Latest in Tag: Egyptian General Petroleum Corporation Highlight
Latest in Tag: Egyptian General Petroleum Corporation
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
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
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 …
Afreximbank funds EGPC with $200m
The African Export–Import Bank (Afreximbank) signed a credit facility agreement worth $200m with the Egyptian General Petroleum Corporation (EGPC) on Thursday to support the expansion of electricity generation and distribution in the country. Head of the bank, Benedict Okey Oramah, said the facility will secure the required fuel to support Egypt’s industrial sector through financing …
Apache to invest $960m in western desert concessions during current fiscal year
Ongoing discussion in regards to increasing FY 2017/2018 investments with Apache’s officials, says Abdel Azim
No clear response from Aramco about timing of receiving oil shipments: El-Molla
The ministry issued a tender to secure November’s needs of petroleum products
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
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
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 …
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
ERC shareholders paid 7.5% of EGPC share in establishing new refining lab
A senior official at the ERC told Daily News Egypt that the EGPC will contribute by 24% in the project’s paid-up capital; $1.134bn from shareholders and $2.6bn from banks.
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
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
Public entities debts to EGPC amount to EGP 195bn by end of January: El Molla
Prime Minister Ibrahim Mehleb formed a committee to fix the current financial issues between the Ministers of Petroleum, Finance, and Electricity.
$6bn foreign company investments in FY 2015/2016: El Molla
Total foreign investment, which is being pumped this year, is estimated at $7.5bn.
$2.7bn needed to complete Egyptian Refining Company project implementation: Commercial Director
Contract signed to supply diesel production to EGPC at global prices for 25 years
Gas supplies to cement plants permanently stopped, fuel oil sent instead: EGAS
Operating Helwan, Al-Qawmeya, and Al-Katameya plants only due to their link to Gharadiq field
Fuel oil supplies non compliant with specifications behind increased summer electricity
The source said that during the summer, fuel suppliers offered fuel at $600 per tonne, with sulphur rates higher than required in the bid.
EGPC will bear LNG import expenses through June: El Molla
The Ministry of Petroleum faced a financing crisis for LNG shipments for the coming year due to the Ministry of Finance’s refusal to provide the necessary financial liquidity.
No agreement reached for LNG arrivals by end of 2014
Government delayed signing with Hog Energi, led to lack of supply during September, says Ministry of Petroleum
Egypt to reimburse share of foreign partner’s oil and gas revenues at $700m a month: Tarek El Molla
EGPC, petroleum sector companies register EGP 72.2bn profit during FY 2013/2014
RWE injects $300m into its area of concession for FY 2014/2015
Germany’s RWE, a Suez Oil Company (SUCO) partner, has increased investment allocations for the 2014/2015 fiscal year to approximately $300m compared to the previous $218m, according to a company official. The new investments will be utilised to drill new wells and develop others in the Ras Badran, Ras Fanar, and Gabal El-Zeit oil fields in …
Gas imports from Israel to save Egypt $10 per million BTUs
LNG will not be sufficient to meet actual needs of all sectors: Medhat Youssef
UAE to provide Egypt‘s petroleum needs at $9bn for 1 year
UAE will provide Egypt with diesel, fuel oil, petrol and butane gas at a value of $800m monthly
Petroleum price hikes spark widespread outcry
“Thugs” forcing fuel stations to sell at old price yet police are unresponsive, petrol station manager
An EGP 2bn syndicated loan for EGPC to meet its needs
SAIB has arranged this syndicated loan which includes other 13 banks.
Minister of Petroleum signs nine agreements with $470m in investments
Agreements are the first to be signed since 2010
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