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Rates of consumption of diesel throughout year range from 1.1 to 1.2m tonnes per day
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 …
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 …
Ongoing discussion in regards to increasing FY 2017/2018 investments with Apache’s officials, says Abdel Azim
The ministry issued a tender to secure November’s needs of petroleum products
We seek to repay part of the dues before the end of 2016, says source
$3.8bn investments of BP in Atul field for producing 300m cubic feet of gas in December 2018
Egypt currently consumes about 73m tonnes of oil, 33m tonnes of this is directed to the electricity sector
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 …
After stopping 9B stage, BG asks government to raise the price of gas to $7 or pay $1bn immediately
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.
Studies to assess layers and reserves are being conducted to determine required investments, says official
El Molla assured that no Ministry of Finance budget will be allocated to import gas
1.1bn oil barrels of reserve for the “9” zone in Basra
Prime Minister Ibrahim Mehleb formed a committee to fix the current financial issues between the Ministers of Petroleum, Finance, and Electricity.
Total foreign investment, which is being pumped this year, is estimated at $7.5bn.
Contract signed to supply diesel production to EGPC at global prices for 25 years
Operating Helwan, Al-Qawmeya, and Al-Katameya plants only due to their link to Gharadiq field
The source said that during the summer, fuel suppliers offered fuel at $600 per tonne, with sulphur rates higher than required in the bid.
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.
Government delayed signing with Hog Energi, led to lack of supply during September, says Ministry of Petroleum
EGPC, petroleum sector companies register EGP 72.2bn profit during FY 2013/2014
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 …
LNG will not be sufficient to meet actual needs of all sectors: Medhat Youssef
UAE will provide Egypt with diesel, fuel oil, petrol and butane gas at a value of $800m monthly
“Thugs” forcing fuel stations to sell at old price yet police are unresponsive, petrol station manager
SAIB has arranged this syndicated loan which includes other 13 banks.
Agreements are the first to be signed since 2010
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
By: Farah Halime Billions of dollars of financing earmarked for Egypt is mounting up behind an International Monetary Fund (IMF) dam. Until Egypt agrees a final deal with the IMF for a $4.8 bn loan package, none of the estimated $14.5 bn in additional financial support and aid will be released. The effects of the …