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Tag: Petroleum Products
El Molla Bloomberg

Egypt to Reach Self-Sufficiency in Refined Oil Products by 2023 – El Molla to Bloomberg

Posted: October 26, 2021 at 11:14 am   /   Oil & Gas

Egypt to Produce Enough Energy to Meet its Needs by 2023. “We’re doing great in refined products,” says energy minister. Country is seeking to sell more LNG via long-term contracts. Egypt said it’s on target to produce enough fuel to cover its own needs by 2023. The country will reach its goal thanks to upgrades […]

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fuel

Egypt’s Fuel Subsidies fall by 46% in Q1 FY 2020-2021

Posted: November 30, 2020 at 12:16 pm   /   Oil & Gas

Public spending on fuel subsidies continues to fall in FY2020-2021: The government continued to cut back on fuel subsidies in 1Q FY2020-2021, reducing spending by 46% to EGP 3.9 bn from EGP 7.25 bn in the same period a year earlier, Oil Minister Tarek El Molla told Reuters, according to Sky News. The minister’s statements […]

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Storage Terminal

Total Egypt, Ola Energy to construct Alexandria petroleum storage facility

Posted: September 8, 2020 at 1:15 pm   /   Oil & Gas

Total Egypt, OLA to partner in Alexandria Petroleum Products Terminal construction Total Egypt and OLA Energy Egypt have signed a joint venture agreement to jointly own, build, and operate a new petroleum products terminal in Alexandria. The Alexandria Petroleum Products Terminal (APPT) will be built at the Mex Petroleum Zone on a 23,000 square metre […]

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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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