Suez Canal | Egypt Oil & Gas - Part 2

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.

Ministry of Petroleum: Petrochemical Plants to be Launched in the New Suez Canal Annex

The Ministry of Petroleum announced that it is working on preparing feasibility studies for a number of refining and petrochemical projects that will be included the new Suez Canal Axis Development plan, reported Dai ...

Minister of Petroleum: Natural Gas Linked to New Ismailia

Sherif Ismail, Minister of Petroleum and Mineral Resources, said in a press release that Sinai Gas had completed the natural gas connection to the city of New Ismailia.

EGPC, Suez Canal, CBE Drowning in Dues

Tax arrears from the Egyptian General Petroleum Authority (EGPC), Suez Canal and the Central Bank of Egypt (CBE) have reached EGP 35bn, Tax Authority Head Abdel Moneim Matar said on Tuesday.

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