Latest in Energy Highlight
Latest in Energy
$50m loan from AFDB to finance Egypt’s share in joint Egyptian-Emirati company
The AFDB will give a loan of around $50m to the New and Renewable Energy Authority (NREA) for the project.
Greenpeace outlines plans for German coal exit
Greenpeace is serious about acquiring coal mines and power plants owned by Swedish utility Vattenfall in eastern Germany. But the environmentalists don’t want to pay anything. The operations, they say, are worthless. As the third-largest energy producer in Germany, Vattenfall looks for a way out of the coal business – Greenpeace is looking for a …
China takes stake in EDF nuclear project in Britain
French nuclear power plant operator EDF has reportedly signed a deal with two Chinese energy companies for a one-third stake in the next generation nuclear project at Hinkley Point in Britain. According to Paris-based newspaper Les Echo, French power giant EDF agreed to relinquish a 33.5 percent stake in its Hinkley Point nuclear project in …
Russia resumes gas deliveries to Ukraine
Russian gas monopoly Gazprom has resumed shipments of natural gas to its embattled neighbor Ukraine for the first time since last July, when Moscow halted deliveries over a pricing dispute with Kyiv. Gazprom CEO Alexei Miller said his company had reopened the pipelines to Ukraine after receiving a prepayment of $234 million (205.3 million euros) …
8 areas offered in new bid to search for gas in Mediterranean Sea
The decrease in Brent’ prices negatively affected offers by foreign companies to explore in deep waters, says official
44 companies obtain tender conditions for 200 MW solar power plant
15 companies to be shortlisted to choose the least expensive bid after conducting technical studies, sources say
Ukraine and Russia strike deal on winter gas supplies
Ukraine and Russia have finalized an agreement providing Kyiv with gas supplies for the upcoming winter. A full agreement involving the European Commission is due to be signed shortly. The deal between Russia and Ukraine provides Kyiv with gas supplies for the winter according to European Commission Vice President Maros Sefcovic, who brokered the talks. …
IAEA interested in assisting Egypt in Dabaa Nuclear Power plant
Director General of IAEA expressed willingness to send delegation to Cairo to assist in putting up regulatory framework for project establishment
Oil supply forecast to shrink next year
Cheap oil prices have been massively affecting global markets, from countries’ budgets to world food prices. Now the oversupplied oil market is in for a rebalancing as non-OPEC producers like the US and Russia cut back. Oil production from non-OPEC countries is expected to plunge next year – perhaps the steepest decline since the Soviet …
Cheap oil threatens North Sea fields
Low oil prices have strained the budgets of countries, which depend mainly on fossil fuel exports. And the slide have also affected the fields themselves, which are “no longer economically viable” in this environment. Low oil prices could bring about the closure of about 140 oil fields in Britain’s North Sea in the next five …
Eni’s share value inches up after announcement of Egypt’s natural gas discovery
The value per share reached €15.2 after company’s CEO announced that he expected investments worth 6bn to $10bn for development of field
Mac Optic to build petrochemical plant in Gulf of Suez: Vice President
Company signed contracts with Nigerian companies, negotiations underway with Iraqi government for oil supply, says Radwan
New gas discovery will not cover Egypt’s needs for next 4 years: Taqa Arabia executive
Gas discovery will, however, enhance economy, reduce budget deficit and create job opportunities, says Abu Bakr
$600m of foreign partners’ dues paid last month: El Molla
CBE provided $1.2bn over the past two months for gas and fuel imports
Led by Saudi Arabia, Persian Gulf oil countries resist tough climate agreement
Saudi Arabia is being accused of trying to water down the climate agreement at international talks in Bonn this week. But the Middle East is vulnerable to the effects of climate change – and awareness may be growing. Delegates meeting in Bonn, Germany, this week are under pressure to hash out the details of a …
Egypt’s OTMT, European REC to provide solar power integrated solutions
The implementation of solar power plants tends to be much faster than other types, such as coal and wind, says Senior Vice President EMEA at REC
Electrical energy generated witnessed a 2.1% increase in 2013/2014
The amount of electrical energy generated in 2013 / 2014 reached 168 billion KWH
Egypt to gain 60% share of Shorouk franchise production: EGAS Chairman
The Egyptian Natural Gas Holding Company (EGAS) agreement with Italy’s Eni will see Egypt’s share of gas production from the Shorouk franchise increase to over 60%
Eni invests $7bn to develop Shorouk in 3 years
Italian oil company Eni aims to invest around $7bn during three years to excavate the privilege area of Shorouk in the deep waters of the Mediterranean Sea
Egypt to host ‘The Future of Energy in Egypt’ forum
Participants are meeting in response to Future Energy Corporation’s call to develop a roadmap that will transform Egypt into one of the top five energy exporters in the Middle East by 2030
Shell asks EGPC to agree on Al-Abyad shale gas price
Studies to assess layers and reserves are being conducted to determine required investments, says official
Electricity Ministry cancels tender for 50,000 smart electricity metres, replaces with another
Twelve companies, including Elsewedy, Global, Siemens, and Huawei, bought new tender specifications for supplying 3m devices
Renewables shift wallops traditional power plants
Germany’s shift to renewable energy sources will have a greater impact on operators of traditional power plants than originally thought, according to new data from the country’s grid supervisor. Fifty-seven traditional gas and coal power plants are set to close in Germany as a consequence of Energiewende, or energy transition, which has diminished the profitability …
Catching a breeze to power the world
Charlotte Slingsby, a graduate design engineer, has invented Moya, a lightweight, flexible curtain that turns a soft breeze into wind energy, even in inaccessible locations. Global Ideas: When I first saw your invention, the Moya, I thought you where holding a curtain. But it’s obviously something very different. What is it? Charlotte Slingsby: It is …
BAPETCo invests $415m in FY 2015/2016
Segment of investments will be allocated to implement projects aiming to increase oil and gas production
Egypt Gas loses EGP 48.6m in H1 of 2015
Financial statements show revenues of EGP 544.68m, compared to EGP 290.1m during the same period in 2014
Faulty South Cairo power station causes outage
146 cubic metres of gas and oil equivalent are pumped to power plants
BAPETCO’s discovery increases daily oil production to 50,600 barrels
Well’s original oil records about 15m barrels, adds approximately 5m barrels to oil reserves
Petrochemical projects studies being prepared within new Suez Canal Axis Development plan: Petroleum Ministry
“We are participating in implementation of two tunnels, for cars and trains, under canal north of Ismailia,” says Ismail
ABB studies investing in infrastructure, logistics in Suez Canal
ABB studies the plan to invest infrastructure and logistics projects in the Suez Canal projects; we may provide developed ship motors equipment with ABB’s products