Egypt | Egypt Oil & Gas - Part 421
Saudi’s Acwa to Fund Dayrut Power Plant
Saudi Arabian company Acwa Power agreed with three international institutions to fund the power plant of Dayrut city in Beheira, Egypt. The project is expected to generate 2,250 MW of energy, with investments of $2.1b.
Hamdi Abdel Aziz: No Truth to Threats From Oil Companies
In an official press release from the Ministry of Petroleum, Hamdi Abdel Aziz, the Ministry of Petroleum’s official spokesman denied what was published in a newspaper about threats made by four oil companies to withd ...
New Promotions in the Petroleum Sector
The Minister of Petroleum and Mineral Resources, Tarek El Molla, approved the following list of transfers and promotions for the heads of state companies in the petroleum sector.
EGPC, ADNOC Negotiating Fuel Shipments and Payments
The EGPC is currently in negotiations with Abu Dhabi National Oil Company (ADNOC) for shipments of petroleum products and payment facilitations. El Molla: Egypt “Suffering” from Subsidies
Egyptian Petroleum Minister, Tarek El Molla, said that Egypt is “suffering” from fuel subsidies and that funding for subsidies are better spent on other areas, such as health and education.
Libyan Oil Pipeline Hit by Blast
A major Libyan oil pipeline south of Ras Lanuf was hit with an explosion on December 14th.
Dana Gas to Cut Costs at Home, Boost Investment in Egypt
UAE's Dana Gas announced its decision to slash its head office workforce by 40%, and cut administrative costs by 50%. The move is part of the evaluation and cost cutting process, which the company adopted in 2015.
Egypt to Receive $99m Loan from Kuwait
The Egyptian government and the Kuwait Fund for Arab Economic Development (KFAED) have finalized an agreement for a $99m (KWD 30m) loan for Egypt. The loan will be directed towards funding a project that will expand ...
