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Tag: Investment
ADES

ADES secures new $140m credit facility to pay for three Nabors rigs

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

ADES International, a London-listed provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa, has secured a new loan from a Saudi bank to finance the acquisition of three jack-ups from Nabors and other potential deals. ADES said on Thursday that a SAR 525 million ($140 million) […]

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ZH&P

Zaki Hashem & Partners to advise on Enppi’s IPO – sources

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

Egypt’s state oil firm ENPPI is expected to appoint local law firm Zaki Hashem & Partners (ZH&P) as legal adviser for its planned initial public offering (IPO), sources familiar with the matter told Amwal Al Ghad. The IPO, which is part of the government’s programme to float stakes in dozens of state-owned companies and officials […]

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Suez Refinery

EBRD finances upgrade of Egypt’s Suez oil refinery

Posted: May 25, 2018 at 2:22 pm   /   Oil & Gas

The European Bank for Reconstruction & Development (EBRD) is providing a $200-million loan to state-owned Egyptian General Petroleum Corp. subsidiary Suez Oil Processing Co. (SOPC) for the upgrade of its 68,000-b/d refinery adjacent to Suez, Egypt, at the entrance of the Suez Canal. ERBD funds will finance investments to modernize the refinery with technical updates […]

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EBRD

EBRD lends SOPC $200 million to finance energy efficiency program

Posted: May 23, 2018 at 3:31 pm   /   Oil & Gas

Egypt signed yesterday a USD 200 million loan agreement with the European Bank for Reconstruction and Development (EBRD) for the Suez Oil Processing Company (SOPC) to finance the company’s energy efficiency investments, including its Green Economy Transition approach, according to an Investment Ministry statement. “In particular, the Project will focus on the installation of a […]

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Kuwait Energy

Kuwait Energy looking to sell Egypt assets – sources

Posted: May 21, 2018 at 2:12 pm   /   Oil & Gas

Kuwait Energy looks to spin-off Egyptian assets: Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. Kuwait […]

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ExxonMobil

ExxonMobil eyes Africa expansion opportunities, Egypt tops the list

Posted: May 20, 2018 at 2:34 pm   /   Oil & Gas

ExxonMobil is eyeing expansion opportunities in Africa, now that oil prices are on the rise again, according to the Africa Report. “The company wants to reinvest in Africa, partly to compete against Eni and Total and to not leave them to dominate the continent,” says OCP Policy Center research associate Francis Perrin. “ExxonMobil looks at […]

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TAQA Arabia

Qalaa’s revenues up 22% y-o-y on back of strong growth from TAQA Arabia

Posted: May 16, 2018 at 4:22 pm   /   Oil & Gas

Qalaa Holdings, a leader in energy and infrastructure, released today its consolidated financial results for the year ending 31 December 2017, reporting revenues of EGP 9,282.3 million, up 22% y-o-y on the back of strong growth from its energy subsidiaries, TAQA Arabia and Tawazon, as well as ASCOM, its operational platform in the mining sector. […]

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gas-plant

Eni, Lukoil to invest $700 million in Western Desert gas processing plant

Posted: May 14, 2018 at 9:35 pm   /   Oil & Gas

A consortium including Italy’s Eni, Russian energy company Lukoil and the Egyptian General Petroleum Corporation (EGPC) is set to establish a natural gas processing plant in Egypt’s Western Desert with a capacity of 100 million cubic feet of gas per day and investments worth $700 million. The construction will start once government approvals are issued. […]

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ADNOC

Egypt’s PM discusses oil & gas cooperation with ADNOC chief

Posted: May 10, 2018 at 12:05 pm   /   Oil & Gas

Egypt’s Prime Minister Sherif Ismail met yesterday with the head of the Abu Dhabi National Oil Company (ADNOC) Sultan Jaber, according to a Cabinet statement. The two discussed oil and gas cooperation, as well as increasing Emirati investments in Egypt’s oil refining, petrochemicals, and LNG sectors. (Source: Enterprise.press)

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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 […]

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