Latest in Tag: energy Highlight
Latest in Tag: energy
Turkey keen on investing in Egyptian electricity sector
Several Turkish companies expressed interested in investing in Egypt’s electricity sector, Turkish Ambassador to Egypt, Huseyin Avni Botsali, said according to MENA. Bostali led the talks of the Turkish business delegation in a meeting with the Egyptian Minister of Electricity Mahmoud Balbaa. The meeting focused on the implementation of the memorandum of understanding signed between …
New holding company for mining industries approved
Minister of Industry and Foreign Trade Hatem Saleh approved the establishment of a mining holding company at the opening ceremony of the National Vision for Mining Wealth Conference held Tuesday. According to government officials, the move toward establishing a holding company for mining is proposed to boost investment in Egypt’s mining sector and expand mining …
Turkey’s economic miracle offers MENA investors big markets to chase
By Tim Reid Turkey has hung out its ‘for sale’ sign at just the right time to grab the attention of Arab investors who are in the market for new destinations to deploy their record energy revenues. A new Turkish real-estate law came into effect in May making it easier for Arabs to buy property …
Russia asserts Pacific power at APEC summit
Kremlin hoping for major economic gains by playing a regional role
PM orders formation of technical committee to resolve electricity crisis
The efforts to solve the electricity crisis continue
Banks assure interest in financing energy sector
$5 billion power stations to be installed during winter, says the ministry of Electricity
Jordanians protest skyrocketing fuel prices
Ten percent fuel price hike sparks outrage in Amman
Morsy secures Chinese deals
Prospects of improving Egypt’s economic situation, as Morsy visits China
Calls to fix energy pricesfor factories
The Exports Council for Construction Materials (ECCM) will hold an urgent meeting this Sunday to request Prime Minister Hesham Qandil fix energy prices for factories. The ECCM plans to ask for a detailed five year plan to fix energy prices for industries. Waleed Gamal Eldeen, Presidentof the ECCM, said the energy prices instability is causing …
Protests at Alexandria plant turn violent
“One person died yesterday. Approximately 12 to 14 were injured” during protests at the Abu Qir Thermal Power Plant, a spokesman from the Ministry of Interior confirmed in a phone call. The Saturday protests have settled down after “some officers and soldiers went to save the plant,” he said. “Everything is now calm and quiet.” …
The EGPC issues new bid round for 20 blocks
By Islam Serour The Egyptian General Petroleum Corporation(EGPC) announced a new bid round for 20 blocks in the areas of the Eastern and Western Deserts exploration. Total investments according Hani Dahy, Chairman of the EGPC, is estimated to amount to $8.5 billion in the 2012-2013 fiscal year. Adel Saeed, the EGPC’s Vice Chairman for Agreements, …
Ministry of Electricity ready with third contingency plan
By Salah Elmenoufy The Ministry of Electricity (MOE) determined the new sites where it will implement its third contingency plan to meet the summer’s demand. Sources said that the plan includes establishing new power generation units in a number of already installed stations. These units will be established in Elseyuf station in Alexandria, Elmahmodeya, Damanhour …
Renewable energy solutions company to trade in NILEX
ARES to trade 10% of its shares in NILEX
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 …
EGPC assesses proposals international companies for the tendered 15 blocks
By Ahmed Tolba The Egyptian General Petroleum Corporation (EGPC) will be appraising the financial offers proposed by the companies who partook in the most recent bid round issued by the EGPC in the coming 10 days, according to the Executive Director of the EGPC, Hani Dahi. The EGPC has tendered off 15 blocks scattered around …
Ministry of Finance to be responsible for electricity and export subsidies
By Islam Zayed Minister of Trade and Industry, Hatem Saleh, has handed responsibility for his electricity and export subsidies dossiers to Minister of Finance, Momtaz El-Saeed. El-Saeed plans to increase subsidies for the export sector from EGP 3.4 to 3.5 billion; EGP 600 million of which was approved in the state budget by the former …
PM: Starting next summer, energy rationalisation mandatory
By Islam Serour Power saving measures will become mandatory by 2013, Prime Minister Hesham Qandil told a press conference Friday night, noting that the government will issue the organising criteria and conditions. The Prime Minister relayed the findings of the technical committee tasked to investigate the rolling blackouts. According to which, electricity production covers 90 …
Qandil addresses summer electricity crisis
Hesham Qandil is the first official to discuss the electricity crisis in public, says Egy-News
State of the energy sector address by Petroleum Minister
By Ahmed Tolba In his first statement as Petroleum Minister, Osama Kamal has hinted that energy subsidies could be cut as part of measures to address shortages in Egypt. A number of proposals to rationalise energy consumption would be discussed in the coming period, Kamal said, noting that a large portion of the subsidies benefit …
Yasser Ali: “Electricity problems will be over soon”
Egypt has been plunged into darkness fairly often in past weeks, with some areas having regular power cuts every three or four hours.
Ministry of Electricity finalises contracts for new power station in Banha
By Salah El-Monoufy The Yokogawa Company won a supply and installation contract for information control and transfer systems for the Banha electricity project worth EGP 10 million. A coalition of Japanese companies including Hitachi and Toyota won a supply and installation contract for mechanical systems for the project same projectworth EGP 165.5million. An Italian company, …
$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.
Arab countries study pan-MENA energy market
By Daniel Fineren / Reuters DUBAI: The Arab Fund for Economic and Social Development has commissioned a feasibility study for creating a single energy market from Morocco to Oman, the Italy-based consultancy who will conduct it said on Monday. CESI Middle East has been contracted by the Kuwait-based development fund to come up with a plan …
Cost inflation to rain on cement makers’ results
Some of the world’s largest cement makers report first-quarter earnings on Thursday with investors concerned that energy and materials inflation will spoil the industry’s recovery.