Egypt | Egypt Oil & Gas - Part 397
Scatec Renegotiates PPA with Egypt
A group of developers, including Norway’s Scatec Solar, are renegotiating the terms of their power purchase agreements (PPA) with the Egyptian government in an effort to keep them on the existing timetable.
Kuwaiti Fund Lends $108m for Helwan Power Plant
The Energy and Environment committee to the Egyptian house of representatives approved a $108m loan from the Kuwaiti Fund for Arab Economic Development (KFAED) to fund South Helwan power plant project
RockHopper Buys Egypt’s Beach Petroleum for $11.9m
UK’s RockHopper Exploration bought Beach Petroleum (Egypt) Pty Limited for $11.9m. The acquisition was funded by the company's existing cash resources with Beach Petroleum retaining the majority of of the Egyptian Ge ...
EGAS Tenders 9 Concessions for Exploration
The Egyptian Natural Gas Holding Company (EGAS) will issue a tender for discovery and exploration of oil and gas in 8 to 9 sectors in deep sea waters off the shore of the Mediterranean. This will bring the total numb ...
Egypt to Receive First IMF Installment in September
The $12b loan facility that the International Monetary Fund (IMF) has preliminarily agreed to provide for Egypt will be divided into three tranches, each worth $4b, with the first expected to be paid out as early as ...
Egypt’s Fuel Subsidies Fell 23%
Egypt's spending on petroleum subsidies fell by 23% in 2015/16 to EGP 55b ($6.27b) from a targeted EGP 61b, Head of the Egyptian General Petroleum Corporation (EGPC),Tarek al-Hadidi said, citing a decline in global o ...
Rosneft Receives Payment for First LNG Cargo to Egypt
Russian state-owned oil company Rosneft has received $15.6m for its first ever supply of liquefied natural gas (LNG) to Egypt under the contract with Egyptian Natural Gas.
EBRD Offered to Fund SUMED Project
The European Bank for Reconstruction and Development (EBRD) has offered to fund the Arab Petroleum Pipelines Co. (SUMED) with $100m, based on a 10-year time-frame, to build a pier and petroleum products trading cente ...
