Latest in Energy Highlight
Latest in Energy
First solar power station in Upper Egypt
Sourcing of funding for EGP 5.5bn project include World Bank, African Development Bank and European Investment Bank
Giza beefs up efforts to prevent diesel smuggling
Daily information briefs from all the governorate’s fuelling stations will be publically posted online
Diesel crisis leads to ministry reshuffle
Tariq al-Mala was appointed vice president of the company, tasked with overseeing operations on behalf of the Petroleum Ministry, succeeding Amru Mustafa
Egypt reduces oil imports
Egypt has cut back on a total of nine million barrels of imported oil for the second quarter of the year, without any official explanation
Iraq to supply Egypt with 4 million barrels of oil monthly
The agreement will also supply Egypt with 4,000 tonnes of diesel per day
Five-hundred Egyptian factories close as a result of increased Mazut prices
Ten-thousand employees have also been laid off as a result
Shell Egypt, Nile Petroleum sign agreement to market marine lubricants
Nile Petroleum will become the primary distributor of Shell marine lubricants in Egypt, serving ships passing through the Suez Canal
Electricity and energy ministry to hold bid for BOO power station in Dairut
Minister of electricity and energy: Dairut factory will be the first of its kind in Egypt to operate on a BOO scheme
Government announces 50% fuel price hikes for cement, brick factories
The government will raise natural gas, fuel oil, and diesel prices
Government sets quotas on subsidised fuel
Egypt’s government is currently undergoing a subsidies reform program in order to help close its budget deficit and secure the obtainment of its pending $4.8bn International Monetary Fund (IMF) loan
Egypt seeks to meet energy needs
EGPC is seeking to buy 968 thousand tonnes of diesel to be delivered between April and June
Brent Crude Oil Prices Near $116
The jump represented the largest weekly increase in two months
Egypt’s drop in gas supplies renews concerns in Jordan
There has been no indication from the Egyptian government when gas supplies will return to normal levels
Turkey inks $12-bn energy project with UAE
“This is the second-biggest investment made in Turkey after the two nuclear power plant projects,” Turkish Energy Minister said
Ministry of Finance allocates $100m for petroleum deficit
The Ministry of Finance (MOF) has allocated EGP 100 million to the Egyptian General Petroleum Corporation (EGPC) for supplying all electricity stations with the required petroleum needs. Minister of Finance Momtaz Al Saeed stated that during July and August, the Ministry allocated EGP 600 million to the EGPC in order to procure the necessary fuel …
International renewable energy companies take interest in Marsa Allam
By Abdelrazik Al Shewikhy In collaboration with several Italian organisations in the field of renewable energy, the RES Group, a UK-based renewable energy company, offered to to construct 30 photovoltaic power stations for the Investors Association in Marsa Alam with investments worth €70 million. The project comes in light of addressing fuel shortage currently crippling …
$150m to resolve petroleum shortage crisis
A committee has been formed between the Ministry of Finance and the Ministry of Petroleum to determine whether additional funds to the EGPC are needed
EGP 1bn from the Social Fund to finance petrochemical projects
The Industrial Development Authority (IDA) is conducting negotiations with the Social Fund for Development to provide EGP 1bn to finance petrochemical projects
€50m French loan to expand electricity grid
By Islam Zayed The French Ambassador to Egypt, Nicolas Galey, and Pierre Marcelli, director of the French Development Agency (FDA)’s office in Cairo, signed an agreement to provide a €50m soft loan to the Egyptian government. The loan will be provided in cooperation with the World Bank, the European Investment Bank, and the German …
British Petroleum draws first gas from Seth development Block
Energy veteran British Petroleum (BP) has announced production of first gas from the Seth development block, located 60 kilometres offshore Ras El Bar, east of the Nile Delta.
EU oil embargo on Iran comes into effect
Oil market observer bodies and analysts say the embargo, coupled with US financial sanctions ramped up on Thursday, are gutting Iran’s vital oil exports
Oil prices drop before Fed stimulus announcement
Many on Wall Street were betting that the Fed would unveil plans to pump more cash into the market, although some dealers were reassessing the likelihood of fresh action
Impediments to Mediterranean gas prospect
More relaxed contractual terms are needed to secure investors interest.
Biggest hurdles remain before East Med gas bonanza
Newly discovered gas reserves in the Eastern Mediterranean encourage regional tensions and slow down their development.
New hope for hepatitis C, an often hidden disease
There’s new hope for an overlooked epidemic: Two powerful drugs are nearing the market that promise to help cure many more people of liver-attacking hepatitis C — even though most who have the simmering infection don’t know it yet. Surprisingly, two-thirds of hepatitis C sufferers are thought to be baby boomers who’ve harbored since their …
New hope for hepatitis C, an often hidden disease
There’s new hope for an overlooked epidemic: Two powerful drugs are nearing the market that promise to help cure many more people of liver-attacking hepatitis C — even though most who have the simmering infection don’t know it yet. Surprisingly, two-thirds of hepatitis C sufferers are thought to be baby boomers who’ve harbored since their …
Cairo to Fayoum: A day trip in the desert
Sometimes it only takes a fresh perspective to remind ourselves of what a dynamic part of the world we actually live in. Cairo is a true blend of pop culture and ancient history, but it’s still easy to take for granted. We all know the Pyramids are looming somewhere in the haze nearby, but the …
Longer-lasting options to treat drug addiction
New treatments for addiction to heroin or narcotic painkillers promise longer-lasting relief that may remove some day-to-day uncertainty of care: A once-a-month shot is now approved and a six-month implant is in the final testing phase. The main treatment options have long been once-a-day medications — controversial methadone or a tablet named buprenorphine — that …
Nola Cupcakes continue Cairo’s cupcake craze
Ask any modern girl what she likes and she might answer with one of the four C’s: champagne, cashmere, carats or cupcakes. With cupcakes being the easiest and cheapest to acquire, though certainly laden with the guilt of calories, cupcakes in Cairo are the easiest indulgence for a girl (or guy) who wants a little …
Publishers drop lawsuit against minister in supplementary textbook crisis
CAIRO: Publishing houses dropped a lawsuit on Tuesday that was previously filed against Minister of Education Ahmed Zaki Badr to terminate his decision to impose fees for the license to print supplementary textbooks. Badr declared on the same day that he was giving licenses to four publishing houses. Now a total of six publishers have …