ERC | Egypt Oil & Gas

ERC Contributes 80% to Qalaa Holdings Revenues in 2022

Qalaa Holdings's consolidated revenues reaching EGP 26.981 billion in the second quarter of 2022, making a 165% year-on-year (YoY) increase.

Qalaa Holdings Revenues Grow by 27% YoY Driven by Energy Subsidiaries

Qalaa Holdings announced strong revenue growth of 27% year-on-year (YoY), recording EGP 45.8 billion in 2021, through the strong performance of its subsidiaries, especially the Egyptian Refining Company (ERC) and ...

Qalaa’s Consolidated Revenues Increase 37% YoY

At ERC, despite a 22-day stoppage due to a scheduled maintenance in 2Q21, the refinery’s revenues increased by 52% year-on-year on the back of recovering market conditions.

El Molla: Egypt to Achieve Self-Sufficiency of Petroleum Products by 2023

The Minister of Petroleum and Mineral Resources, announced that Egypt will achieve self-sufficiency of petroleum products especially octane by 2023.

El Molla Checks Trial Operation of New High Value Petroleum Products Complex

The Minister of Petroleum and Mineral resources, Tarek El Molla, has checked through a visit the trial operation of the new complex project for producing high value petroleum products owned by the Egyptian Refiner ...

Egypt Invests EGP 1 T in Upstream Projects

The Ministry of Petroleum invests one trillion Egyptian pounds in the Oil and Gas production projects and EGP 460 billion in petrochemicals and refining projects.

ERC Inks Pet Coke Deal with ACC

Arabian Cement Company (ACC) signed a Petroleum Coke (pet coke) deal with Egyptian Refining Co (ERC), which states that ERC should supply 300,000 tons of pet coke per year to ACC.

Qalaa Holdings Explains Reduced Stake in ERC

Qalaa Holdings has confirmed in a market statement that its stake in the Egyptian Refining Company (ERC) has decreased to 13.14% because other shareholders have underwritten additional equity.

Qalaa Holdings Receives $120 M for ERC

The final tranche was requested by ERC's project finance lenders and is divided into $70 million for capital increase and $50 million for shareholders' loan.

Qalaa Holdings’ Revenues to Exceed EGP 90 B in 2020

The company will gain between EGP 50-55 billion from the Egyptian Refining Company (ERC), which is set to start operating in Q3 2019.

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