Electricity Ministry Delays IPOs
The Egyptian Ministry of Electricity and Renewable Resources has delayed the initial public offerings of three firms onto the Egyptian Exchange until electricity subsidies are lifted.
Egypt | Egypt Oil & Gas - Part 271
SDX Starts Initial Drilling at South Disouq
SDX Energy Corporation started the initial drilling operations at its Ibn Yunus-1X exploration well located at South Disouq field.
Egypt Pumps 250,000 Butane Cylinders per Week
The Egyptian General Petroleum Corporation (EGPC) recently succeeded in pumping 250,000 butane cylinders during the past week to cover the demands of the commercial and residential sectors across the country.
ADES Borrows $450 M to Finance Acquisitions
ADES International Holding Company will borrow a syndicated loan worth $450 million over five years in order to finance acquisitions following the company’s 2017 initial public offering.
Gastec Owns 52% Market Share in Vehicles’ Natural Gas Sales
The Egyptian International Gas Technology (Gastec) owns 52% of the market share of the total natural gas sales for cars.
Zohr Mechanical, Electrical Installation Close to Completion
The mechanical and electrical installation works for Zohr field’s first and second phases will soon be completed.
EMC to Renew Contract for LNG Factory in Angola
The Egyptian Maintenance Company (EMC) successfully sealed a contract for providing operational support for a liquefied natural gas (LNG) factory in Angola for the fifth consecutive year in 2017.
PAS Predicts 10-15% Business Growth
Petroleum Air Services is expected to increase its business volume by 10-15% in 2018 as a result of the expansion of exploration and production activities in the Eastern Mediterranean.
Ministers Lay Foundation Stone for Two Projects in Damietta
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, along with the Minister of Transport, Hisham Arafat, laid the foundation stones for two projects in Damietta Port.
Electricity Generation, Consumption Slightly Increase Y.o.Y
Egypt’s electricity generation increased by around 0.67% year-on-year to reach 15 kWh in January 2018, compared to 14.9 kWh in January 2017.
