Latest in Tag: Oil Highlight
Latest in Tag: Oil
Continuing decline in Brent prices positively impacts Egyptian economy
“We will not increase fuel imports because the financial resources are not available,” says EGPC chairman El Molla
Government hopes to pay full debts owed to foreign partners over coming 6 months
Debts owed to foreign companies have plagued all governments since 2008
FDI in oil and gas unaffected by Egypt’s instability
Political instability in Egypt and other Arab countries had negative effect on non-oil manufacturing activities
Cost of development behind stranded gas: Petroleum officials
Around 36 concession agreements in which 153 wells to be drilled have been ratified
BP to invest $240m in Egypt through 2 new exploration blocks
The two exploration blocks was awarded to BP as a result of the 2013 EGAS bid round
Italian animator wins ‘The Golden Pyramid’ at Cairo International Film Festival
Massi, who has won over 200 awards in major festivals in Italy and internationally, draws everything by hand instead of using computers
Initiative produces biodiesel from used cooking oil
Green Pan collects used vegetable oil from restaurants, hotels and houses to produce up to 2 tonnes of biodiesel daily
As much as 20% or more of Egypt’s energy could be solar: Consilio CEO
Solar energy is a supplemental source as it requires subsidies and storage to meet peak hours
Poor technical conditions in power stations worsen due to outages and wasted fuel: EGAS official
Petroleum ministry supplies fuel to electricity worth approximately $72m per day
Second phase fuel smart-card distribution to save EGP40bn: Former petroleum minister
The government has so far distributed 2.6m out of the targeted 4.5m smart cards, said Tareq Al-Mula, chairman of the Egyptian General Petroleum Company (EGPC).
EGAS halts pumping of gas to Idku plant
The Egyptian Natural Gas Holding company (EGAS) has stopped pumping gas to the Idku liquefaction plant operated by British Gas and GDF Suez, as a result of the increased use of gas by power stations, according to a senior official at EGAS. He added that since last year, the quantity of gas pumped from EGAS …
Power crisis threatens industrial sector
Daily reduction of 725m cubic feet of gas at factories; gas supply to EBIC, Alexandria Fertilizers, and Egyptian Fertilizers stopped
Government bodies owe Petroleum Authority EGP 163bn
Several government agencies have stopped paying for fuel products they are receiving from the EGPC in light of their need for this money in order to pay dues they owe to partners and banks. Dues owed to the Petroleum Authority by government agencies are approximately EGP 163bn, according to an official at the Ministry of …
Dues to foreign companies increase by $300m
Dues to foreign companies operating in the oil sector have increased by $300m, while the government’s inability to pay such an amount – even as it repays small portions of its debt – has lead to an accumulation of the total debt to an estimated $6bn. The value of the foreign partner’s share, crude gas …
Egypt’s power crisis worsens as outages approach five hours per day
Electricity deficit increases to approximately 6,180MW, no solution in sight
Artist draws 52 metre mural documenting revolution
Egyptian artist Taha Al-Korany painted 20 oil on wood pieces, reflecting impressions about “the most significant” points of revolution
Government to import gas at $17 per million BTUs due to poor domestic gas production
EGAS seeks to encourage foreign partners to produce gas from Egyptian fields, company official said.
Industry, food and metal production rose during 2012: CAPMAS
Risen value of several commodities influenced production value, government statistics agency indicates
Egypt ceases supplying gas to Jordan indefinitely: EGAS
The official noted that the contracted amounts of gas exports to Jordan are 255m cubic metres of gas daily.
Delay in imports of gas for electricity threatens the industrial sector in Egypt
EGAS stopped pumping gas to MOPCO, EFC, and EBIC factories; reduction of 80% of gas needs of cement plants
Ganoub El-Wadi proposes international tender for oil and gas exploration
Recent fuel price rise may provide incentive for investments in exploration in Egypt
Petroleum ministry proposes petrochemical projects worth $540m to UAE
Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum. The projects included establishing a factory to produce bio-ethanol from molasses, the output of which would reach 100,000 tonnes of molasses annually, with investment in the project totalling $250m. The …
Industrial Development Authority to reclassify ‘energy intensive’ industries
IDA is looking to categorise factories by energy consumption in order to approve industry projects that do not need large amounts of electricity
Petroleum companies operating in Egypt have reduced gas production: Ministry report
Delayed payment of debts to foreign partners threatens Egyptian gas production, says report
Dues owed to foreign oil and gas companies reach $6.3bn in July
Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April, according to Tareq Al-Mula, president of the Egypt General Petroleum Corporation (EGPC). The government will pay at least $1.5bn of these receivables to these foreign companies by the end of the year 2014, according …
Egypt seeking to provide next payment tranche to foreign petroleum partners
Delays in payments have hindered development, exploration and production in oil fields
Non-oil exports hit $11.8bn since beginning of 2014
Exports continue to rise for the second consecutive month, after a series of dips during the first five months of 2014
UAE willing to invest in oil sector, choosing between current projects: Petroleum minister
Egypt discussed setting up pipelines and depots with Abu Dhabi
Cement production to be impacted by energy cuts and higher fuel prices
The government’s decision to cut natural gas subsidies to factories followed shortly after the reduction of petroleum subsidies on Saturday.
‘No shame’ in Egypt using Israeli gas through British oil Company, after state’s approval: Petroleum minister
Egyptian government struggles to contain discontent of BG Group, which had to stop supplying Egyptian gas for export because of fuel shortage