Power Prices to Remain Stable

• Tuesday, 8th November 2016
• by Egypt Oil & Gas

As a result of the EGP devaluation, the Egyptian Ministry of Electricity will incur about EGP 100b yearly, EGP 50b came due to the repricing of fuel used in power generation. Yet, there will be no increase in the sel ...

Egypt Devalued The EGP

• Thursday, 3rd November 2016
• by Egypt Oil & Gas

Egypt has devalued its currency by 48%. The devaluation pegged the Egyptian pound at 13 to the dollar, up from nearly nine on the official market

El Sisi: Egypt to End Its FX Exchange Problem

• Tuesday, 23rd August 2016
• by Egypt Oil & Gas

Egyptian President, Abdel Fattah El Sisi, stated that Egypt would end its dollar exchange rate problem, as the country can’t put off tough measures to revive the economy, while the UAE offer a $1b deposit to the Cent ...

Nigerian President Rejects Currency Devaluation

• Monday, 22nd February 2016
• by Egypt Oil & Gas

Nigeria's President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per $1 in ...