Government negotiates with Apache and British Gas to gas prices adjustments
The Ministry of Petroleum is engaged in negotiations with British Gas, Apache, and other foreign companies to adjust gas prices for new projects linked with production in the near future. A senior official with the read the rest…
Read More →EGPC offers tender for loan this month to pay a portion of dues to foreign oil and gas companies
Petroleum ministry aims to pay $2bn-3bn of foreign dues by year-end
Read More →At least 4 solar power stations to be established for government institutions to work with renewable energy – tenders out for 4 more : Onera chairman Wael El Nashar
Amid Egypt’s energy crisis and worsening power outages, the government has indicated that new and renewable energy could be part of the solution. The Daily News Egypt conducted an interview with Wael El Nashar, board read the rest…
Read More →General Electric wins contract to supply 200 overland pumps for BAPETCO
GE has also launched several major projects to generate power
Read More →Barclays raises finance portfolio for small and medium enterprises to EGP 1.2bn
Bank plans six new branches over next two years
Read More →British Gas to finish connecting 500m cubic feet per day in Al-Borolos fields
Egypt’s total production will increase to 5bn cubic feet by year end, says EGAS official
Read More →Investment in petroleum sector linked to Egypt’s political orientation: Former minister
Former petroleum minister Osama Kamal and former EGPC vice president Medhat Youssef talk to Daily News Egypt about the problems in Egypt’s petroleum industry
Read More →Egypt to reimburse share of foreign partner’s oil and gas revenues at $700m a month: Tarek El Molla
EGPC, petroleum sector companies register EGP 72.2bn profit during FY 2013/2014
Read More →Gulf of Suez project exporting 270,000 tonnes of PET annually: EGPC official
The Polyester Producing Company, subsidiary of the Egyptian Petrochemicals Holding Company, exports 270,000 tonnes per year of polyethylene terephthalate (PET) while 150,000 tonnes of the product are provided to the local market, according to an read the rest…
Read More →New mineral resources law to be ratified by President within days
25% of rent revenues directed toward developing governorates
Read More →Government to offer bids to generate 8GW from coal and renewable energy: Salman
The government hopes to offer two tenders to generate 8GW of electricity from new and renewable energies, said Minister of Investment Ashraf Salman on Tuesday. He added that there are also plans to construct power read the rest…
Read More →Upcoming period is busy time for petroleum industry: Petroleum minister
Although there will be a $2bn in debts to foreign partners by year end, ministry has paid back $11.2bn to foreign companies during FY 2013/2014
Read More →RWE injects $300m into its area of concession for FY 2014/2015
Germany’s RWE, a Suez Oil Company (SUCO) partner, has increased investment allocations for the 2014/2015 fiscal year to approximately $300m compared to the previous $218m, according to a company official. The new investments will be read the rest…
Read More →Fuel distribution monitoring via GPS and smart card system reduces smuggling by 60%
The official added that EGPC has recently faced difficulties in monitoring fuel distribution and following up on shipment arrivals at depots and then to stations.
Read More →German government to sell stake in energy giant RWE to Russian billionaire
Winner of the RWE bid is the second richest man in Russia
Read More →Tanmeyah Company aims at EGP 30m profit by year’s end
Tanmeyah buys new equipment to offer more services to oil companies
Read More →Poor technical conditions in power stations worsen due to outages and wasted fuel: EGAS official
Petroleum ministry supplies fuel to electricity worth approximately $72m per day
Read More →Second phase fuel smart-card distribution to save EGP40bn: Former petroleum minister
The government has so far distributed 2.6m out of the targeted 4.5m smart cards, said Tareq Al-Mula, chairman of the Egyptian General Petroleum Company (EGPC).
Read More →Company invests EGP 2bn in construction of hypermarket: Supply minister
Private company to supply EGP 2bn to build chain of hypermarkets as part of plan to expand local trade markets in collaboration with supply ministry
Read More →Feasibility study underway for propylene project through $1.5bn in investments: ECHEM official
Three feasibility studies for petrochemical projects to be completed by 2015
Read More →EGAS halts pumping of gas to Idku plant
The Egyptian Natural Gas Holding company (EGAS) has stopped pumping gas to the Idku liquefaction plant operated by British Gas and GDF Suez, as a result of the increased use of gas by power stations, read the rest…
Read More →Gas imports from Israel to save Egypt $10 per million BTUs
LNG will not be sufficient to meet actual needs of all sectors: Medhat Youssef
Read More →Daily increase of 100m cubic feet of gas production in Egypt
Deficit in fuel for electricity and gas equivalents now stands at 4m cubic metres daily at the expense of factories
Read More →80% majority of Egypt’s natural gas production goes to power plants: Petroleum ministry report
Power plants currently receive 80% of Egypt’s natural gas production, equivalent to approximately 3.043bn cubic feet per day, currently the maximum supply rate, according to a report issued by the Ministry of Petroleum. Approximately 519.8m read the rest…
Read More →Power crisis threatens industrial sector
Daily reduction of 725m cubic feet of gas at factories; gas supply to EBIC, Alexandria Fertilizers, and Egyptian Fertilizers stopped
Read More →Government fails to abide by payment schedule with foreign partners
The government is the reason behind the continued inability of the petroleum sector to repay dues to foreign partners in return for oil and gas received monthly, said an official at the Ministry of Petroleum read the rest…
Read More →Foreign partners demand government repays dues before increasing investments
Foreign companies operating in the oil sector have linked increasing their investments to their payment from the Egyptian government, in light of the government’s failure to keep to the repayment schedule that was previously agreed read the rest…
Read More →EGPC guarantees loan with naphtha, crude oil revenues from Ras Gharib
Total dues owed to foreign partners in the petroleum sector currently stand at $5.9bn, according to the head of the EGPC.
Read More →Petroleum agreements stipulate interest on the government’s dues to its partners
All petroleum agreements stipulate an interest on dues owed by the government to its partners in the case of late payment, and the interest rates vary with each agreement, the official added.
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