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Tag: Petroleum Products
ITFC

Egypt signs $1.1 bn funding agreement with Islamic Trade Finance Corporation

Posted: December 5, 2019 at 2:08 pm   /   Oil & Gas

Egypt to get USD 1.1 bn ITFC loan for commodity imports: Egypt has signed a USD 1.1 bn funding agreement with the Islamic Trade Finance Corporation (ITFC) to help it import petroleum products and food in 2020, according to a cabinet statement. The funds are part of a USD 3 bn agreement between Egypt and […]

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Oil

Egypt spends $1.5 billion/month on petroleum products for local market

Posted: October 24, 2018 at 1:27 pm   /   Oil & Gas

Egypt spends more than $1.5 billion per month in providing petroleum products to the local market, Petroleum Minister Tarek El Molla said on Tuesday, a bill that covers both imports and the share of foreign oil companies. Egypt now spends $700 million-$800 million buying the foreign companies’ share in local joint venture oil production due […]

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