investment | Egypt Oil & Gas - Part 24
Egypt Gas Company Records Losses of EGP 48.6m
State owned Egypt Gas company, an affiliate of the Egyptian Natural Gas Holding Company (EGAS), recorded losses of EGP 48.6m ($6.2m) during the first 6 months of 2015, in comparison to the recorded profits of EGP 25.2...
EDEPC to Invest $125m in Upgrading its Stations
East Delta Electricity Production Company (EDEPC) is working on obtaining a loan worth $125m, which will be used to upgrade the company’s power stations, reported Al Mal. The loan will be used to install mobile ...
Sisi: Egypt is Committed to Paying Off Debt to IOCs
Egyptian President Abdel Fattah al-Sisi said that his government is “committed” to paying up debts to oil and gas companies “operating on its soil,” reported Aswat Masreya. The statemnt comes a...
Rockhopper Exploration Buys Beach Petroleum Egypt
Beach Energy announced the sale of its subsidiary in Egypt “Beach petroleum” to Rockhopper Exploration, reported Oil voice. Beach Petroleum’s core asset in Egypt is a 22% interest in the Abu Sennan C...
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 20...
EGPC: New Petroleum Projects Exceeding EGP2.6 Bn
EGPC sources revealed to Al-Mal newspaper that six new investment projects to develop a network for transporting petroleum derivatives and fuel all over the country at an expected cost of more than EGP 2.6 billion wil... 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 o...
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...
