Investors in an Egyptian petroleum refinery project, led by Citadel Capital and Qatar Petroleum, have secured $3.7 billion in financing for the facility, the project operator said.

Citadel Capital, the leading private equity firm in the Middle East and Africa with US$ 9 billion in investments under control, issued today the following statement regarding revised terms of sale for the National Petroleum Company Egypt.

Egypt's Citadel Capital has postponed plans for the initial public offering (IPO) of its electricity and natural gas distributor Taqa Arabia because of lower valuation prospects, according to a senior executive.

Citadel Capital Corp. may sell at least one investment by year-end and list one of its oldest energy units by June, the chief financial officer of Egypt’s largest publicly traded private equity firm said.

Citadel Capital, the leading private equity firm in the Middle East and Africa with $8.3bn in investments under control, announced today the International Finance Corporation (IFC) is investing $120m in the Egyptian Refining Company (ERC).