Newsletter subscribe
Tag: Downstream
Qalaa ERC Construction

Qalaa Holdings eyes increasing stake in Egyptian Refining Company

Posted: May 9, 2018 at 12:30 pm   /   Oil & Gas

Qalaa eying additional stake in Egyptian Refining Company: Qalaa Holdings announced yesterday that it is looking to increase its ownership of its greenfield Egyptian Refining Company (ERC) by acquiring or subscribing to additional shares in its subsidiary Orient Investment Properties, Qalaa said in a regulatory filing. ERC recently completed a project finance restructuring that saw […]

No Comments read more
Toyota Tsuscho

Toyota Tsusho discusses investment in Egypt’s petrochemical sector

Posted: May 3, 2018 at 1:14 pm   /   Oil & Gas

The Japanese Corporation discussed participation in hydrocarbon cracking for diesel fuel project at the Assuit Oil Refining Company (ASORC) plant, with investments worth $1.9 billion, says El-Molla. Minister of Petroleum and Mineral Resources Tarek El-Molla revealed in a press statement on Tuesday that he discussed with a delegation from Japan’s Toyota Tsusho Corporation the possibility […]

No Comments read more

Qalaa's Chairman: Egypt is ready to be regional energy hub

Posted: April 25, 2018 at 2:24 pm   /   Oil & Gas

With gas production in full swing across a number of sites in Egypt, the country is ready to become a key exporter of energy in the region and beyond, the chairman and founder of investment firm Qalaa Holdings told CNBC. “In the oil and gas sectors Egypt remains a very important player,” Ahmed Heikal, told […]

1 Comment read more

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

Posted: April 22, 2018 at 4:36 pm   /   Oil & Gas

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 […]

No Comments read more

Carbon Holdings sponsors Squash World Champions Ali Farag and Nour El Tayeb

Posted: April 14, 2018 at 4:53 pm   /   Oil & Gas

Sponsoring the Egyptian squash duo reflects Carbon Holding’s commitment to supporting young athletes as part of the company’s mandate to positively impact Egyptian society. Carbon Holdings, a leading integrated petrochemicals producer in Egypt, is pleased to announce that it signed a sponsorship agreement with Egyptian world squash champions Ali Farag and Nour Al Tayeb as […]

No Comments read more

Carbon Holdings plans potentially the largest IPO in Egypt since 2011

Posted: March 11, 2018 at 8:40 pm   /   Oil & Gas

Carbon Holdings has reportedly tapped a top investment banking house to serve as advisor and global coordinator for an IPO that would value the company north of USD 1 billion, we’re told by sources with knowledge of the preparations. The stake sale is likely to be the largest IPO in Egypt since 2011; the structure […]

No Comments read more

Qalaa Holdings' ERC expects to recover cost of delayed launch in six years

Posted: March 6, 2018 at 11:57 am   /   Oil & Gas

Qalaa Holdings’ Egyptian Refining Company (ERC) expects to recover the cost of its delayed launch in six-years’ time, Managing Director Mohamed Saad told the press yesterday, Reuters reports. The company is on track to begin trial operations at the Mostorod facility in 3Q2018 and launch operations by the end of 2018 or early next year, […]

No Comments read more

Aramco to supply Egypt's refineries with crude oil for 6 months

Posted: March 4, 2018 at 8:38 pm   /   Oil & Gas

Saudi Aramco, the world’s largest oil producer, agreed to supply Egyptian refineries with crude oil for six months, starting January 2018, Egypt’s Petroleum Minister Tarek El Molla told Reuters on Thursday. Aramco will supply 500,000 barrels per month of crude oil to Egyptian refineries, Molla added. (Source: Reuters)

1 Comment read more

SIDPEC selects Honeywell UOP, W.R. Grace to construct propylene, polypropylene factories

Posted: March 4, 2018 at 8:23 pm   /   Oil & Gas

Sidi Kerir Petrochemicals (SIDPEC) has selected Honeywell UOP and W.R. Grace & Co to construct its planned propylene and polypropylene factories, respectively, SIDPEC announced yesterday, Al Shorouk reports. SIDPEC had received six offers for the licenses to construct the factories. The propylene facility has a targeted production output of 500k tonnes per annum, while the […]

No Comments read more

Qalaa’s ERC completes financial restructure & signs joint-venture with GS, Mitsui

Posted: February 23, 2018 at 3:32 pm   /   Oil & Gas

Qalaa’s Egyptian Refining Company completes financial restructuring as it drives to completion. Qalaa Holdings subsidiary Egyptian Refining Company (ERC) has reportedly completed a project finance restructuring that has seen the company take on new loans and equity commitments valued at around USD 500 mn, according to a press release from law firm Freshfields Bruckhaus Deringer, […]

No Comments read more