Oil & Gas News
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Egypt confirms no rise in fuel prices
Egypt is to implement the long-planned smart card system for fuel at gas stations on 15 June.
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Egypt Gas loses EGP 17.3m in Q1 2015
The company witnessed a workers’ strike in April.
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Egyptians brace for dark summer despite authorities' pledge to solve power cuts
The government of President Abdel-Fattah El-Sisi has said it will put an end to the outages by adding 6 gigawatts of electricity to the national grid by the end of the calendar year.
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Egypt to see $30bn investment in coal industry by 2020: Minister
Egypt suffers from an energy shortage that has hit production in the manufacturing industry and leads to frequent power blackout.
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No access to subsidised fuel without smart cards: Official
The new system regulating fuel consumption will be enforced in mid-June.
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Technical studies for Cypriot gas imports to be finished by June
Private sector may participate in deal, Gas Utility Regulatory Authority will issue importing licences.
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Egypt’s non-oil private sector extends contraction in April: HSBC
Business conditions in Egypt’s non-oil private sector economy worsened driven by an ongoing decline in employment.
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Egypt issues tender for second LNG import terminal -gas board official
Egypt has struck a number of LNG supply deals, including a March agreement with Russia's Gazprom to import 35 cargoes of LNG.
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Mubarak era business tycoon offers LE4.6 bn for reconciliation with government
One of the most prominent cases against the business tycoon involves exporting natural gas to Israel below market rates, resulting in losses to Egypt.
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Egypt's Sisi approves $500 mn World Bank loan to expand natural gas grid
Earlier this month, the government signed a $400 million loan with the Bank for a pension welfare project which currently benefits 1.5 million poor Egyptian families.
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ADNOC to start monthly oil product deliveries to Egypt next week -source
The deal to supply the products was agreed last year.
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Egypt to import $3.55 bn worth of LNG in 2015-16
Rising consumption and falling production has turned the country from an energy exporter to a net importer.
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Egypt’s MIDOR signs $1.4 bn deal to expand refinery
The investment is part of a wider plan by the petroleum ministry to raise the domestic production of refined oil following an energy crunch that has lasted more than four years.
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New oil discovery in Western Desert
A well was drilled in the end of January and tests showed that it has layers of hydrocarbons.
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Egypt to begin LNG imports as floating terminal arrives
Hoegh signed a five-year contract with Egypt in November 2014 to provide the import terminal and the country has since agreed to a number of LNG import deals.
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Egypt: Fuel subsidy bill down 30%
Egypt spent 44.8 billion Egyptian pounds on fuel subsidies in the first half of the current fiscal year.
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Egypt's Sidi Kerir to pay dividend of LE1.65 per share
Petrochemicals firm posted annual net profits of LE996.6 million for the year ended in December, down from LE1.3 billion the previous year.
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Thailand's PTT keen to sell stake in gas pipeline business in Egypt
PTT bought the stake in EMG for $487 million.
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Mashreq Petroleum storage project on track
Mashreq aims to take in a foreign partner to cover 40 per cent of the expenses of the second phase.
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MOPCO lists on EGX with EGP 2.3bn
MOPCO is third biggest nitrogen producer globally