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Egypt, EU sign Memorandum of Understanding for energy cooperation
Electricity & Power / Oil & Gas / Renewables

Egypt, EU sign Memorandum of Understanding for energy cooperation

Egypt and the European Union continue to share strong bilateral energy relations as well as an understanding of the opportunities and challenges facing the region. Partnership in the energy sector comes on top of the areas of common interest between Egypt and the EU in view of its importance as a driver of economic growth … Continue reading

Yorktown to sell its Egypt oil & gas business Merlon
Oil & Gas

Yorktown to sell its Egypt oil & gas business Merlon

Private equity firm hopes to raise up to $400 million. Citigroup running process, bids expected by July. Private equity firm Yorktown Partners is selling its Egyptian-focused oil and gas company Merlon International, hoping to raise up to $400 million, two banking sources told Reuters. The process is being run by Citigroup and bids are expected to be … Continue reading

Oil & Gas

Carbon Holdings to reach financial closure for Tahrir Petrochemicals Complex by year end

Carbon Holdings aims to reach financial close on $10.6 billion Tahrir petrochemicals complex by year’s end, CEO Basil El Baz says. Carbon Holdings is covering 26% of the project’s cost, with the remainder set to be funded by development finance institutions from the US, Germany, and the UK. Tahrir Petrochemicals will be built in the … Continue reading