Egypt | Egypt Oil & Gas - Part 409
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 ...
Developers to Withdraw from Egypt’s FiT Program
Up to 35 solar energy firms are considering withdrawing from the first phase of Egypt’s Feed-in Tariff (FiT) program due to delays, currency risks, and government's insistence on domestic arbitration, as developers a ...
IMF Agrees to $12b Loan to Egypt
The International Monetary Fund (IMF) has agreed to lend $12b to Egypt to be paid out over three years, yet the agreement is subject to approval by IMF’s Executive Board in few weeks, according to IMF's website.
Egypt Mulls $3b-$5b Eurobonds in 2016
Egypt requested proposals to issue $3b to $5b bonds in the current fiscal year as part of the government's efforts to shore up reserves and end a foreign-currency shortage that is hampering economic growth.
Siemens Ships Generator to Beni Suef Power Plant
Siemens has shipped the modules for the first heat recovery steam generator (HRSG) for the company’s Beni Suef gas-fired power plant mega project in Egypt.
Egypt to Collect EGP 70b in Tax Disputes
The Egyptian government approved a draft bill that would settle over 6,000 tax dispute cases worth about EGP 47b ($5.29b), in addition to 150 civil disputes. The total value of uncollected tax arrears has reached EGP ...
Egypt’s FX Reserves Dropped to $15.5b in July
Egypt’s foreign-currency reserves dropped by 11% in July and net international reserves reached $15.5b, after authorities repaid about $2b in debt. This is the biggest drop in FX reserves that Egypt has faced in 16 y ...
MENA Expands its LNG Import Facilities
The MENA region is forecast to become the world’s second-largest gas-importing area by 2040, as the countries invest around $10.3b in LNG-importing facilities.
