finance | Egypt Oil & Gas

EU Provides Egypt with $120.4 M Grant for Water, Energy Development: MOIC

Minister of International Cooperation Rania Al-Mashat has announced that the European Union (EU) has provided €117.9 million (around $120.41 million) of development financing to support the budget of the water and ...

El Molla, ITFC’s CEO Review Annual Work Program for Trade Finance

Minister of Petroleum and Mineral Resources, Tarek El Molla, met with Hani Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC), and they discussed the Corporation's annual work program for tr ...

Italy Holds Financing for Russian LNG Project

In response to Russia's invasion of Ukraine, Italy disclosed that it will put its share of financing on hold for the Arctic LNG 2 project led by privately-owned Russian gas producer Novatek, Reuters reported quoti ...

Iran’s NIOC to Issue Bonds Worth Rls 20,000 B to Finance Oil Projects

Masoud Karbasian, the CEO of the National Iranian Oil Company (NIOC) announced that the company said NIOC was planning to issue bonds worth IRR 20,000 billion to finance projects aimed at production enhancement an ...

El Molla Discusses Joint Cooperation with EU

The Minister of Petroleum, Tarek El Molla has discussed with Ivan Surkos, the European Union (EU) Ambassador to Egypt enhancing cooperation in different forms, including a joint project with Belgium’s Port of Antw ...

ITFC Provides $8 B to Petroleum Sector Since 2008

The petroleum sector’s dealings with the International Islamic Trade Finance Corporation (ITFC) have reached $8 billion over the last decade.

Egypt to Utilize its Geothermal Energy

Egypt plans to produce 20% of its electricity demand from renewable resources, including solar energy, wind power, and hydropower, by 2022, and increase it to 40% by 2035.

EGPC Eyes $750M Loan

The Egyptian General Petroleum Corporation (EGPC) is studying obtaining a $750 million loan from foreign lenders.

ANOPC in Talks for EGP 1.2B Refinery Loan

Assiut National Oil Processing Company (ANOPC) is negotiating with local banks in order to obtain a EGP 1.2 billion loan to part-finance the construction of a mazut hydrogen cracking complex.

Egypt, ITFC Sign $2B Petroleum Finance Deal

The International Islamic Trade Finance Corporation (ITFC) has agreed to finance $2 billion worth of petroleum products, as a part of a larger $3 billion agreement with Egypt's Ministry of Investment to fund the i ...

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