Pharos Energy to farm out interest in El Fayum, North Beni Suef Concessions to IPR
Pharos Energy has announced that the Pharos Group has entered into conditional agreements for the farm-out and sale of a 55% working interest and operatorship in each of the Egyptian El Fayum and North Beni Suef Concessions to IPR Lake Qarun Petroleum, a wholly owned subsidiary of IPR Energy. The consideration implies a gross (100%) value of up to US$115 million for the Assets and consists […]
Cairn expects to finalize Shell Egypt onshore assets acquisition by end of month
Cairn, Cheiron could replace Shell in the Western Desert before the month is out: Cairn Energy and partner Cheiron expect to finalize its takeover of Shell Egypt’s onshore oil and gas assets by the end of September, Cairn said yesterday. The joint acquisition, which will see the assets split 50-50 between the UK-listed company and leading Egyptian […]
Egypt and UAE to set up JV for manufacturing dual-fuel trucks
Egypt, UAE to jointly assemble dual-fuel trucks: A joint venture between an Emirati industrial company and the Egyptian military will be set up to locally assemble pickup trucks equipped with dual-fuel engines capable of running on natural gas, the cabinet said in a statement on Monday. The Military Production Ministry will produce the vehicles with M Glory […]
Wintershall Dea sees output rise from new production coming online in Egypt, Russia
Q2 2021 Results: Strong financial performance and continued progress on our strategic priorities. Wintershall Dea, Europe’s leading independent gas and oil company, today reported its second quarter 2021 results. Mario Mehren, Wintershall Dea Chairman & CEO, commented: “Q2 proved to be an excellent quarter for Wintershall Dea. Our strong operational and financial performance allowed us to […]
Saudi service station provider Aldrees Petroleum plans Egypt expansion
Saudi’s Aldrees Petroleum looks to grow in Egypt. Saudi Arabia’s Aldrees Petroleum and Transport Services is planning to expand into Egypt by opening 60 fuel stations in the country during 2H2021, according to Arab News. Aldrees has reportedly submitted a request to acquire existing service stations in Egypt, but is awaiting a response. The Saudi […]
Apache CEO meets President Sisi to discuss Company’s Investments and Modernization Efforts in Egypt
CEO of Apache Corporation, John J. Christmann, met with H.E. Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, on July 14th, 2021 to discuss business relations between Egypt and the United States of America and Apache’s work with the Ministry of Petroleum and Mineral Resources supporting the ongoing modernization of Egypt’s oil and […]
Egypt to invest $3-4 billion in green hydrogen projects – Electricity Minister
We may be seeing major announcements soon in green hydrogen as part of an initiative that could cost some USD 3-4 bn at its early stages, Electricity Minister Mohamed Shaker told reporters on the sidelines of the ongoing forum of the heads of African investment promotion agencies in Sharm El Sheikh. Studies for one of […]
Tapping into the Sun at Home: Residential Solar Benefits, ROI, Installation, and Upkeep
The Complete Guide to Residential Solar Benefits, Installation, and Ownership Solar panels convert light from the sun into electricity. They are used to charge remote power systems, operate telecommunications equipment, and keep homes and businesses running. Although a solar array requires a substantial initial investment, solar panels are an energy-efficient upgrade that have many benefits, […]
Saudi’s Petromin Corp enters the bidding race for Wataniya Petroleum
The bidding war for the army’s Wataniya Petroleum is heating up: Saudi industrial oils giant Petromin is throwing its hat in the ring in what’s shaping up into a bidding war for Wataniya Petroleum, Bloomberg reports, quoting sources familiar with the matter. The company will compete with each of Qalaa Holdings’ Taqa Arabia, Dubai’s state-owned […]
TAQA Arabia, National Bank of Egypt sign EGP 916mn financing contracts
Abou Elfotouh: “NBE strives hard to support projects that aim to maintain the State’s economic stability, by securing strategic commodities, including petroleum products.” Kafafi: “Throughout our expansion plan, TAQA Arabia seeks to reach 200 CNG stations by 2023.“ Mofeed: “TAQA Arabia values the fruitful cooperation with NBE; Egypt’s largest financial institution in digitizing our services […]
