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Tag: Investment
Mubadala

Egypt’s Investment Minister, Mubadala Petroleum CDO discuss opportunities

Posted: December 19, 2019 at 8:58 pm   /   Oil & Gas

UAE encouraging companies to invest in Egypt – Mubadala CDO: The Emirati government is encouraging companies to increase their investments in the Egyptian oil and gas, renewable energy, and construction sectors, Mubadala Chief Development Officer Sheikh Mansour Al Hamed told Investment Minister Sahar Nasr during talks yesterday, according to a ministry statement. Mubadala’s Egyptian assets […]

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electricity

Egypt to invest EGP 75 billion in 2020 to improve electricity grids

Posted: December 18, 2019 at 1:31 pm   /   Electricity & Power

Minister of Electricity and Renewable Energy Mohamed Shaker said on Monday Egypt will implement a plan with investments exceeding EGP 75 billion to improve electric grids nationwide in 2020.  In statements to Nile TV channel on the sidelines of the World Youth Forum in Sharm El-Sheikh, Shaker pointed to an annual programme at the Electricity […]

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Benban

Arab, foreign companies look to acquire plants in Benban solar park in Egypt

Posted: December 15, 2019 at 1:17 pm   /   Renewables

A number of Arab and foreign companies are in “extensive” negotiations to acquire solar plants in the recently inaugurated Benban solar power park, unnamed sources tell the local press. According to the sources, an unnamed company is closing in on acquiring Italy’s Enerray’s 50 MW plant, while two Emirati companies are looking to acquire three […]

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Shell Rashid Burullus

Production at Shell’s Burullus, Rashid gas fields rises up to 440 mmcf/d

Posted: December 15, 2019 at 1:13 pm   /   Oil & Gas

The production of Dutch Shell’s Burullus and Rashid gas fields in the deep waters of the Mediterranean Sea increased to 440m cubic feet per day (scf/day), compared to 300m scf/day in the first quarter of this fiscal year 2019/20. A source in the Egyptian Natural Gas Holding Company (EGAS) said that linking 80m scf/day from […]

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BP-MOP

El Molla meets with BP’s Bernard Looney to discuss gas projects

Posted: December 12, 2019 at 3:37 pm   /   Oil & Gas

Minister of Oil and Mineral Wealth Tarek el Molla conferred on Monday with the newly-appointed Chief Executive Officer of British Petroleum Company Bernard Looney and Chief Executive of Operations, Exploration and Research William Lane and Regional President of BP in North Africa and the Middle East Hisham Mekawy and BP Chairman in Egypt Karim Alaa.  […]

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United

United Oil & Gas raises $6.3 million to fund Rockhopper Egypt acquisition

Posted: December 10, 2019 at 1:31 pm   /   Oil & Gas

United Oil conditionally raises USD 6.3 million to partially fund Rockhopper Egypt acquisition: Irish energy company United Oil & Gas has conditionally raised USD 6.3 million to partially finance its planned USD 16 million acquisition of Rockhopper Egypt’s business, United Oil said in an LSE disclosure. The company raised the amount through a share issuance, […]

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SOPC

Suez Oil Refinery in Egypt lent $50 million for energy efficiency upgrades

Posted: November 26, 2019 at 11:47 am   /   Oil & Gas

A London-based bank is supporting the modernisation of Egypt’s oil industry with a $50 million (£39m) loan to support energy efficiency investments at a refinery. Suez Oil Processing Company (SOPC) will use the grant from the European Bank for Reconstruction and Development (EBRD) to improve its refinery’s operational efficiency and introduce cleaner fuel. The measures […]

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EDF-KarmSolar

EDF becomes strategic shareholder in KarmSolar, Egypt’s solar power developer and supplier

Posted: November 25, 2019 at 3:27 pm   /   Renewables

EDF Renewables becomes a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt. EDF Renewables, the renewable energy subsidiary of EDF Group and KarmSolar, a developer and supplier of solar power in Egypt, are entering into a strategic partnership in the development of distributed solar in Egypt. As part of this partnership, […]

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pr-chart-1-fields-on-offer

Rystad Energy: Supermajors’ global asset sales could reach $27 billion

Posted: November 19, 2019 at 3:17 pm   /   Oil & Gas

The supermajors are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment. These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline. Ranjan […]

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Shell

Shell appoints Citi for $1 billion sale of Egypt Western Desert assets

Posted: November 17, 2019 at 12:55 am   /   Oil & Gas

Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said. The sale process is expected to be officially launched at the end of November, the sources said. Shell said last month it plans […]

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