Latest in Energy Highlight
Latest in Energy
Negotiations with GCL to establish solar panel production complex stall
Chinese group is required to sign a purchase of 5 GW per year for financing
Gas production in first four months of this year amounted to 24.6m tonnes
Osama El Bakly, chairperson of the Egyptian Natural Gas Holding Company (EGAS), said that production of gas in the first four months of 2018 reached about 24.6m tonnes. El Bakly told Daily News Egypt that the volume of natural gas consumption reached 24.9m tonnes, whereby the household, electricity, and industry sector account for most of …
Carbon Holdings withdraws first instalment of petrochemical project loan before end of year
Repayment period is up to 17 years, interest at 1.5-2%
EETC to tender establishment of five transformer stations next month
EGP 1bn allocated to replace lines with ground cables
EGPC to pay between $200-500m of foreign partners’ entitlements within two months
Receipt of fourth shipment of 2mn barrels of Iraqi oil in two weeks
EEHC to start repaying loans for Siemens plants to German banks in December
First batch ranges from €100-150m after commercial operation, say sources
Exploration drilling in Nour field begins in September
A source at the Ministry of Petroleum said that the Italian company Eni and Tharwa Petroleum Company will begin digging the first exploration well of the Nour gas field in the concession area in the Mediterranean after obtaining the necessary approvals from the Ministry of Petroleum. Drilling is expected to begin in mid-September
5% decrease in 92-octane petrol consumption at Misr Petroleum since price hikes
92-octane petrol consumption rates declined 5% at Misr Petroleum during the two weeks that followed the petroleum product price hikes. Sources at the company told Daily News Egypt that the company secures 2.1m litres of 92-octane petrol every day to its stations across the republic, but consumption dropped by about 100,000 litres per day. The …
EGAS organises workshop to support natural gas delivery teams for homes
The Egyptian Natural Gas Holding Company (EGAS) organised a workshop to support the teams of the natural gas delivery project for homes, which is funded by the European Union, the French Agency for Development, and the World Bank. The project is being implemented within the framework of the gas delivery programme for homes in different …
SMEDA signs contracts to convert 1,000 cars to operate using natural gas, funding 10 car oil retail outlets
Agency has already converted 27,500 cars, opened 41 outlets to sell oil with EGP 150m in funding, providing EPG 28,000 jobs, says Gamea
EEHC negotiates with Shanghai alliance to establish Hamrawein coal plant
Chinese, Egyptian banks financing project
Solar companies taking advantage of increasing electricity prices in promoting their products
Discounts, payment facilities, guarantee for 25-year period
Increased crude oil production after OPEC’s decision supports energy market stability: experts
A number of oil and energy experts confirmed that the increase in oil production may range between 600,000 and 700,000 barrels per day over the coming six months by OPEC members and non-members
Brent crude price forecast for 2018 remains at $70 per barrel: Bank of America Merrill Lynch
The forecasted price of Brent crude for 2018 remains at $70 per barrel, $4 lower than the current price, on the back of the OPEC and non-OPEC oil-producing countries’ agreement to increase production by 1m barrels per day, according to a Bank of America Merrill Lynch Global Research report issued on Monday. Egypt is highly …
Egypt receives studies on electricity interconnection project with Cyprus
Committee formed to evaluate studies before they are presentation to Al-Sisi
Inauguration of Siemens power plants awaits Al-Sisi’s agenda
14,000 MW added from Beni Suef, Borollos, and New Administrative Capital
23 companies accredited for national project of small solar cell systems
Support of up to $37,500 from UNDP, GEF for implementation of stations in industrial sector
Petroleum Ministry, refining companies discuss developing production units before launching 87-octane petrol
The Egyptian General Petroleum Corporation (EGPC) started discussions with fuel refining companies in the local market in order to develop petrol production units over the upcoming period so that they suit the trends of the sector to soon launch 87-octane petrol in the market, according to an official at the EGPC. The official told Daily …
Fuel price hikes are credit positive: Moody’s
Egypt’s credit rating to return back to BB+ by end of economic reform programme, says banking expert
Egypt’s fuel subsidy reform is credit positive, reducing fuel subsidy bill to 1.7% of GDP in 2019: Moody’s
Subsidy reform adjustment led to declining purchasing power, yet a brightening economic and employment outlook provides a better basis for acceptance of the new reforms
UAE’s Mubadala buys 10% of Zohr field
The Ministry of Petroleum signed a final agreement to sell 10% of Zohr concession areas to the UAE’s Mubadala Oil Company, according to a statement from the ministry on Wednesday. The ministry said it has signed a contract with the Italian company Eni and Mubadala and the Egyptian Natural Gas Holding Company (EGAS) to sell …
Egypt and Saudi Arabia postpone interconnection agreements indefinitely
Egypt and Saudi Arabia have again postponed awarding the tender for the electricity grid between the two countries, despite assurances from the joint committee of its willingness to sign the final contracts for the project at the end of this month. Government sources told Daily News Egypt that the companies competing for the tender of …
Government is considering implementation of a new mechanism for monitoring distribution of butane cylinders
Gasoline mart card system to be cancelled, after finding defects in application: El-Molla
EGAS reportedly purchased 9 LNG shipments
Aramco to supply Egypt with 0.5-1m barrels of crude oil per month
30 companies to start implementation of solar energy projects in Benban
Thirty companies from Aswan started implementing solar energy projects with the feed-in tariff scheme in Benban, Aswan, after their documents were reviewed by Hassan Allam, who is responsible for managing services at the project site. Hossam Allam, chief executive officer of Hassan Allam services, said that 30 companies from Benban were nominated to work on …
Breakthrough in wind feed-in tariff projects
Cabinet agrees in principle to implementation of stations on BOO scheme
Daily gas production up by 1.5bn scf/day: Petroleum Ministry
The Ministry of Petroleum announced that the total daily added production of natural gas since the beginning of 2017 thus far amounted to about 1.5bn standard cubic feet per day (scf/day) and 5,170 barrels of condensates. The ministry explained that the plans and programmes of work that have been implemented have contributed to increasing Egypt’s …
Government reduces fuel subsides by 16-66%, raises gasoline 92 to EGP 6.75
The Egyptian authorities decided to go ahead with hikes to subsidised government-set fuel prices on Thursday, lifting gasoline and diesel prices by between 17-66% and raising the price of a litre of gasoline 92 to EGP 6.75, up from EGP 5. The price of gasoline 80 and diesel fuel both increased from EGP 3.65 to …
EGP 6.2bn tender for constructing nine transformer stations to be offered: electricity minister
We will extend network by over 6,174 km through 2025, says Mohamed Shaker
Contract for first solar panels production plant to be signed in two months: Al-Assar
Over 200 Egyptian companies applied to participate in Dabaa nuclear plant works, military production minister says