Siemens begins trial run of El Burullus plant on Tuesday
Siemens will conduct the first trial run of the Burullus power plant on Tuesday, government sources told Al Borsa. The company has already successfully tested the combined cycle plants at the new capital and Beni Suef power plants earlier this month. The Beni Suef plant will be connected to the national grid by the end […]
INSTOK representatives meet with Petroleum Minister to discuss investments in Egypt
Norwegian oil and gas industry association INTSOK sat down with Petroleum Minister Tarek El-Molla to discuss potential investments in the petroleum and natural gas sectors, according to a ministry statement. (Source: Enterprise.press)
Wall Street Journal: Egypt presses oil companies for more time to pay for fuel
The Wall Street Journal reports that EGPC called a meeting on Wednesday to ask energy suppliers to give it six months instead of the usual three to pay for LNG, crude and petroleum product orders now in the pipeline. The Journal says its unnamed source did not specify which suppliers attended the meeting; the paper […]
Total to invest $200 million in Egypt, up from initial reports of $100 million
Total is set to invest USD 200 mn in Egypt over the next five years, the cabinet announced, according to Reuters’ Arabic service. Al Mal had pegged the investment value at USD 100 mn on Wednesday, but noted that the company had plans to operate 10 new fuel stations annually over the five years. (Source: […]
Shell investments in FY 2015-16 increased by 15% to reach $450 million
Royal Dutch Shell has increased its investments in Egypt by 15% y-o-y to reach USD 450 mn, during FY 2015-2016, Oil Minister Tarek El Molla following a meeting with Andrew Brown, Shell’s global upstream director, Ahram Gate reported. Brown, who is visiting Egypt, added that the oil company sees promising investment opportunities in Egypt, particularly […]
Evolution of Global Energy Mix will shape future Oil & Gas investments, say UAE Energy Leaders
• ADIPEC 2016 Panel Sessions to Address Research and Technology, Operational Efficiency, and Investment Challenges and Opportunities. • Natural Gas Fastest Growing Fossil Fuel Globally, with 50% Increase in Consumption by 2040: World Energy Outlook. Oil and gas companies must demonstrate agility in their approach to business and adapt to a rapidly evolving supply mix […]
Total Egypt to invest $100 million in Egyptian market during next five years
Total Egypt is targeting investments worth USD 100 mn in Egypt during the next five years, the company’s Senior VP in Africa and the Middle East Stanislas Mittleman was quoted as saying according to Al Mal. He added that the company will open 10 new gas stations annually during the stated period. (Source: Enterprise.press)
Egypt finds other sources after halt in Saudi fuel shipments
Egypt’s oil ministry says it has secured imports of petroleum products from other sources to compensate for Saudi Arabia’s abrupt decision to halt previously agreed shipments of fuel. Ministry spokesman Hamdi Abdel-Aziz says that following the announcement of “urgent” tenders to import refined oil products, some shipments have already arrived. His comments were published on […]
Shell in talks with government to increase natural gas supply
Shell is currently in talks with the government in order to increase exports, as the government seeks to increase supply to the domestic market. The Egyptian government is slowly moving closer to increasing the domestic energy supply and restarting liquefied natural gas (LNG) exports, as the government continues negotiations with Shell to raise the volume […]
Egypt's Petroleum Ministry arrears to IOCs increase to $3.6 billion
Egypt’s Ministry of Petroleum’s dues to foreign oil and gas companies, cooperating with the Egyptian General Petroleum Corporation (EGPC), increased to reach about $3.6bn, compared to $3.5bn at the end of fiscal year (FY) 2015/2016. A senior source in the Ministry of Petroleum told Daily News Egypt that the ministry is to repay part of […]