Latest in Tag: petroleum Highlight
Latest in Tag: petroleum
Social solidarity minister exempts public banks and oil companies from maximum income law
Boraie says decision was made to retain ability of sectors to compete with private sector
Ministry of Petroleum considers 20% IPO for MIDOR
Float expected to earn more than $1 billion and financial adviser to be hired beginning of 2014
Low gas supplies cut into cement production
Titan Cement Company suggests coal as alternative energy source
Ministry of Electricity denies corruption accusations
Ministry of Electricity and Energy condemns allegations made by former minister of petroleum Osama Kamal that it had imported low quality power stations
Arafat: Petroleum market witnesses unprecedented stability
Arafat asserted that he had recently met with Petroleum and Mineral Resources Minister Sherif Ismail, in order to explain the Division’s vision for the future regarding problems set to be faced by the sector.
Libya deal and Gulf aid secure oil for Egypt
Under new agreement Egypt will import up to 1m barrels of crude oil per month, while Gulf aid continues to flow
A solution for Egypt’s fuel crisis?
The recurring petrol and diesel crises have left Egypt’s streets paralysed and the people angry. Despite the continuity of the diesel crisis throughout the past months, the petrol crisis is primarily affecting Egyptians from middle and upper classes, a phenomenon unprecedented on the current scale. The government has promised the crisis will end once the new smartcard system is in effect. The Daily News Egypt reviews the new system and asks people about the system’s feasibility and convenience to their needs.
Petroleum ministry denies fuel shortage
EGPC says consumption currently 10-20% above normal levels; Prime Minister Qandil blames smuggling
NBE approves $1bn loan to Egyptian General Petroleum Corporation
EGPC has to obtain a guarantee from the Ministry of Finance.
Sumed employees hold a sit-in
Protesting employees demand the removal of administration members while the administration files a report against them
Fuel production rise to combat shortages
Minister of Petroleum plans to increase fuel production in attempt to meet demand and address nationwide electricity crisis
Finance Minister: New reform plan for petroleum sector
Aim to provide electricity subsidies and ensure the safe transport of gas to factories
Cabinet division over fuel subsidies programme
Recent statements made by the petroleum minister regarding the fuel subsidies programme have caused intense controversy within Prime Minister Hesham Qandil’s government.
E-Finance to operate new electronic petroleum subsidies programme
Electronic payments specialist beat joint NBE-Banque Misr bid for the contract
A paralysed city: The diesel fuel crisis
Though it is not the first time a gas or diesel shortage has plagued Cairo and several other governorates, the recent crisis in Egypt has left the capital city paralysed due to a major strike organised by microbus drivers. It seems these strikes by transport drivers are much larger than they have been in the past. Daily News Egypt investigates the mounting diesel fuel problems in the country, looking at how they are affecting ordinary citizens and what the government is doing in response.
Turkey defies allies to pursue Iraqi Kurd energy ties
Ankara had initially refused to engage in official contacts with Iraqi Kurds, fearing that the establishment of an independent Kurdish state there could embolden its own Kurds
Egypt seeks to meet energy needs
EGPC is seeking to buy 968 thousand tonnes of diesel to be delivered between April and June
Fuel for electricity costs EGP 26.9 billion after new price hike
Petroleum, electricity and finance ministries to hold discussions about price raise
Rebel Economy Wrap
The oil curse explained
Kuwait injects $60.5 million into Egypt’s gas sector
The Kuwaiti government, represented by the Kuwait Fund for Arab Economic Development (KFAED), has a signed a deal to loan 17 million Kuwaiti Dinars ( $60 million) to aid the expansion and development of the Egyptian natural gas distribution grid. In the presence of Prime Minister Hesham Qandil, the Minister of Planning and International Cooperation …
PM orders formation of technical committee to resolve electricity crisis
The efforts to solve the electricity crisis continue
Petroleum Ministry raises diesel quota for electricity stations
Fears of supply shortages arise as Petroleum minister decides to channel more diesel to power stations
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 …
Petroleum Minster stresses subsidies’ rationalisation
By Ahmed Mokhtar Abdullah Ghorab, Minister of Petroleum and Mineral Resources, has said that the petroleum sector was able to persevere and see some success, despite the difficulties that have faced the Egyptian economy and negatively impacted a number of sectors. He noted that petroleum workers performed well despite the significant increase in demand for fuel …
$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