KarmSolar signs EGP 230 million loan agreement with Banque Misr
KarmSolar has signed a EGP 230 mn loan agreement with Banque Misr to build 24 MW solar power plants, CEO Ahmed Zahran told the local press. Zahran did not say how many plants the company will establish with the money. KarmSolar is also in talks with five local and international banks for a EGP 1 […]
Neptune acquires Edison’s North Sea assets from Energean in $250m deal
UK operator inks conditional deal worth up to $280m for non-core E&P holdings with Energean. Energean to hive off Italian group’s Norwegian and UK projects once its purchase completed. Neptune Energy has entered into a conditional sale and purchase agreement with Energean to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for […]
United Oil & Gas’ acquisition of Rockhopper to close by 4Q2019
United Oil & Gas’ acquisition of Rockhopper Egypt “progressing well”: Rockhopper Exploration’s sale of its Egypt business to Irish energy company United Oil & Gas is on track to be completed by the end of 4Q2019, Rockhopper said in a statement yesterday. Rockhopper and United had signed a USD 16 million share purchase agreement in […]
Lightsource BP eyes projects worth $8 billion amid expansion plans
BP’s solar energy arm eyes $8 billion worth of projects amid expansion plans. Lightsource BP, in which the major took a 43 per cent stake in 2017 eyes possible expansion in China and Australia – Lightsource BP chief executive Nick Boyle said he was targetting 10GW capacity build-up by 2023. Lightsource, the solar arm of […]
Egypt’s Offshore Red Sea Oil & Gas exploration Bid Round closes today
The Red Sea oil and gas exploration tender ends today, with bids from major oil producers expected to be announced later. Shell, ExxonMobil, Statoil, Dragon Oil, Russian Rosneft and Total have all reportedly bidding for 10 oil and gas exploration blocks off the Red Sea coast under a new production sharing contract, which were tendered […]
Dana Gas considers multiple scenarios for sale of Egypt assets
Dana Gas considers multiple scenarios for sale of Egypt assets, will decide in November: Dana Gas is considering offloading remaining arrears owed to it by the Egyptian state on to whoever ends up buying its Egyptian assets, CEO Patrick Allman-Ward told the UAE’s Al-Ittihad newspaper on Wednesday. Speaking on the sidelines of the World Energy […]
Qalaa announces operation of Hydrocracker unit at ERC Refinery
Qalaa Holdings announces the successful operation of the Hydrocracker in its flagship project Egyptian Refining Company “ERC”. All the project units are now operating. Qalaa declares all units at ERC are a go: The Egyptian Refining Company (ERC) has successfully begun hydrocracker operations, Qalaa Holdings said in a bourse filing on Thursday. With that, all […]
El Molla talks investment in Egypt with Heads of UAE Oil Companies at WEC
Oil Minister Tarek El Molla met yesterday with Emirati Minister of State and CEO of the Abu Dhabi National Oil Company (ADNOC) Sultan Al Jaber to talk investing in Egypt’s oil and gas sector, according to a Ministry statement. El Molla also discussed the ongoing cooperation in airplane refueling in Egyptian airports with Emirates National […]
Dana Gas receives offers for its $500 million Egypt portfolio of assets
The UAE’s Dana Gas has received offers from companies interested in buying its USD 500 million Egypt portfolio, the company’s head of investor relations Mohammed Mubaideen told Mubasher. The company could potentially sell all of its assets in Egypt, depending on the offers it receives, Mubaideen said, adding that the deadline to receive offers is […]
Apache JV Qarun Petroleum drilled 10 Western Desert exploration wells
Qarun Petroleum, a joint venture between Apache and the Egyptian General Petroleum Company, has drilled 10 exploratory wells in the Western Desert, producing a combined 5k bbl/d, the Oil Ministry said in a statement yesterday. This will account for 16% of the company’s total production. The company is now considering investing USD 237 million during […]
