News / Egypt
NBE and Banque Misr to Fund Power Plant
A new banking consortium, involving two of Egypt’s biggest public banks, the National Bank of Egypt (NBE) and Banque Misr, plans to secure a multi-billion Egyptian pound syndicated loan for a power plant in Red Sea.
Egypt to Boost Coal Production Despite Un-need
Energy experts said Egypt loses 20% of its electricity energy due to poor and old networks, in addition to a lack of oil and natural gas supplies. Egypt currently suffers from a major energy crisis due to the increase in demand, and low supply. As such, the government has turned to the coal industry as an alternative source of energy to generate electricity.
No Bidders for Egypt’s Second LNG Floating Terminal
Egypt has not received any responses to a tender for its proposed second LNG terminal and is struggling to find a suitable port.
Egypt’s First Coal Conference Concludes: Cement Factories to Use Coal
90% of cement factories have agreed to use coal in their production, the Industrial Development Authority is facilitating the rehabilitation of factories in that regard and in quantifying the necessary amounts,” said head of the Industrial Development Authority, Ismail Gaber.
Press Release: Egypt’s Oil Sector Gathers to Discuss Production Optimization
Egypt Oil & Gas is pleased to announce the largest oil and gas event of the year, the Production Optimization Convention—hosted from May 10 through May 13. The purpose of the four-day convention is to bring together government authorities, local, and foreign players in one place to discuss the economic barriers to optimizing production of crude oil and natural gas in Egypt.
Press Release Update-1: Egypt Oil & Gas Hosts Roundtable for Industry Leaders
Egypt Oil & Gas hosted on Monday 7th of May a Production Optimization Roundtable—A premier event allowing leaders in the oil and gas industry to connect and collaborate on the issue of optimizing production. This event is part of a four-day convention and is unprecedented in its ability to bring together leaders both within the private as well as the public sector.
New $1.3bn Ain Sokhna Power Plant to Generate 1,300MW
A new power station opened in Egypt on Wednesday, adding 1,300 megawatts to the country’s electricity grid at a cost of EGP9.6 bn ($1.3bn). Egypt’s Electricity Minister Mohamed Shaker and Prime Minister Ibrahim Mahlab attended the official opening.
AAIB Approves $50m Loan to Sino Tharwa
The Arab African International Bank ( AAIB ) approves a loan worth US$50 million for an Egypt-based petroleum firm Sino Tharwa Drilling, a banking source with knowledge of the matter told Amwal Al Ghad Tuesday. The loan will go for financing Sino Tharwa's investment plans in the coming phase.
