Latest in Tag: EGPC Highlight
Latest in Tag: EGPC
EGPC valuates assets offered by Public Enterprise Sector Ministry for debt settlement
EGPC to discuss suitability of offered assets to oil projects, says source
Zohr’s 13th well to be linked in October, production exceeds 3bn scf/day end-2019: Petro Shorouk
Investment in Zohr accounted to $10.6bn so far, says Hassan
Egypt to launch oil exploration tender by end of 2019
Incentives in new oil agreements to encourage partners, according to industry sources
EGPC forecasted net profit fell to EGP 21.4bn in FY 2019/20, down 30%
Profit targets were set based on minimum oil, gas production, say sources
Oil price increases to $67.60 supported by extending production cuts for June, US sanctions
Fair oil price in international markets is $60 per barrel, says EGPC’s ex-vice chairperson
British Petroceltic files arbitration case against EGPC
British Petroceltic announced on Sunday filing an arbitration case against the Egyptian General Petroleum Corporation (EGPC) at the World Bank Group’s International Centre for Settlement of Investment Disputes (ICSID), according to a statement by the company. The EGPC reportedly breached its obligations in several gas sales agreements and was not able to pay its debts …
Petroceltic threatens international arbitration against EGPC to settle $30m arrears
Company did not fulfil its obligations, says EGPC
Petroleum Ministry announces results of $800m worth EGAS, EGPC tenders
Winning companies committed to drilling 60 exploration wells, says El-Molla
Reviewing gas pricing produced from Zohr to take place by end of 2019 according to agreement: EGPC
Article to be added to new gas exploration agreements to allow amending prices two years from production start
EGPC pays $3.1 per million BTUs produced from North Alexandria fields
The Egyptian General Petroleum Corporation (EGPC) is paying about $3.1 per million British thermal unit (BTUs) of British Petroleum’s(BP) share of the gas currently produced from the fields of northern Alexandria and the deep West Delta in the Mediterranean, according to the price formula linked to oil prices in world markets. A source at the …
EGPC pumps 1.3m tonnes of diesel in market daily; new discoveries enhance refining industry
Rates of consumption of diesel throughout year range from 1.1 to 1.2m tonnes per day
BP, EGPC sign $46m agreement for oil, gas exploration in Gulf of Suez
The Egyptian General Petroleum Corporation (EGPC) signed an agreement with the energy giant British Petroleum (BP) to explore and produce oil and gas in the northeast of the Ramadan concession in the Gulf of Suez with investments of $46m. The agreement was signed by the CEO of the EGPC, Abed Ezz El-Regal, and BP’s regional …
EGPC to provide 15,000 tonnes of LPG daily in market
The CEO of the Egyptian General Petroleum Corporation (EGPC), Abed Ezz El-Regal, said that the country’s production of liquefied petroleum gas (LPG) reached about 15,000 tonnes per day in the local market, which fulfils the state’s needs, specifically commercial and household consumption. He added that the state is keen to meet the local market’s needs …
EGPC to pay between $200-500m of foreign partners’ entitlements within two months
Receipt of fourth shipment of 2mn barrels of Iraqi oil in two weeks
20% increase in petrol pumping rates to occur during Eid
Abed Ezz El Regal, chairperson of the Egyptian General Petroleum Corporation (EGPC), said that there will be increases in the pumping rates of petrol in the market, from 20m litres per day to 24m litres per day, a 20% increase across the country. He added that through distribution companies, the corporation will also increase diesel …
EGPC negotiates with 5 banks for EGP 4bn loans
The Egyptian General Petroleum Corporation (EGPC) has started negotiations with five local and Arab banks to obtain EGP 4bn in loans to purchase and supply petroleum products. Sources from the EGPC told Daily News Egypt that the banks are Banque Misr, the National Bank of Egypt (NBE), National Bank of Kuwait (NBK), Al Ahli Bank …
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 …
El-Molla directs EGPC, Ganope, EGAS to intensify oil exploration
The Ministry of Petroleum aims to increase oil production to reduce reliance on imports
EGPC to pose international tender for oil exploration in Eastern Desert
Egypt intends to import 80 shipments of LNG in 2017-2018, says Minister of Petroleum
Government agencies’ dues to EGPC amounted to EGP 121bn at end of past FY
EGPC arrears to foreign partners reached EGP 80bn
EGPC sets exchange rate for repayment of foreign partners at EGP 17 per US dollar
Large part of the bill paid in Egyptian pounds, says source
EGPC poses tender to replace Aramco fuel shipments in January
The Egyptian General Petroleum Corporation is set to pose a tender to supply all needs of the domestic market of petroleum products in January, replacing the Saudi Aramco shipments, which were halted since October. A government source told Daily News Egypt that Aramco’s contract to supply 700,000 tonnes of petroleum products per month was stopped, …
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
EGPC signs partnership with Kuwait Energy for 15% of Iraq’s Seba gas field
Petrojet to carry out work on project for $200m
Parliament calls on government to review Aramco agreement, find out why October shipment suspended
The Saudi company has not informed the government about resupplying Egypt with petroleum
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
Petroleum Ministry was not officially notified about not being supplied October shipments: Tarek El Molla
The ministry proposed a tender to secure the needs of the market in case the Saudi shipments did not arrive
EGPC paid $480m of bank instalments to EDCO
The Egyptian General Petroleum Corporation (EGPC) paid approximately $480m in bank instalments to EDCO liquefaction plant, affiliated to Royal Dutch Shell, which ceased operating at full capacity in 2012. This did not result in the foreign partner (Shell) raising an international arbitration case against Egypt. A source in the petroleum sector told Daily News Egypt that …
EGPC diesel reserves cover needs of domestic market for 5 days
Aramco supplies Egypt with 12 diesel shipments a month
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