Petrojet Finalizes Drilling Ahmed Hamdy Tunnel 2
President Abdel Fattah El Sisi has witnessed the ending of the drilling operations of Ahmed Hamdy Tunnel 2 implemented by Petrojet under the Suez Canal.
Suez Canal | Egypt Oil & Gas - Part 2
Petrojet Completes Major Projects in Suez Canal
Petrojet worked on the Suez Canal tunnels in Ismailia and other projects with the Armed Forces Engineering Authority.
More Oil Moved through Suez Canal
The movement of vessels carrying oil and petroleum derivatives through the Suez Canal has increased by 36% from 6.8m tons in December 2015 to reach 9.3m tons in December 2016.
Suez Canal Authorities Set New Fares for VLCCs
New toll rates have been set by Egypt’s Suez Canal Authority, as part of a six-month experiment, for the oil tankers that will be using the vital waterway do deliver any very large crude carriers (VLCCs)
Riyadh, Cairo to Create Joint Investment Fund of $16b
Riyadh and Cairo inked a memorandum of understanding (MoU) for the establishment of a joint investment fund, with a capital of $16b, to be created between Saudi Public Investment Fund and its entities, and the Egypti ...
Egypt’s Central Bank Records $27m Increase in Foreign Reserves
The Central Bank of Egypt (CBE) revealed that the foreign exchange reserves increased during March by approximately $27m, registering $16.561b, compared to $16.534b in February.
Egypt’s Balance of Payments Deficit Increased to $3.4b
Egypt’s balance of payments (BOP) deficit jumped 240% in the first half of the 2015/2016 fiscal year to reach $3.4b, up from $1b last year, due to falling tourism receipts, Suez Canal revenues, and transfers, the Cen ...
Saudi Pledges New Investments, Oil Support for Egypt
Saudi Arabia and Egypt signed an agreement that will renew kingdom's economic support for Cairo via oil assistance and additional $8b worth of investments in the next five years.
Nigeria Feels Squeeze of Oil Price Plunge, Africa Suffers Too
The halving of crude prices has struck at the heart of Nigeria' state finances, reveals Bloomberg, with no facet of the country's oil revenues left unscathed. 
