Egypt | Egypt Oil & Gas - Part 392
Egypt to Lift Power Subsides by 2019
Sources with the Egyptian government stated that no budget was allocated for electricity subsidies in Egypt starting from fiscal year 2018/2019.
Shell Cut Burullus, Rasheed Investments
Royal Dutch Shell reduced its investments in Burullus and Rasheed gas fields to $158.9m for maintenance and operating expenses over the current fiscal year.
IMF Board to Review Egypt’s Loan
The $2.5b first tranche of the IMF's $12b loan will be made available to Egypt after the IMF’s executive board reviews the program, with the country’s funding package be presented to the fund’s executive board by the ...
Africa to Import 30m Tons of Gas by 2025
Africa could become a significant global market for imported liquefied natural gas (LNG) by 2025, with Egypt the main driver, as more countries eye gas-to-power projects.
EGPC to Import 665,000t of Gasoil
The Egyptian General Petroleum Corporation (EGPC) will receive up to 665,000t of gasoil over 19 cargos. The shipments will be delivered in November.
APICORP to Lend $100m to EGPC
The Arab Petroleum Investments Corporation (APICORP) arranged a $100m Murabaha Financing Facility for Egyptian General Petroleum Corporation (EGPC)
Power Plants Consumed 3.4bcf/d of Gas
The Egyptian Ministry of Petroleum announced that the gas consumption of electricity power plants decreased to 3.4bcf/d.
Edison to Drill 3 Wells in Egypt
Edison's Commercial Manager, Tarek Shalaby, stated that the Italian firm will start drilling 3 new wells in its gas concessions in Egypt including South Edco, Abu Qir, and North West El Gendy during January 2017
