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Tag: Investment
KarmSolar

KarmSolar to raise EGP 500 million for first phase of expansion plan

Posted: September 15, 2018 at 7:58 pm   /   Renewables

Attijari Finances signs an agreement with KarmSolar to act as Advisor and coordinator for the fastest growing Egyptian solar energy company. KarmSolar, Egypt’s fastest growing solar energy solutions company, has signed an agreement with Attijari Finances to act as KarmSolar’s global advisor and coordinator for the company’s equity fundraising process. This move comes as part […]

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Tahrir Petrochemicals

Carbon Holdings says construction on TPC could start in 1Q2019

Posted: September 12, 2018 at 1:32 pm   /   Oil & Gas

Carbon Holdings expects to break ground on the first phase of its Tahrir Petrochemicals Complex (TPC) early in 2019 after it reaches financial close on the USD 10.9 billion project late this year, Managing Director of Corporate Finance and Investor Relations Karim Helal tells Al Masry Al Youm. The company had previously announced plans to […]

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Hesham Mekawy

BP plans to invest $2 billion in Egypt next year – Mekawi

Posted: September 12, 2018 at 1:28 pm   /   Oil & Gas

BP is planning to invest USD 2 billion in Egypt in 2019, BP North Africa Regional President Hesham Mekawi tells Al Shorouk in an interview. BP Group CEO Bob Dudley had said back in February that the firm was investing USD 1 billion in 2018. Mekawi suggested that BP invested a total of USD 2.5 […]

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ERC

Qalaa looks to increase its stake in Egyptian Refining Company ERC

Posted: September 5, 2018 at 12:27 pm   /   Oil & Gas

Qalaa Holdings is in talks to increase its stake in the Egyptian Refining Company (ERC) through a capital increase, Managing Director Hisham El Khazindar said yesterday. The refinery is now 98% complete and is expected to be a major driver of revenue expansion starting next year. El Khazindar told Al Mal that trial operations at […]

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PM Eni

Egypt’s PM, Eni’s CEO discuss future of oil & gas discoveries

Posted: August 29, 2018 at 2:29 pm   /   Oil & Gas

PM Mostafa Madbouly and Eni CEO Claudio Descalzi discuss future of oil and gas discoveries in the country. Prime Minister Mostafa Madbouly held a meeting on Tuesday with Eni CEO Claudio Descalzi on the future of oil and gas discoveries in Egypt, state agency MENA reported. During the meeting, Madbouly expressed his appreciation for the […]

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BP

BP invested $35 billion in Egypt over five years – Regional President

Posted: August 29, 2018 at 1:43 pm   /   Oil & Gas

BP produces 10% of Egypt’s oil, condensates production, 50% of gas, says Mekkawi. Hesham Mekkawi, regional president of BP, North Africa said that the company’s investments have amounted to $35 billion in 5 years in Egypt. He added that the investors are BP’s activity in Egypt is in the exploration and production of oil and […]

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Apache

Apache to increase its annual exploration investment in Egypt to $1 billion

Posted: August 26, 2018 at 1:06 pm   /   Oil & Gas

U.S. corporation Apache announced plans to increase its annual oil and natural gas exploration investment in Egypt to about 1 billion U.S. dollars, the Egyptian Petroleum Ministry said in a statement on Tuesday. Apache CEO John Christmann said following a meeting with Egypt’s Petroleum Minister Tarek al-Molla that his company’s move “reflects the importance of […]

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Halliburton

El-Molla, Halliburton discuss cooperation on oil & gas marketing platform

Posted: August 5, 2018 at 8:57 pm   /   Oil & Gas

Oil Minister Tarek El Molla met with Halliburton’s President of Eastern Hemisphere Joe Rainey to discuss cooperation in setting up an electronic platform for marketing available concessions for oil and gas exploration and production, under two agreements signed back in April. Minister of Oil Tarek el-Molla on Thursday discussed co-operation over petroleum projects with Joe […]

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EGPC

Egypt close to settling debts to international oil companies

Posted: August 1, 2018 at 1:39 pm   /   Oil & Gas

Egypt is expected to achieve self-sufficiency in natural gas by the end of the year and exports are to resume by next year. Egypt is close to repaying debts to foreign petroleum companies, a sign of economic recovery and an important step towards attracting investments in the petroleum sector, analysts said. The Egyptian government, in […]

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Eni

Eni to make $3 billion new investment in Egypt’s Zohr, Nooros gas fields

Posted: June 22, 2018 at 2:03 pm   /   Oil & Gas

Egypt seeks to speed up production from recently discovered gas fields, with the aim of halting gas imports by 2019 and achieving self-sufficiency. Italian energy company Eni has so far invested $8.4 billion in Egypt’s offshore Nooros and Zohr gas fields and is planning to make a $3 billion new investment in the near future, […]

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