Egypt | Egypt Oil & Gas - Part 345
Sinopec Refutes Risks of Investing in Egypt
Sinopec replied to rumored concerns that the company has bought a 33% stake in Apache’s assets in Egypt for $3.1b in 2013.
Finance Minister to Meet AIIB Delegation
Egyptian Minister of Finance, Amr El Jarhi, will meet the Asian Infrastructure Investment Bank (AIIB)'s Chairman for Policies and Strategies, Uh Akim von Amsberg, and his accompanying delegation.
IMF Supports Egypt’s Fuel Subsidies Removal
International Monetary Fund (IMF) backs Egypt's plans to remove fuel subsidies within three years and push inflation down to single digits.
Eight Companies Bid for Electricity Linkage with Saudi Arabia
The switch stations in Egypt and Saudi Arabia will be linked by land cables, in addition to a submarine cable of 500KV, which is to cross the Gulf of Aqaba at a length of 16km.
Roseneft Signs Cooperation Agreement with Eni
Russia's Roseneft signed an agreement with Eni to expand hydrocarbon cooperation.
SUMED Signs $300m Deal with NBK
Sumed Company and National Bank of Kuwait (NBK) signed a $300m agreement to finance part of a project to store petroleum products and natural gas in Ain Sukhna port.
New Gas Fields to Save Egypt $3.6b
Egypt also plans to make a debt payment worth $750m to IOCs on the 1st of June.
El Molla denies news on Fuel prices Increase
Minister, El Molla, explained that subsidies will go to citizens who need it.
