Oil & Gas News
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Egypt brings online new crude pipeline at al-Hamra port
The Hamra petroleum port lies around 120 kilometers west of Alexandria, Egypt’s second-largest city, and is run by the Western Desert Operating Petrol
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UAE's Dana Gas pledges proceeds of Egypt sale to repay sukuk
The sale of Dana’s exploration and production assets in Egypt could be complicated by the recent plunge in oil prices.
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Egypt did not import any liquefied natural gas in 2019
Egypt stopped importing LNG in September 2018 after major discoveries of gas fields in Egyptian territory in recent years.
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More and more oil and gas deals for Egypt
Around 70 agreements for oil and gas exploration were signed in the last 4 years as Egypt aims to become a regional energy hub.
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Egypt signs two deals with ExxonMobil
The deals involve a minimum investment of $332 million.
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Egypt holds domestic fuel prices steady
The price of 95-octane fuel was kept at 8.75LE($0.5472) a litre, 92-octane fuel at 7.75LE/litre and 80-octane fuel at 6.50LE/litre.
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Egypt signs $430m gas deal with Texas’ Noble Energy
The agreement requires the partner to pump natural gas through the East Mediterranean Gas Company's pipeline.
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Egypt's non-petroleum exports increase by 3%
Egypt's non-petroleum exports recorded a three percent increase during the first nine months of 2019, reaching $19.201 billion, up from $18.708 bn.
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Egypt’s petroleum minister advocates business over politics in gas-rich East Mediterranean
“I think that energy and, specifically now, gas is very important,” Tarek el Molla told CNBC’s Hadley Gamble at the World Energy Congress in Abu Dhabi
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Egypt still subsidises 15% of fuel in local market
These subsidies are despite the recent fuel price hikes applied on Friday.
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Dana Gas receives $48m from Egypt in June
These collections comprise $38million in payments from the government and $10 million from the sale of the second El Wastani condensate shipment.
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Egypt in $500 million settlement with Israel Electric Corp
Under the agreement, Egypt will pay the amount over a period of 8-1/2 years in exchange for the Israeli company dropping all other claims.
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Gas Market Regulatory Authority to transfer 25% of revenues to Finance Ministry
The authority is currently organizing the internal market for the domestic distribution of natural gas.
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Egypt's Petroleum minister confers with Saudi counterpart on joint cooperation
The meeting took place on the fringe of the World Economic Forum held at the Dead Sea resort city in Jordan.
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Shell appoints its former Tunisia chief to head Egypt business
Tunisian Kassem was named as chairman and managing director in Egypt.
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Egypt on track to end fuel subsidies
Egypt is on track to end subsidies on most fuels by June 15 as part of a reform programme led by the International Monetary Fund.
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Egypt’s non-oil exports hit $2.043 bln in January
Non-oil manufacturing exports amounted to $1.611 billion during the same month, whereas food exports registered $432 million.
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Egypt's petroleum ministry, Germany's DEA sign $20 mln energy exploration deal
The deal is in regards to oil and natural gas exploration in Ras Badran and Khaleeg El-Zeit in the Gulf of Suez.
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Egypt is shaping up to become a real energy hub
The large scale concessions awarded during the EGYPS2019 conference in Cairo showed the appetite of IOCs, such as Shell, BP and ENI in Egypt.
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Saudi Aramco and Egypt’s SUMED sign oil deals
The two signed a deal to supply fuel oil storage capacity of 165,000 cubic metres in the Red Sea port of Ain Sokhna.