Petrochemicals News
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Egypt to invest $14.5B in petchems, refining over five years
Egypt is also considering floating stakes in some state-owned oil companies on the Egyptian stock exchange.
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Construction of $7 billion naphtha cracker to start soon in Egypt
The new factory will be the largest liquid naphtha cracker in the Middle East, requiring investment of $7 billion.
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Port Said first governorate to fully apply Smart-Card system
Port Said was chosen as a pilot governorate for the implementation of the Fuel Smart-Card system in Egypt.
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IDB approves $425 mn loan to Egypt
Loans will help fund development of petroleum refinery and first phase of redevelopment work at Sharm El-Sheikh airport.
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UAE to provide Egypt with $8.7 bln petroleum products
"We will complete all the details this week and the first shipment will be sent next week," the official said, referring to the UAE agreement.
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Government bodies owe Petroleum Authority EGP 163bn
The Ministry of Finance has accrued EGP 95bn in debt owed to the Petroleum Authority, which includes some EGP 32bn for subsidy differentials.