision said. 
