Latest in Tag: Sherif Ismail Highlight
Latest in Tag: Sherif Ismail
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
Project to convert cooking oil into diesel to be announced this month: Hanafy
The minister highlighted that the money owed to foreign partners has reached $4.9bn.
Upcoming period is busy time for petroleum industry: Petroleum minister
Although there will be a $2bn in debts to foreign partners by year end, ministry has paid back $11.2bn to foreign companies during FY 2013/2014
Foreign partners demand government repays dues before increasing investments
Foreign companies operating in the oil sector have linked increasing their investments to their payment from the Egyptian government, in light of the government’s failure to keep to the repayment schedule that was previously agreed upon. According to an official at one of these foreign companies, the Egyptian government has no choice but to pay …
Government adjusts gas price from ‘Desouq’ project
130m square feet of gas to be linked to national gas grid in September 2014
Introduction of new gas wells will reduce power outages: Petroleum minister
A large part of foreign contracting for importing liquefied natural gas has been completed.
EIEC launches campaign urging Egyptians to lower electricity consumption
The initiative aims to decrease electricity consumption in households, commercial and industrial sectors by 20% this summer
EGP 135bn spent on subsidies for current fiscal year
By the end of the current fiscal year the amount spent on subsidies will reach approximately EGP 135bn, compared to the EGP 129 billion spent the previous year, according to Al Al-Mula. Petroleum Minister Sherif Ismail predicted that subsidies for petroleum products for the coming fiscal year will reach about EGP 140bn in case prices …
Petroleum ministry prepares bourse listing of new petrochemicals companies
By Muhammad Adel After amending the listing rules of companies in the Egyptian stock exchange, the Ministry of Petroleum is preparing an initial public offering (IPO) of new petrochemicals companies, said Samir Azer undersecretary of the Ministry of Finance. Following a meeting between Minister of Petroleum Sherif Ismail and chairman of EGX Mohamed Omran, the …
Ministers of Petroleum, Energy and Electricity inaugurate energy summit
By 2020, government aiming to meet 20% of the country’s energy needs using wind, solar and other renewable power sources
Ismail inaugurates a project to supply Hurghada power station
Hurghada power station was converted to work with natural gas instead of subsidised diesel.
Petroleum ministry kicks off experimental stage of smartcard programme
Mobil and Shell fuel stations nationwide equipped with experimental smartcards to test efficacy of system
Minister of Petroleum signs nine agreements with $470m in investments
Agreements are the first to be signed since 2010
Second stage of smartcard programme in the works: petroleum minister
Second stage implementation will follow delivery of smartcards to citizens and data entry
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