ECHEM eyes $15 billion investments in Egypt
The Egyptian Petrochemicals Holding Company (ECHEM) is designing a blueprint for hiking investments from $5 billion to $15 billion within 5-10 years, said ECHEM Vice-President Hussien Ismail. Feasibility studies are underway for a number of vital projects, including a petrochemical project in Suez Canal Axis, a Polypropylene production project, as well as a plant for […]
As linking projects stall, energy companies see production rates fall
Egypt’s average production of natural gas declined to 3.8bn cubic feet per day in 2016 from the rate of 4.4bn cubic feet per day in 2015. A report published by the Ministry of Petroleum disclosed Egyptian gas fields’ average productivity in 2016, which has significantly decreased due to delays in plans to link gas fields […]
Petroleum ministry plans to raise foreign investments in Egypt to $8.5 billion in 2015-16
Egypt’s petroleum ministry eyes raising foreign investments in Egypt in drilling and exploration projects by US$1 billion to hit around $8.5 billion by the end of fiscal year 2015-16. Source at the ministry told Amwal Al Ghad Sunday that oil agreements that were signed with foreign partners during the last months have participated in boosting […]
Egypt replaces heads of EGPC and EGAS
Egyptian Oil Minister Tarek al-Molla replaced the heads of state oil company EGPC and state gas company EGAS on Thursday, part of a slew of new appointments in the Egyptian energy sector. Mohamed al-Masry will replace Khaled Abdel Badie as head of EGAS, while Tarek al-Hadidi will take over from Masry as head of EGPC. […]
Egypt arrears owed to oil firms rises to $3 billion at end-2015
Egypt’s outstanding arrears to foreign oil companies rose to $3 billion at the end of December 2015 from $2.7 billion at the end of October, Petroleum Minister Tarek El Molla told Reuters. The ministry had said in September that Egypt aimed to reduce the arrears owed to foreign oil companies to $2.5 billion by the […]
