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Tag: Petroleum Ministry

Shell in talks with government to increase natural gas supply

Posted: October 13, 2016 at 1:40 pm   /   Oil & Gas

Shell is currently in talks with the government in order to increase exports, as the government seeks to increase supply to the domestic market. The Egyptian government is slowly moving closer to increasing the domestic energy supply and restarting liquefied natural gas (LNG) exports, as the government continues negotiations with Shell to raise the volume […]

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Egypt's Petroleum Ministry arrears to IOCs increase to $3.6 billion

Posted: October 13, 2016 at 1:34 pm   /   Oil & Gas

Egypt’s Ministry of Petroleum’s dues to foreign oil and gas companies, cooperating with the Egyptian General Petroleum Corporation (EGPC), increased to reach about $3.6bn, compared to $3.5bn at the end of fiscal year (FY) 2015/2016. A senior source in the Ministry of Petroleum told Daily News Egypt that the ministry is to repay part of […]

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Shell reduces investment in Burullus, Rashid concessions to $158.9 million in operating expenses

Posted: October 10, 2016 at 6:55 pm   /   Oil & Gas

Daily decline rate 10m feet of gas at the company’s concession and there’s no production increase. Royal Dutch Shell reduced its investments for the current fiscal year (FY) in Burullus and Rashid concessions to only $158.9m for maintenance and operating expenses. A source within the petroleum sector told Daily News Egypt that the company allocated […]

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Egypt's oil and gas sector rallies

Posted: October 9, 2016 at 7:33 pm   /   Oil & Gas

In late August Shell announced that it had discovered 142bn cu metres of natural gas at its Alam El Shawish concession in Egypt’s Western Desert, with the possibility of more reserves to be recovered, representing one of the largest finds in the region in recent years. This follows another discovery by the Egyptian General Petroleum […]

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Shell's dues increase to $1.3bn from Burullus, Rashid gas returns

Posted: October 3, 2016 at 9:58 pm   /   Oil & Gas

Shell postponed the implementation of the 9B stage until the ministry commits to repaying outstanding debts, says source. The Ministry of Petroleum’s outstanding dues to the Royal Dutch Shell Company increased to $1.3bn from $1.1bn in July from the returns of the foreign partner’s gas share produced from Rashid and Burullus fields’ concessions, which BG […]

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Shell targets exporting liquified gas through Idku plant every 20 days

Posted: September 29, 2016 at 3:43 pm   /   Oil & Gas

Royal Dutch Shell exported a shipment of liquefied gas to world markets through Idku, a liquefaction plant affiliated to Royal Dutch Shell, in mid-September after receiving about 200m cubic feet per day from the Burullus field gas production. A senior source in the petroleum sector told Daily News Egypt that Shell aims to export a […]

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Shell and Egypt agree on repricing of Phase 9C gas

Posted: September 17, 2016 at 1:32 pm   /   Oil & Gas

Shell and Egypt’s Ministry of Petroleum and Mineral Resources have reached an agreement on gas procing for one of Shell’s fields in the North African country. The two parties agreed to re-price gas produced in phase 9C from Burullus field, which came to Shell when it acquired BG. The repricing pegs phase 9C at the […]

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EGAS to tender up to nine new Mediterranean concessions, reprice North Sinai gas

Posted: August 17, 2016 at 7:00 pm   /   Oil & Gas

EGAS will issue tenders for oil and gas exploration and production in eight or nine concession in the Mediterranean by the end of the year, Oil Minister Tarek El Molla told Al Borsa, bringing the total number of concessions during the year to 30. The new tender is set to be issued once EGPC and […]

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Petroleum Ministry calls on international companies for seismic mapping of Red Sea

Posted: August 17, 2016 at 3:02 pm   /   Oil & Gas

The Petroleum Ministry will ask international firms to start seismic mapping of the Red Sea area to increase the attractiveness of investments in the region, Chairman of Ganope, Ganoub El Wadi Petroleum Holding Company, Sherif Sousa told Al Masry Al Youm. Under Egypt’s new system for issuing E&P tenders that target “technologically advanced” companies, Egypt […]

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Repayment period for gas shipments & petroleum products increased to 90 days instead of 30

Posted: August 9, 2016 at 8:01 pm   /   Oil & Gas

El-Molla: All concluded products with foreign companies were modified in order to provide fuel. The Ministry of Petroleum has modified all the concluded contracts with foreign companies to supply petroleum products and gas shipments. Among the modifications is an increase in the period of repayment to three months from the date of the shipment’s arrival […]

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