Egypt | Egypt Oil & Gas - Part 419
Egypt’s EFG Hermes Mulls Renewables Investments Rise
Egypt-based investment bank EFG Hermes is planning to increase the investments it manages in renewable energy from the current $831m to between $1.7 and $2.3b in the next two years.
Assiut Oil Refinery Seeking EGP 750m for Restructuring
Assiut Oil Refinery has addressed banks to obtain a loan worth EGP 750m to finance its restructuring plan and increase production capacity.
Oil Ministry Eyes Foreign Investment Rise by $1b
Egypt's petroleum ministry is eyeing larger foreign investments in drilling and exploration projects to amount to $8.5b by the end of fiscal year 2015-16, up by $1b.
Egypt Reconsiders Lowering Gas Price for Factories
The Egyptian government had announced that it is reconsidering its decision to sell natural gas to the iron factories at $4.5 per 1mBtu instead of the current price of $7 per 1mBtu, in order to reduce the price of st ...
Dana Gas Records 50% Profit Decline in Q1
Abu Dhabi-listed company Dana Gas, which produces natural gas in Egypt and Iraq, reported a 50% decline in profit in Q1 as sales slumped due to lower hydrocarbon prices and 12% output fall.
Egypt Negotiating South Korean $3b Investment
South Korea aims to increase its investments in Egypt to $3b mainly in renewable energy, electricity, and desalination.
Rosneft to Ship LNG to Egypt
Egypt will receive the first of nine agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft in May, an official at the state gas board Egyptian Natural Gas Holding Company (EGAS) told the press.
Energean Completes Survey in West Komombo Concession Area
Greece's oil producer, Energean Oil & Gas has completed a new 2D seismic s urvey over the West Baliana interior rift basin in the Northern region of the West Komombo-Block 3 concession area, onshore Egypt.
