Latest in Energy Highlight
Latest in Energy
Expected to be another heavy burden for the poor, citizens refuse electricity price increases
After another increase in electricity prices, citizens appear to not be receptive to this new measure at all, especially as the majority of them have not seen any increases in their salaries in the meantime. Some may save some money by cutting unnecessary habits, others could rationalise energy consumption. Daily News Egypt asked people on …
EGPC diesel reserves cover needs of domestic market for 5 days
Aramco supplies Egypt with 12 diesel shipments a month
NREA receives 5 new offers from foreign banks to finance Siemens wind plant
The New and Renewable Energy Authority (NREA) received five new offers from international banks to finance the first phase of the wind plant implemented by the German company Siemens, with a capacity of 2,000 MW and investments of €2bn. An official at the authority said that the new offers were sent to the Central Bank …
Eni invests $4bn in Zohr gas production processing plant
Italian oil company Eni invested $3.5-4bn in implementing the Zohr natural gas production processing plant at a capacity of 2.7bn cubic feet of gas per day. Minister of Petroleum and Mineral Resources Tarek El-Molla told Daily News Egypt that the total investments in Zohr field are estimated at $12bn until the point when production begins. …
Electricity Ministry puts impossible conditions, obstacles on solar energy companies
Foreign banks should finance 85% of the projects, while 15% comes from local banks, says Shaker
Power plant daily consumption increases by 350m cubic feet of gas: EGAS
The generating units’ solar consumption increased to 6,000 tonnes
Cabinet increases electricity prices for factories by 23%
Cabinet to lift the electricity subsidy gradually on high-consumption segments until 2019, says electricity minister
Chinese town suspends nuclear waste project
A city in the eastern part of China has said it’s suspending preliminary work on a nuclear waste processing plant after days of protests by local residents over health concerns. No final decision has been made yet.
In Cartoon: For Egyptians, the latest increase in electricity prices is hazardous
Cabinet to approve purchase-tariff of electricity generated from waste
At EGP 0.92 per KW, prices will be linked to the inflation rate and land will be provided on a usufruct system for 20 years
Government announces electricity price increase in subsidy reform strategy
The state is continuing its economic reform and liberalisation by scaling back subsidies on electricity consumption; it too early to see how the reforms will affect Egyptian consumers, says Arqaam Capital Researchers
Gas pumping to MOPCO, El Masreya 1, Alexandria Fertilisers halted for maintenance
Consumption-intensive factories, for steel and fertilisers, need nearly 1bn cubic feet of gas a day for their operations
Rise in electricity prices not related to IMF loan: Shaker
Electricity budget is marked at EGP 52bn for the fiscal year 2016/2017, government subsides at EGP 29bn
Average collection rate of July electricity bills hit 90% before increase
Shaker is announcing the new tariff at a press conference in the presence of distribution companies
NREA prepares tender for 20MW-capacity solar power plant in Hurghada
JICA has proposed to finance the project, which was presented to parliament on Monday
Why did power companies agree to local arbitration for cost-sharing agreement but refuse it for power-purchase contracts?
Minister of Electricity Mohamed Shaker’s recent remarks against power companies have incensed investors. He said that investors knew from the beginning that the power purchase agreement (PPA) includes a condition for local arbitration in Cairo in case of any disputes. Investors signed the cost sharing agreement (CSA) which included that same condition, the minister added …
Repayment period for gas shipments, petroleum products increased to 3 months from arrival: El-Molla
All concluded products with foreign companies were modified in order to provide fuel, says Petroleum Minister
Investments by foreign companies reach $8.5bn during current FY: Minister of Petroleum
$3.8bn investments of BP in Atul field for producing 300m cubic feet of gas in December 2018
Is pressure for Egypt’s reform coming from the IMF or from oil prices?
While the IMF conditionality is the focus of the reform agenda, oil prices may be driving government considerations
Petroleum Ministry to rerun ADCO and Damietta liquefaction factories by 2020/2021: minister
The ministry agreed with Shell to adjust the 9B gas prices and export 125m cubic feet daily
Ministry of Electricity owes Siemens €350m for maintenance, power plant upgrades
German company Siemens has maintained and upgraded a number of production units for the Ministry of Electricity worth €350m. An official at the Ministry of Electricity said that it had signed a contract with Siemens to maintain and upgrade a number of electricity production units in Nubaria, Talkha, Kureimat, Ayoun Moussa, and Sidi Kreir, …
3 electricity projects subject to minister’s decision on ‘arbitration’
The companies include ACWA Power, Al-Nowais, and Toyota’s alliance to establish plants worth $7bn
Confusion in electricity sector as price increases not applied for July
Distribution companies to issue July’s bills at 2015 feed-in tariff rates, awaiting minister’s speech
Eni, BP target production of 350m cubic feet of gas from South Baltim field
Six wells will be linked from the new discovery to the national grid by the end of 2016/2017, says source
France EDF to go ahead with China-funded nuclear power station in UK
With existing debts of more than 37 billion euros, the board of France’s EDF energy company has voted to go ahead with building a 21-billion-euro nuclear power plant in the UK. The project faces technical challenges.
Electricity Minister to meet renewable energy investors about feed-in tariff projects
30 companies to review with the minister the problems facing feed-in tariff projects
Egypt produces 50m more cubic feet of natural gas
Eni gas fields in the Nile Delta added 110m cubic feet per day, say sources
FOSTEr-ing solar technology in the Mediterranean area: an EU success story completed in Egypt through the FOSTEr in MED Project
Chamber of Commerce in Alexandria launches solar plant that produces 20,000 kWh annually
Egyptian renewable energy disinvestment over price and arbitration disagreements
The government’s plans to develop renewable energy is to blame for mismanagement and unfair practices, says Hesham Tawfik
5 companies call for licences to import gas from EGAS
Licensing of two companies to take place over next two months, says El-Mazni