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Tag: Investment
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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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 […]

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WoodMackenzie Egypt Gas

Wood Mackenzie: Egypt’s astonishing gas renaissance

Posted: April 30, 2018 at 5:52 pm   /   Oil & Gas

Lessons in attracting upstream investment capital. By Simon Flowers – Chairman and Chief Analyst. Not long ago, Egypt’s gas industry was in crisis. Production fell by a third in the three years to 2015. A top ten LNG exporter in the prior decade, the country had, by then, become a top ten importer. Nearly all […]

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Mubadala

UAE’s Mubadala prepares for its debut in Egypt’s Oil & Gas market

Posted: April 26, 2018 at 5:00 pm   /   Oil & Gas

UAE’s Mubadala looking to acquire 10% Zohr stake next month as it prepares to enter Egyptian market: The Abu Dhabi-based Mubadala Petroleum is expected to sign next month the final contracts for its acquisition of a 10% stake in the Zohr gas field from Italy’s Eni, Oil Minister Tarek El Molla said yesterday, Al Shorouk […]

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Merlon Fayum

Merlon JV Petrosilah to invest $55 million in oil exploration in Egypt

Posted: April 26, 2018 at 4:52 pm   /   Oil & Gas

Petrosilah Petroleum Company plans to invest about $55 million in oil exploration and discovery in its concession areas in Egypt during the fiscal year 2018/2019, chairman and managing director Taher Abdel Rehem said. The firm raised its production of crude oil by 1,000 barrels during last week, bringing its daily output capacity to 7,000 barrels […]

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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 […]

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eu egypt mou

Egypt, EU sign Memorandum of Understanding for energy cooperation

Posted: April 24, 2018 at 1:25 pm   /   Electricity & Power, Renewables

Egypt and the European Union continue to share strong bilateral energy relations as well as an understanding of the opportunities and challenges facing the region. Partnership in the energy sector comes on top of the areas of common interest between Egypt and the EU in view of its importance as a driver of economic growth […]

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