Egypt Pays $200 M in IOC Arrears, to Pay Additional $550 M by March
Egypt paied $200 million out of total $2.4 billion in arrears owed to foreign oil companies in January.
Egypt | Egypt Oil & Gas - Part 288
Electricity Exports Reach 747 GWH in 2015/2016
Egypt’s electricity exports reached 747 GWH during FY 2015/2016, while electricity imports recorded 54 GWH in the same FY, declining by 69.8% from the 179 GWH imports in 2002/2003.
Egypt to Add 20,000 MW in 2 Years
Egypt is implementing a national plan to add 20,100 MW by 2020, boosting Egypt’s total electricity capacity to 58,100 MW.
Total, Emak Extend Partnership
Total Egypt and Emak For Contracting Company have agreed to extend the strategic partnership from 2021 to 2038 in order to execute a number of new investment projects in Marsa Alam, Egypt.
Egyptian Cabinet Approves EBRD $200 M Loan
Egyptian Cabinet has approved the $200 million loan agreement with the European Bank for Reconstruction and Development (EBRD), which is set to finance the modernization of a number of selected gas infrastructure ...
GPC to Drill 18 Wells in 2018/2019
The General Petroleum Company (GPC) plans to drill 5 exploratory wells and 13 development wells, as well as maintain and complete 27 wells during FY 2018/2019.
Petroleum Products Output Reach 28.9 M MT in 2015/2016
Egyptian output of petroleum products has increased by 6.3% in 13 fiscal years (FYs) to reach 28.9 million metric tons (MT) in FY 2015/2016, compared to 27.1 million MT in FY 2002/2003.
Egypt is the 3rd Arab Country in Gas Consumption
Egypt has recorded the third place among Arab natural gas consuming countries, as it consumes 11.8% of the Arab natural gas total consumption.
Egypt’s Diesel Consumption Reaches 305,000 Tons/Week
Diesel consumption in the Egyptian market reached around 305,000 tons per week across all sectors, Abed Ezz El Regal, Head of the Egyptian General Petroleum Corporation (EGPC), said.
Fitch Rates Egypt’s IDR as Positive
Fitch Ratings reviewed the Outlook on Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) and changed it to Positive from Stable, as it affirmed Egypt’s IDR at 'B'.
