Latest in Energy Highlight
Latest in Energy
Natural gas market regulatory authority to be established before end of 2017: El Molla
Petroleum companies being offered in EGX will be announced this November
NREA recovers lands of feed-in tariff projects from 5 withdrawing companies
The New and Renewable Energy Authority (NREA) has recovered the lands of the solar energy projects in Banban, Aswan from five companies that have withdrawn from implementing the project. Sources in the NREA said that the authority has recovered 5 sqkm from Abdul Latif Jameel Company, Enel Green Power, Cairo Solar, Orascom Telecom, and Triangle. …
EGAS reassess gas projects to be added to national grid production until end of 2017
Possibility of providing Egypt’s needs of fuel without renting a third gasification under discussion, says source
NREA to offer tender for solar plant in Kom Ombo, operations to start next year
The French Development Agency is financing the project with €40m
France braces for power cuts in winter
The temporary disconnection of several nuclear power plants for regular checks in France has prompted a grid operator to warn against possible power cuts in December.
Iran, France’s Total sign major gas deal
Iran has signed a memorandum of understanding with French energy giant Total on the development of a major offshore gas field.
EETC signs for $757 loan with Export-Import Bank of China
Chinese State Grid to establish 1,210 km-long lines, government guarantee to be agreed within days
El-Molla looking for alternatives to Aramco’s contract to secure fuel
Petroleum Ministry refutes rumours of El-Molla visiting Tehran looking for new oil deals
Electricity Ministry may cease negotiations for new equipment purchases following pound flotation
Offers and prices of companies changed after the US dollar exchange rate appreciated, say sources
Fuel prices increase following flotation of Egyptian pound
The new price for octane 80 and diesel will be EGP 2.35 compared to EGP 1.80. Octane 92 will be EGP 3.50 instead of EGP 2.35
Electricity production costs to increase by 40%
The cost of the production of electricity is expected to increase by 40% following the flotation of the Egyptian pound on Thursday
Allocations for petroleum product subsidies expected to increase after floating the Egyptian pound
Allocations for petroleum product subsidies expected to exceed previous amount of EGP 35bn
Al Nowais negotiates with Finance Ministry to issue sovereign guarantee for Oyoun Moussa coal plant
Orascom Construction competes to establish Hamrawein plant; examination of offers to end in December
Egypt has received fuel shipments worth $1.2bn from Aramco over the past 4 months: Petroleum Minister
The value of petroleum products exported by the Saudi Arabian company Aramco to Egypt beginning in May of this year and throughout the past four months has reached $1.2bn. This amount was estimated at 700,000 tonnes of fuel per month. Minister of Petroleum and Mineral Resources Tarek El-Molla told Daily News Egypt that the value …
Renewable energy companies begin feed-in tariff 2nd phase negotiations
5 banking institutions, including IFC, EBRD, and EFD agree to finance projects
Arqaam Capital forecasts 16% increase for Elsewedy Electric’s gross profits by 2019
Elsewedy Electric’s net profits increased by 99.2% in the second quarter of the fiscal year 2016 compared to the same period in the previous year
EGPC signs partnership with Kuwait Energy for 15% of Iraq’s Seba gas field
Petrojet to carry out work on project for $200m
Dresser-Rand business to supply turbine-generators for Egypt’s Zohr gas field
The company will also provide a service package that includes spare parts supply and on-site maintenance
EETC, Infinity Solar sign renewable power purchase agreement
German bank LP funds 85% of cost in US dollars, while AAIB secures 15% in Egyptian pounds
Ministry of Electricity signs purchase agreement with solar companies
The minister has granted investors 10 days to complete the financial closing procedures; eight companies plan to implement feed-in tariff projects with investments worth $600m
Eni completes drilling 6th well in Zohr deepwater
Production tests confirmed reserves increase to more than 30tn cubic feet of gas, says source
BP produces 650m cubic feet from Taurus and Libra fields
BP agreement with Royal Dutch Shell will see gas produced from North Alexandria project at $0.3 per million feet, says source
Electricity Ministry begins paying dues to companies that left feed-in tariff projects without fines
Cairo Solar received EGP 19m from EETC for cost-sharing agreement premiums and letter of guarantee
Shell in talks with government to increase natural gas supply
Shell is currently in talks with the government in order to increase exports, as the government seeks to increase supply to the domestic market
Egypt hesitates in cutting fuel subsidies
The government pledged to the IMF to raise fuel prices and apply a smartcard system
Petroleum Ministry’s dues to foreign companies reach $3.6bn
We seek to repay part of the dues before the end of 2016, says source
Aramco oil deal with Egypt still on, suspension of October shipments ‘exceptional’
Aramco informed EGPC of its inability to supply Egypt with shipments of petroleum products for October only, says Egyptian official
Prysmian Group wins tender for Egyptian-Saudi electrical interconnection cables project
Lines tenders at the end of October, Transformers on 17 October, says Abdel Rahim
Electricity Ministry to repay dues of companies that withdrew from FIT projects by end of month
Purchase agreements to be signed with those who were tied by first-stage regulations within 20 days
Petroleum Ministry’s dues to Shell increase to $1.3bn from Borollos, Rashid gas returns
Shell postponed the implementation of the 9B stage until the ministry commits to repaying outstanding debts, says source