Egypt | Egypt Oil & Gas - Part 425
Update: Coal and Declining Oil Prices Help Reduce Fuel Subsidies, says El-Molla
“Oil subsidies during the current FY (to end June 30) amounted to 70 billion EGP, down from an estimated 100 billion EGP in the state budget,” Molla said.
Solar Station to Power Tourist Resort for $2.5 Mn
The Egyptian Resorts Company (ERC) signed a 27-year contract with KarmSolar company to construct a 2 MW solar station with investments amounting to $2.5 mn
State Sponsoring Private Sector Oil Firm to the Tune of $91 Mn
The biggest stated-run bank, National Bank of Egypt has agreed to secure $91 mn finances for one the private sector oil firms
Egyptian Nuclear Power, Natural Gas, Key Attraction Points for Russian Business
Major Russian companies are eager to invest in various Egyptian economic sectors, most notably the energy and natural gas sectors
Noble Group Provides Egypt with LNG
Commodities trader Noble Group will supply a single liquefied natural gas (LNG) cargo to Egypt in late June after winning a closed tender launched two weeks ago, trade sources said.
500 Meter Oil Spill in Red Sea
An oil spillage of about 500 meters in circumference has been spotted Saturday in the Red Sea’s northernmost city of Ras Gharib, Egypt.
GUPCO Re-establishes Ruined Platform in Hilal field
Gupco successfully completed the manufacture and installation of a new marine platform in the Hilal offshore field
First Austrailan LNG Shipment Arrives to Egypt
Egypt is set to receive its first liquefied natural gas (LNG) delivery from Australia on Wednesday, live ship-tracking data on Reuters Eikon showed.
