News / Egypt
First Shale Gas Production in Egypt
In February 2016, Egypt will witness its first shale gas production on the hands of Royal Dutch Shell and American Apache.
African Development Bank to Fund Egypt’s Renewable Sector
Egypt signed Thursday a grant agreement with the African Development Bank Group's Middle Income Country Technical Assistance Fund (MIC TAF). Upon the agreement, Egypt shall receive three grants with total value of US$4.6 million from the MIC TAF.
Egypt’s Trade Deficit Rises to EGP 21bn while Petroleum Imports Decline
Egypt's trade deficit widened to 21 billion Egyptian pounds in February, from 20.2 billion pounds a year earlier, the state's Central Agency for Public Mobilization and Statistics (CAPMAS) said on Thursday.
ITFC Funds Egypt’s Diesel and Petroleum Imports
An agreement on receiving funds from the International Islamic Trade Finance Corporation (ITFC) to import “essential goods” into Egypt was signed by President Abdel Fatah al-Sisi Thursday.
Egypt’s Private Sector Allowed to Import Gas
Egypt has given the private sector a green light to import natural gas or liquefied natural gas (LNG), a government official said, a step that could encourage private investment in the energy sector while easing energy shortages.
Egypt to Launch $3bn Tender to Import LNG
Egypt is set to launch what will be a highly sought after tender in early June to buy up to $3bn of liquefied natural gas (LNG) over 2016 and 2017, senior state officials and trade sources said.
Egypt’s $7.5 Bn PetroChem Project Attracting International Banks
Egyptian Investment Minister Ashraf Salman has discussed Wednesday plans to carry out petrochemicals project in Egypt with the representatives of the U.S. Export-Import Bank, Export-Import Bank of Korea (Korea Eximbank).
Petroleum Ministry: No Truth to Rumors of Fuel Price Increase
The Ministry of Petroleum and Mineral Resources denied that it currently had any intention to increase prices of petroleum products.
