petroleum ministry | Egypt Oil & Gas - Part 3

Egypt to Reduce Energy Subsidies to Under $8b in FY2016

The Egyptian government will reduce energy subsidies to less than $8b this fiscal year, reported the Cairo Post. Egypt is working to balance its public spending as the country faces falling reserves and fewer loans an...

Ministry of Petroleum Offers Incentives to Investors

In a statement made to Egypt Oil & Gas, a source at the Petroleum Ministry revealed that new incentives were being enacted for the coming period to attract foreign investors. Of these measures, one of the most imp...

Energy Subsidies to Decrease by 5% This Year

A source at the Petroleum Ministry told Egypt Oil & Gas that the Egyptian government only aims to reduce energy subsidies by 5% during the current budget of this fiscal year. The percentage is set at a lower than ...

Ministry of Petroleum to Boost Fuel Supply for Eid

Tarek El Molla, Egypt’s new Oil Minister,  announced that the ministry will ensure additional quantities of diesel fuel and gasoline are supplied to the market especially during the feast days, with a focus on h...

Tarek El-Molla to be Egypt’s New Petroleum Minister

Tarek El-Molla has been appointed as the new Minister of Petroleum of Egypt, Egypt Oil & Gas has learned. The announcement was made this morning at the presidential palace. As Sherif Ismail appointed his entire c...

Fertilizer Factories Demand Gas From Ministry After Production Stoppages

Muhammad Fayez, director of a fertilizer factory in Helwan, said that a comprehensive memorandum will be sent to the Ministry of Petroleum with all the gas needs of fertilizer factories for the current summer period. ...

New Prime Minister Sherif Ismail Meets with President Sisi, Ordered to Appoint New Cabinet Within Week

President Abdel Fattah El-Sisi met with Sherif Ismail, the former petroleum minister, at his palace on Saturday, Egypt Oil & Gas has learned. Earlier in the day, Prime Minister Ibrahim Mahlab and his entire cabin...

Sherif Ismail Meets with Industry Heads, Outlines Reformist Agenda

Sherif Ismail, Minister of Petroleum and Mineral Resources, met yesterday with the First Undersecretary of the Ministry as well as other oil sector heads to determine the course they would take in this current stage, ...

UPDATE: BW Gas Finalizes Deal to Provide Egypt with Second FRSU

UPDATE: On Monday, EGAS Chairman Khaled Abdel Badie and BW Gas CEO Carsten Mortensen signed the contract for Egypt’s second FRSU, the Cairo Post reported. Minister of Petroleum Sherif Ismail was in attendance at...

Petroleum Ministry to List 3 Government Oil Companies on EGX in 2015

Egyptian Minister of Petroleum Sherif Ismail announced that Egypt will choose a local investment bank during the third quarter of the current year to list 3 companies on EGX before the end of 2015, reported Reuters. “...

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