investment | Egypt Oil & Gas - Part 19

Egypt to Reduce its Debt to IOCs to $2.9bn

Sherif Ismail, Egypt’s Petroleum Minister announced the country’s plan to reduce its debt to foreign oil companies to $2.9 billion from $3.5 billion by the end of August, with a plan to repay the rest by the end of 2 ...

EGPC: New Petroleum Projects Exceeding EGP2.6 Bn

EGPC sources revealed to Al-Mal newspaper that six new investment projects were now on the table to develop a network for transporting petroleum derivatives and fuel all over the country at an expected cost of more t ...

Ministry of Petroleum: Egypt to Sign 9 Agreements Worth $2.2bn

Nine petroleum agreements of about $2.2 billion will be finalized soon, according to a Ministry of Petroleum. The nine agreements include an agreement with the Tunisian HBS international oil company with investments ...

Egypt’s Debt to Foreign Oil Companies Up by 6.1%

Egypt's debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday.

SIDPEC Invests $670m in Petrochemical Industry

Egypt's Sidi Kerir Petrochemicals Co – Sidpec is currently in charge of a number of new projects with investments estimated at US$670 million, chairman Ahmed Helmy stated Monday.

DEA to Pump $274m Investment into its Concessions

German company DEA plans to invest about $274m during the coming fiscal year to increase oil and gas production rates from its concessions in the Gulf of Suez and Kafr el-Sheikh.

Petroleum Minister: Current Projects in Egypt Worth $9.4bn

The petroleum sector is currently implementing projects worth $9.4 billion, in addition to projects that have been completed, Egypt's petroleum minister said on Monday.

Egypt Foreign Reserves Fall to $19.5Bn

Egypt's foreign currency reserves edged down to $19.559 billion at the end of May from $20.5 billion the previous month, the central bank said on Sunday.

Iran: OPEC Agrees Oil Price Still Unfair

Minister of Petroleum Bijan Zangeneh says Iran is not satisfied with current oil prices after OPEC decided to maintain production levels unchanged at its Friday meeting in Vienna.

$45bn to be Pumped into Egypt’s Renewable Sector

Investment Minister Ashraf Salman said it is expected that investments worth $45bn will be pumped into Egypt's new and renewable energy sector over the next 10 years, state agency MENA reported on Monday.

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