Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Egypt | Egypt Oil & Gas - Part 196
Electricity Consumption Falls by 2.59% YOY
Egypt’s electricity consumption decreased by 2.59%, recording 11.3 megawatts per hour (MWh) in February 2019, compared to 11.6 MWh in February 2018.
Egypt Diesel Output Declines by 11.83% YOY
Egypt’s diesel production decreased by 11.83% YOY in March 2019, recording 529,000 tons, compared to 600,000 tons consumed in March 2018.
GUPCO Deal to Add 70,000 b/d to Dragon Oil Portfolio: CEO
The $600 million transaction is a part of Dragon Oil's $13 billion expansion plans, of which $500 million are allocated for acquisition transactions in 2019.
Egypt Files 75 Cases Against Petroleum Manipulators
The Egyptian supply and trade police was able to monitor movements in the Egyptian market and to file 75 cases against petroleum products and butane cylinders manipulators in four days.
Ministry of Petroleum Issues New Promotions and Transferals
The Egyptian Ministry of Petroleum issued new promotions and transferals of company Heads with the aim to exchange expertise and support production sites of human talents and efficiencies.
Egyptian Butane Imports Increase by 10.58% YOY
Egyptian butane imports grew by 10.58% YOY, reaching 302,000 tons in March 2019, compared to the 273,100 imported in March 2018.
Misr Petroleum Inaugurates Kom Aushim Filling Station
The station's storage capacity increased to include 80-octane gasoline storage tank and 92-octane gasoline storage tank with 22,500 liters of storage capacity each.
Eni Completes Zohr Gas Processing Unit
Italian Eni finished establishing all the gas processing units for Zohr natural gas field in May 2019, boosting its processing capacity to 3.2 billion cubic feet per day (bcf/d) of gas.
Egypt to Turn 40,000 Vehicles into Gas-Powered Ones by FY 2019/20
Egypt will finish establishing 17 new filling stations that will provide cars with natural gas by the end of June 2020, in respect to an expansion project that aims to turn vehicles into gas-powered ones.
