EGAS Decreases Gas Imports by 7%

• Sunday, 14th February 2016
• by Egypt Oil & Gas

The Egyptian Natural Gas Holding Company (EGAS) decreased the volume of imported gas by approximately 7%, to reach 650 mcfd compared to 700 mcfd in January. The decline was due to the decrease in domestic consumption,...

Moody’s: China, Saudi Support Improve Egypt’s Financial Standing

• Wednesday, 3rd February 2016
• by Egypt Oil & Gas

Saudi Arabia’s recent pledge of $20b worth of petroleum products to Egypt over the coming five years, in addition to China’s pledge of $1.7b in loans to Egypt’s Central Bank (CBE) and The National Ba...

CBE Secures $400m for Energy Imports

• Wednesday, 3rd February 2016
• by Egypt Oil & Gas

The Central Bank of Egypt (CBE) opened a commercial letter of credit of $400m for the Egyptian General Petroleum Corporation (EGPC). The amount will be directed towards paying for imports of petroleum products and liq...