Egypt | Egypt Oil & Gas - Part 380
Egypt to Pay EGP 60b in Power Subsidies
The cost of Egypt's power subsidy has increased from EGP 30b to EGP 60b for the current fiscal year 2016/2017.
IOCs to Expedite E&P in Egypt
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that international oil companies (IOCs) have agreed to speed up development of new discoveries.
IMF Approved Egypt’s $12b Loan
The International Monitory Fund (IMF) approved a 3-year $12b loan to Egypt on the November 11.
Egypt to Keep Gas Rate Cuts for Iron, Steel
Egypt will maintain the decision to reduce gas prices for steel factories that the government had planned to apply in September 2016.
El Molla Met with IOCs
Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, met with heads of International Oil Companies (IOCs) to discuss possible investments in Egypt
Shell to Hold Leadership Forum in Hurghada
Shell Lubricants Egypt will gather more than 300 experts to discuss energy future challenges on the global level during Shell's fifth technology leadership conference that will be held in Hurghada from November 17-20 ...
FiT Asked for $8.5m Guarantee
The Egyptian Ministry of Electricity and Renewable Energy asked for $8.5m guarantees from each company in the first phase of renewable energy purchasing Feed-in Tariff (FiT) program.
Infinity, Scatec Solar Join FiT Phase II
Infinity Solar and Scatec Solar proposed building three renewable energy projects under phase two of the Feed-in Tariff program.
