Latest in Energy Highlight
Latest in Energy
EEHC opens financial envelopes for Hamrawein coal plant before cabinet
Shanghai Electric-Dongfang Electric-Hassan Allam offers lowest bid at $4.4bn
Iran to maintain oil exports if EU salvages nuclear deal
Iranian Oil Minister Bijan Zanganeh said that the US President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports if the European Union (EU) could salvage the pact, Reuters reported. The Iran nuclear deal was signed by Trump’s predecessor, Barack Obama, along with the United Kingdom, France, Germany, China, …
KarmSolar implementing $80m solar power plants
Part of shares will be listed on EGX by 2021: CEO
Energy companies look to raise local components in electrical equipment, improve efficiency
We have capabilities to manufacture 70% of products in Egypt, says president of Wadi El Nile
Gas consumption records 3.3m tonnes in April: EGAS
Gas consumption in Egypt rose last month to 3.3m tonnes from 2.3m tonnes in March, according to the Egyptian Natural Gas Holding Company (EGAS). An official at EGAS said that the power plant, household, and industrial sectors account for the largest proportion of gas consumption. Egypt’s natural gas production witnessed a remarkable increase last year, …
Triple M Contracting aims to establish 10 solar power plants
Company contracted with Shandong Hengwang Group, says El Romy
Saudi oil storage in Egypt, marketing in Europe: Aramco
Minister of Petroleum and Mineral Resources Tarek El-Molla and the CEO of Aramco Trading Company, Ibrahim Al-Buainain, discussed ways to enhance joint cooperation and achieve sustainability in the commercial relations between Egypt’s petroleum sector and Aramco, and enhance cooperation in the supply of crude oil to be refined in Egypt. El-Molla pointed out that the …
We may resort to raising allocations in draft budget to address hike in oil prices: planning committee
Hikes threaten target deficit, says Omar
Egyptian Solar Energy Systems sets up nine solar plants for SDEDC
NDEDC issues tender to establish 3 stations
Acropol Renewable Energy Solutions aims to sell 500 solar heaters by end-2018
Company competing to supply heaters in 3 tenders, says El-Shehawy
Cypriot delegation to visit Egypt next month to complete negotiations on electric interconnection
Shaker receives a memo containing the technical and financial studies of the project: sources
1.5% increase in inflation rate in April: CAPMAS
The Central Agency for Public Mobilisation and Statistics (CAPMAS) announced in its monthly bulletin that the inflation rate in Egypt increased by 1.5% in April compared to March, reaching 273.9 points. According to the CAPMAS’s monthly bulletin, the annual inflation rate in Egypt amounted to 12.9% last month, compared to 32.9% in April 2017. The …
KarmSolar, El Badr for Investment and Commercial Spaces sign 20MW solar power agreement for Arkan Plaza to run 100% on solar energy by 2021
KarmSolar signed a deal with El Badr for Investment and Commercial Spaces to generate and distribute solar power to Arkan Plaza, in El Sheikh Zayed on Thursday. The deal includes a commitment by KarmSolar to build solar stations of a total of 20MWs by 2021, converting Arkan Plaza to run 100% on solar energy. The …
EGPC owes Electricity Ministry EGP 100bn
The Egyptian General Petroleum Corporation (EGPC)’s dues owed to the electricity sector increased to EGP 100bn last month. A governmental source told Daily News Egypt that the dues are rising, as the EGPC does not pay for the fuel fed to power plants and only pays about EGP 800m every month out of a monthly …
EGAS aims to increase revenues to EGP 2bn next year
The chairperson and managing director of the Egyptian Natural Gas Holding Company (EGAS), Yasser Salah El-Din, said that the company aims to increase its civil and mechanical works to EGP 250m and increase the company’s total revenues to EGP 2bn in 2018/2019. That is a targeted increase in annual business value estimated at EGP 300m. …
Reforms, gas, oil laws attract investments to Egypt: Shell executive vice president
Sami Iskander, Shell executive vice president, said that investment in the oil sector has faced many challenges, notably the decline in prices in 2014 and 2015, but there are indicators of improvement that increase investment opportunities in Egypt, especially after reforms in the sector along with laws on gas and investment that attracted large companies …
6 challenges facing NPPA before implementation of Dabaa
Challenges include gaining public acceptance, convincing citizens of nuclear energy’s importance
Egypt, Saudi Arabia to sign electricity connection agreement in June
Project cost rises to $2bn; companies implementing lines, cables to be announced next month
Egypt offers legal tender to implement electricity link with Sudan within days
10 companies invited to submit bids, including Siemens, ABB, El Sewedy
Inauguration of Borollos, New Administrative Capital power plants postponed
Al-Sisi to witness operation of Beni Suef, Assiut plants this month
Electricity Ministry proposes solution to wind farm tariff problem
Implementation to be changed to BOO system
Petroleum Ministry intends to pay $200m of foreign partners’ arrears in June
The Ministry of Petroleum intends, in June, to pay a new tranche of the arrears it owes foreign partners, worth $200m. Sources at the Ministry of Petroleum told Daily News Egypt that the new batch will be paid out of the tranches obtained by Egypt from the World Bank and African Development Bank, as part …
Israeli gas imports suspension lawsuit: Another stumbling block to Egypt’s energy hub aspirations
Cairo Administrative Court referred on Tuesday a lawsuit demanding the suspension of the approval of natural gas imports from Israel, for violating the Egyptian Constitution and Law No 196 of 2017 regulating the gas market to the State Council Commissioner Authority (SCCA). The lawsuit alleges that allowing natural gas imports from the “Zionist entity” endangers …
EU announces Households Gas Connections Project
Project costs $1.2bn, €68m of which is European grant
Government looks to appoint consultant to study using surplus electricity for water desalination
The government is considering appointing a consultant to study the feasibility of exploiting surplus energy production in the construction of desalination plants. Government sources told Daily News Egypt that the total capacity produced from the electricity grid is 42,000 MW and will increase to 50,000 MW by the end of July. The expected surplus is …
Libyan oil pipeline attacked by alleged IS fighters
A Libyan crude oil pipeline owned by the Waha Oil Company, which feeds the port at Sidra. Libya’s largest oil terminal, was set on fire on Saturday. The attack lead to the loss of between 70,000 barrels per day (bpd) and 100,000 bpd, according to the state-owned National Oil Company (NOC). According to Reuters, Libyan …
NREA to begin withdrawing land granted for wind plants under feed-in tariff next week
NREA will withdraw 90 sqkm due to companies’ failure to complete financial closure of their projects
Yorktown to sell Egypt-based oil, gas company Merlon International
The New York-based private equity firm Yorktown Partners is reportedly planning to sell its Egypt-focused oil and gas company Merlon International, Reuters reported on Saturday. According to the reports, the firm aims to raise up to $400m, and the sale will be run by Citigroup, with expected bids planned to be concluded by July. Merlon …
iQ Power allocates $300m to invest in solar energy projects
Company to construct Red Sea station in cooperation with Gigawatt Global, Power House, says Alhaj
EEHC to decide on operation, maintenance of Siemens stations in May
Evaluation committee selecting between 4 offers