Egypt Doubles Oil Hedges in FY 2020/21

• Thursday, 10th December 2020
• by Editorial Team

Egypt has almost doubled its oil hedges during the fiscal year (FY) 2020/21 as a precautionary measure against the possible increase of oil prices, Finance Minister Mohamed Maait told Bloomberg in an interview. Maait ...

Petroleum Products Subsidies Fall by 46% in Q1 FY 2020/21

• Monday, 30th November 2020
• by Editorial Team

Petroleum products subsidies fell by about 46% during Q1 of the current fiscal year (FY) 2020/21, Minister of Petroleum and Mineral Resources, Tarek El Molla said according to the General Trade Union for Petroleum Wor...

Agiba, Pharaonic Petroleum to Boost Investments for FY 2020/21

• Monday, 24th February 2020
• by Editorial Team

Agiba Petroleum Company and Pharaonic Petroleum Company (PHPC) both announced to boost their investments during Fiscal Year (FY) 2020/21, according to a press release. Agiba is pumping $577 million of investments duri...

Protocols of Cooperation to Settle Decades-Old Financial Debts

• Thursday, 20th February 2020
• by Editorial Team

In an effort to end the financial debts accumulated for more than 30 years, the Ministries of Electricity and Renewable Resources, Petroleum and Mineral Resources, Finance, and the General Public Sector signed three p...