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Tag: Investment
Wintershall Dea

Wintershall Dea Q2 2020 Results: unaffected production, stable operations despite pandemic

Posted: August 20, 2020 at 1:04 pm   /   Oil & Gas

Q2 2020 Results: Despite the pandemic – unaffected production and stable operations Wintershall Dea, Europe’s leading independent gas and oil company, today reported its second quarter 2020 results. Mario Mehren, Wintershall Dea Chairman & CEO, says: “The quarter was without doubt one of the most challenging that the industry has seen in a long time. […]

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Cabinet

Blackstone Group’s Zarou to invest $1 bn in energy projects in Egypt this year

Posted: August 16, 2020 at 11:53 am   /   Electricity & Power

Blackstone Group’s Zarou is looking to invest $1 billion in the Egyptian market in 2020, the company’s CEO, Sameh Shenouda, revealed. The company has managed and injected investments into several water, electricity, as well as oil and gas projects, Shenouda added in a cabinet statement on Thursday. Moreover, the Egyptian government is cooperating with Zarou in […]

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Egypt-NW-Gemsa-SDX

Gulf Energy pays $1.4 million to North Petroleum for operations at NW Gemsa

Posted: August 16, 2020 at 11:45 am   /   Oil & Gas

Gulf Energy has paid off USD 1.4 million in arrears SDX Energy owed to China’s North Petroleum for production at the North West Gemsa concession, which SDX and North Petroleum were operating together, Al Mal reports, citing an unnamed industry source. SDX sold its 50% working interest in the concession to Gulf Energy last month […]

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lekela

Lekela Power plans directing “most” of its investments to Egypt

Posted: August 4, 2020 at 12:50 pm   /   Renewables

Actis-backed Lekela Power is planning to funnel “most” of its investments in the coming period to Egypt, Lekela Egypt General Director Faisal Essa said last week, according to a cabinet statement. The renewable energy company plans to implement projects with a combined capacity of 500 MW in the country, Essa said, without providing details on […]

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Tarek-el-molla

Egypt’s IOC arrears fall to $850 million at end of June – El Molla

Posted: August 4, 2020 at 12:46 pm   /   Oil & Gas

Egypt’s arrears to international oil companies fell to USD 850 mn at the end of June, down from USD 900 mn a year earlier, despite the financial pressure caused by the covid-19 pandemic, Oil Minister Tarek El Molla told Reuters on Wednesday. Egypt’s arrears bill ballooned to USD 6.3 bn in the wake of the […]

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Sherif-el-kholy-actis

Private Equity firm Actis to make new renewables acquisition this year

Posted: July 28, 2020 at 3:09 pm   /   Renewables

PE giant Actis to make new renewables acquisition this year: Leading emerging-market private equity firm Actis expects to close a new investment in Egypt’s renewables sector by the end of the year, Sherif El Kholy, head of the firm’s Middle East & North Africa business, told Hapi Journal without revealing the project or the size […]

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MEES Chevron

MEES: Chevron arrows in on East Med with $5bn Noble Energy takeover

Posted: July 28, 2020 at 2:52 pm   /   Oil & Gas

US major Chevron is expanding in the “prolific Eastern Med” with the $5bn acquisition of compatriot Noble Energy. The highlight of the deal is a 40% operator’s stake in the region’s largest gas field, Israel’s 23tcf Leviathan. Just six months after dipping its toe into the East Mediterranean with its first Egypt block, US major […]

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shell

Carlyle, Cairn-backed group, Dragon Oil in running to acquire Shell Egypt onshore assets

Posted: July 16, 2020 at 2:47 pm   /   Oil & Gas

Private equity firm Carlyle Group and a consortium backed by Cairn Energy are in the running to acquire Shell’s onshore assets in Egypt, Reuters reports, citing two sources with knowledge of the matter. Previous reports had indicated that Cairn Energy was part of a consortium that initially included Cheiron and Pharos Energy, until Pharos withdrew […]

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Pharos

Pharos Energy announces trading and Egypt operations update

Posted: July 9, 2020 at 2:53 pm   /   Oil & Gas

Pharos Energy plc, an independent oil and gas exploration and production company, issues the following Trading and Operations update in advance of the Company’s half-year results on 19 August 2020. The information contained herein has not been audited and may be subject to further review and amendment. Summary Rapid and responsible response to COVID -19 […]

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World-Map-Energean

Energean plc announces revised terms of Edison E&P acquisition deal

Posted: June 29, 2020 at 7:29 pm   /   Oil & Gas

Energean plc, the oil and gas producer focused on the Mediterranean, issues an update on its Edison E&P transaction and revised group guidance. Further to the announcement on 19 May 2020, Energean is pleased to announce that it has entered into further amended terms for its acquisition of Edison E&P following which, inter alia, the […]

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