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Siemens, Gamesa merge units to form world’s largest wind turbine maker

Posted: June 20, 2016 at 4:46 pm   /   Renewables

• Siemens will hold 59% of merged company; Gamesa gets dividend. • Companies have been in talks since the beginning of the year. Siemens AG and Gamesa Corp. Tecnologica SA agreed to combine their wind-turbine manufacturing businesses, creating a company that will dominate the industry and speed up consolidation triggered by competition and price pressures. […]

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Kuwait holds talks with Petroleum Ministry to refine oil in Egypt

Posted: June 19, 2016 at 9:12 pm   /   Oil & Gas

A delegation from Kuwait Petroleum Corporation (KPC) had talks with the Egyptian petroleum minister over the possibility of refining the Kuwaiti oil in Egyptian refineries, according to a statement issued on Friday. The studies included the increase of shipping and storage facilities in SUMED’s location in Ain Sukhna and Sidi Kerir, as well as raising […]

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EFG Hermes' Vortex Energy closes €550 million wind farm deal

Posted: June 19, 2016 at 9:08 pm   /   Renewables

Egypt’s EFG Hermes said on Thursday that its renewable energy platform, Vortex, had bought a 49 percent stake in an operational 664 MW portfolio of European wind assets from EDP Renovaveis for 550 million euro ($618.26 million). The deal doubled Vortex’s private equity assets under management to $1.1 billion, and took the group’s total to […]

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Video: GE Oil & Gas – Bringing collaborative robots to the subsea industry

Posted: June 19, 2016 at 8:50 pm   /   Oil & Gas

We are hard at work creating the Brilliant Factories of the future. By combining our experts’ deep domain knowledge of subsea applications with expertise in the world of intelligent machines, we are introducing next generation, collaborative robots to our facilities around the world. (Source: GE Oil & Gas)

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ICC tribunal assignment spells success for Egyptian EGAS

Posted: June 18, 2016 at 5:08 pm   /   Oil & Gas

An ICC tribunal has rejected claims for contractual penalties worth more than US$270 million plus interest against Egypt’s state-owned natural gas supplier EGAS, finding that the claimant had assigned all its rights under a gas supply contract to a third party. Counsel to EGAS, Shearman & Sterling, reports that a tribunal composed of David St […]

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ABO: Egypt dreams of new pipelines crossing the Red Sea

Posted: June 18, 2016 at 4:21 pm   /   Oil & Gas

The latest agreement between the government of Cairo and Aramco is just one of the pieces that make up Egyptian strategy, created to transform the country into a regional energy hub. The aim is ambitious but feasible with the financial help of the Gulf countries. Egypt could become a world class energy hub, not only […]

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Bloomberg: Egypt exports rare LNG cargo to Japan in midst of newfound buying binge

Posted: June 18, 2016 at 4:21 pm   /   Oil & Gas

• Japan’s Tohoku Electric says it buys cargo loaded from Egypt. • Egypt exports second LNG cargo this year after halt in 2015. One of the world’s newest liquefied natural gas importers is again shipping out the fuel. Egypt, which last year began importing LNG to meet domestic demand while halting shipments from two multibillion-dollar […]

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Details of Apache lawsuit against its former Egypt executive emerge

Posted: June 16, 2016 at 9:56 pm   /   Oil & Gas

According to court documents obtained by Energy Egypt, former head of Apache’s Egypt operations, Mr. Tom Maher, allegedly arranged meetings between Apex CEO Roger Plank and the Egyptian Minister of Petroleum Tarek El-Molla, and between Plank and the United States Ambassador to Egypt, and downloaded more than 230,000 Apache files to as many as nine […]

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Video: Liquefied Natural Gas LNG value chain (ExxonMobil)

Posted: June 16, 2016 at 9:42 pm   /   Oil & Gas

An animation describing the full LNG value chain of production, liquefaction, transportation, and regasification. (Source: ExxonMobil)

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Egypt stands out in IEA's Africa Gas Outlook

Posted: June 16, 2016 at 9:38 pm   /   Oil & Gas

Both supply and demand average growth rates for African gas will exceed world average growth of 1.5%/yr between 2015 and 2021, forecast the IEA’s 2016 world Medium Term Gas Market Report (MTGMR), released last week. The continent’s gas production and supply is expected to grow by 2.2%/yr on average during that period, driven by Egypt […]

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