The Egyptian Ministry of Petroleum and Mineral Resources confirmed that there will not be any fuel price hikes or volume capping with the trail run of the second phase of of fuel smart cards.
The higher committee for transferring Egypt into a regional energy hub held its first meeting chaired by the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla.
Egypt's Ministry of Petroleum owes $1.35b in outstanding dues to Royal Dutch Shell for equity production from Rashid and Burullus fields’ concessions.
The Egyptian Ministry of Petroleum and Mineral Resources paid around $100m payment to IOCs in outstanding dues for buying their share of production of crude oil and natural gas produced from their concessions in Egypt,
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.
The Egyptian Ministry of Petroleum and Mineral Resources has paid EGP 1b to Italian Eni, as part of the outstanding dues for for the company's equity production.