cabinet | Egypt Oil & Gas - Part 6

EGPC to Supervise Development in Ras Fanar

The Egyptian Cabinet granted preliminary approval for the Egyptian Natural Petroleum Corporation (EGPC) to supervise the development of the Ras Fanar area.

Cabinet Extends SUMED’s Mandate

The Egyptian cabinet extended the Arab Petroleum Pipeline Company’s (SUMED’s) mandate for an additional 27 years.

MoF: No Increase in Fuel Prices until Next July

There will be no further increase in fuel prices during the fiscal year (FY) 2017/18, according to the Egyptian Minister of Finance.

Cabinet Approves Six Agreements between EGPC and IOCs

The Egyptian cabinet met on the 25th of May and approved six agreements between the Egyptian General Petroleum Company (EGPC) and a number of unnamed IOCs for oil exploration in the Western Desert.

Egypt Increases Smart Card Program Participation

E-Finance's Smart Cards Manager, Khaled Abdel Ghany, stated that 12,000 Egyptian citizens recently applied for fuel smart cards.

Egypt’s Private Sector to Start Importing Gas by October

Egypt's Cabinet decided to regulate importing gas by private sector starting from October.

Electricity Ministry to Report Renewable Projects to Cabinet

The Egyptian Ministry of Electricity and Renewable Energy will present a detailed report to the cabinet explaining the situation of new and renewable energy projects.

Ministry of Electricity Asked for Extra Budget

The Egyptian Ministry of Electricity presented a memorandum to the Cabinet asking to increase allocations after the EGP devaluation.

Egypt to Review Pre-Devaulation State Deals

The Egyptian Cabinet approved a governmental commission to review tenders and contracts between the government on one hand and companies and factories on the other hand that were prior to EGP devaluation.

Egypt’s Cabinet Confirmed Fuel Exempted from VAT

The cabinet confirmed that Egypt’s petroleum based products are to be exempted from the value-added tax (VAT), which is yet to be presented to the parliament.

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