Latest in Tag: EGPC Highlight
Latest in Tag: EGPC
Expansion of gas production tops state priorities for next period
Egypt currently consumes about 73m tonnes of oil, 33m tonnes of this is directed to the electricity sector
Egypt gas agreements: from production sharing to tax/royalty
All oil exploration and production concession agreements in Egypt have been operating according to Production Sharing Agreements since 1973. This was a shift from the tax/royalty system towards equal sharing agreements concluded between the government, represented by the Egyptian General Petroleum Corporation (EGPC), and foreign companies, with a view to reduce the pressure on the …
EGPC fails to provide cost of fuel for 13 ships held at Alexandria port: sources
The authority is paying $8,000 a day in waiting fees for the stalled ships, says official
BG demands government raise price of gas to $7 per million BTUs
After stopping 9B stage, BG asks government to raise the price of gas to $7 or pay $1bn immediately
International oil, gas exploration bid to be offered in 7 areas in Q1 of 2016
We target to increase oil production to 700,000 barrels per day during 2016: Official
EGPC negotiates with ADNOC to get fuel shipments with payment facilitations
EGPC is working on an agreement with Saudi Arabia, Kuwait, and the UAE on the importation of shipments of petroleum materials and crude oil to meet the growing demand of the domestic market.
Arrears to foreign oil companies stand at $3bn by December
Value of the debt decreased following a reduction in global oil prices
EGPC presents monthly petroleum needs to International Cooperation Ministry
King of Saudi Arabia orders increase of investment and securing Egypt’s needs of petroleum for five years
EGPC urges Aramco to provide petroleum shipments worth $300m
Ministry of International Cooperation negotiating with Saudi Arabia on long-term petroleum facilities, according to an official source
EGPC, EGAS to follow-up on annulment of ICC’s rule
On Sunday, IEC said it has no further announcements than the ones made on 6 December, in which it said it will act to collect the awarded amount
Egypt freezes negotiations on gas imports from Israel
We support the government’s decision, says businessman Alaa Arafa
CBE unable to meet EGPC’s dollar requirements
EGPC acquired $160m in October instead of $700m, says official
Petroleum Ministry agrees with Eni to produce 1bcf from Zohr by 2017
Edison completes seismic studies for its concession area in December
62 production sharing contracts signed by Egypt: EGPC Chairman
12 contracts signed in pipeline sector
Drilling of 3 vertical limestone wells in Apollonia complete: EGPC
Shell reduced the number of wells to be dug, due to Brent price decline
EGPC opens revolving letter of credit pertaining to North Alexandria gas
Fines to be imposed on BP and WRE DEA if linking wells to production is delayed
ADIB Capital to arrange to loan EGPC over $100m
The loan will be used in financing the imported petroleum shipments the company receives to meet local demand
EGPC, Rosneft sign agreement for oil products, LNG shipments
Minister of Petroleum Sherif Ismail said that signing the two agreements is a mutual cooperation between public companies in Egypt and Russia.
Petroleum, supply ministries cooperate to transform cooking oil into biodiesel
The programme will be applied in all governorates in Egypt, whereby ACPA will be responsible for the transformation process
Egypt reduces petroleum products subsidies to EGP 61bn during FY 2015/16: El Molla
Expected decline in fuel consumption is 5% during new fiscal year, says EGPC executive chairman
1.1m butane gas cylinders available daily in Ramadan: Petroleum ministry
Butane gas consumption sees only slight rise of 3%-4% in Ramadan, says former EGPC Vice Chairman
EGP 126.3bn in oil product subsidies’ expenditure in FY 2013/2014: EIA
In 2013, Egypt’s total primary energy consumption was 1.7m barrels per day of oil equivalent, according to BP 2014 Statistical Review of World Energy
Eni pumps $2bn in the Egyptian oil sector
Agreement signed between company and EGPC to modify gas prices, introduce new activities
Foreign partners’ dues now amount to $3.5bn: EGPC Official
Fuel subsidies were trimmed through this fiscal year to EGP 100bn to face budget deficit
$2.6bn to provide market fuel requirements during summer: EGPC CEO
$1.6bn for importing diesel fuel shipments from June until August, says Tarek El Molla
Egypt seeks coal production increase despite solar power potential
Egypt’s coal consumption reaches 0.5m tonnes in 2013/2014, world consumption amounts to 3.7bn tonnes
Finalising procedures of $3bn loan in June: EGPC Chairman
Work is being finalised on the procedures of obtaining a $3bn loan from the Islamic Development Bank (IDB), allocated to the Egyptian General Petroleum Corporation (EGPC). The procedures for the loan are set to be completed by June, said Chairman of EGPC, Tarek El-Mulla, adding that the IDB loan will be issued due to a …
EGPC to pay $2.5bn in LNG imports during FY 2015/2016
El Molla assured that no Ministry of Finance budget will be allocated to import gas
EGPC to commence crude oil production in south Iraq by beginning of 2016: Chairman
1.1bn oil barrels of reserve for the “9” zone in Basra
$23.5bn agreements signed in oil, gas, mining sector at Summit
Largest contribution in the sector made through BP