gas prices | Egypt Oil & Gas
Trump to Draw on Petroleum Reserves to Counter Price Hikes
President Donald Trump announced that his administration will tap the US Strategic Petroleum Reserve (SPR) to combat skyrocketing gas prices fueled by the ongoing conflict with Iran, according to CBS News. The move, c...
Gazprom Warns of 60% European Gas Price Hike
Russia’s state-owned natural gas company Gazprom warned that this winter, European gas prices might rise by 60% to more than $4,000 per 1,000 cubic meters as the company’s own export and production continu...
EFIA Proposes Applying “Gas Dollar” Mechanism
The Egyptian Federation of Investors Associations (EFIA) will prepare a proposal for the Ministry of Finance (MoF) in order to determine gas prices for manufactures through a new mechanism named “gas dollar” that will...
Negotiations Begin for Egyptian Energy Exchange Market
The Ministry of Petroleum and the Egyptian Exchange have begun negotiations regarding the creation of a natural gas exchange market, banking sources told Al Mal. The talks aims to establish an energy-oriented futures ...
Paper Manufacturing Division Seeks More Gas
The Paper Manufacturing Division at the Egyptian Chamber of Chemical Industries asked the Ministry of Petroleum and the Ministry of Industry to double the amount of gas pumped for paper factories without increasing pr...
Egypt to Revoke Gas Rate Cuts or Iron, Steel
The Egyptian Government backed from its decision to cut the gas prices for iron and steel factories from $7 per 1m British Thermal Units (BTU) to $4.5 per 1mBTU, reported Daily news Egypt. The government had announced...
Egypt to Keep Gas Rate Cuts for Iron, Steel
The Egyptian Minister of Industry and External Trade, Tarek Kabil, stated that Egypt will maintain the decision to reduce gas prices for steel factories that the government had planned to apply in September 2016, repo...
Egypt Raised Pump Prices
The Egyptian Ministry of Petroleum increased petrol price early November in a move to alleviate fuel subsidy expenditure within the country’s economic reform program. The government has implemented the new price...
