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Tag: Petroleum
EGPC

Egypt close to settling debts to international oil companies

Posted: August 1, 2018 at 1:39 pm   /   Oil & Gas

Egypt is expected to achieve self-sufficiency in natural gas by the end of the year and exports are to resume by next year. Egypt is close to repaying debts to foreign petroleum companies, a sign of economic recovery and an important step towards attracting investments in the petroleum sector, analysts said. The Egyptian government, in […]

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Mediterranean Upstream & Midstream Summit: Oil & Gas Giants meet in Athens for first time

Posted: March 11, 2018 at 9:02 pm   /   Oil & Gas

IN-VR Oil & Gas ​is pleased to announce the ​Official ​Mediterranean Upstream & Midstream Petroleum Summit, 7-8 May 2018​ taking place in​ Athens, Greece ​from ​7th to 8th May 2018​. For the first time ever the ​CEO of ​Egypt Petroleum Corporation (EGPC) and the President of Lebanese Petroleum Administration (LPA), the President ​of the ​Hellenic […]

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ITFC opens $400m credit line for Egypt to buy petroleum products

Posted: February 5, 2018 at 4:38 pm   /   Oil & Gas

International Islamic Trade Finance Corporation this week opened a credit line worth $400 million for Egypt to buy petroleum products in a last tranche of a $3 billion finance deal signed in 2015, Chief Executive Officer Hani Sonbol said on Thursday. The corporation will start implementing a new $3 billion deal with Egypt in the […]

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Egypt closes in on energy hub goal with new gas deals

Posted: January 2, 2018 at 10:21 pm   /   Oil & Gas

Egypt is set to inaugurate a new wharf for natural gas and petroleum product tankers on the Gulf of Suez in the coming days, another step in its plan to become a regional energy hub. The new 2.5 km wharf is being built by SUMED, which for decades has operated two pipelines from the Red […]

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Egypt's petroleum exports surge by 16.8% in Q1 of FY2017/18

Posted: December 13, 2017 at 8:05 pm   /   Oil & Gas

Egypt’s exports of crude oil and petroleum products increased 16.8 percent during the first quarter of financial year 2017/2018, data from the Central Bank of Egypt (CBE) showed Sunday. Petroleum exports amounted to $1.8 billion in the first quarter (July-September), compared to $1.5 billion in the same period last year, according to the CBE. The […]

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Egypt exported petroleum products worth EGP 7.7 bn to 7 Asian countries

Posted: December 4, 2017 at 2:12 pm   /   Oil & Gas

Egypt’s exports of petroleum products to seven Asian countries hit EGP 7.7 billion in 2016. “These countries include India, China, Malaysia, Japan, Singapore, South Korea and Bangladesh”, the Central Agency for Public Mobilization and Statistics (CAPMAS) said Sunday. India came at the top of the list, constituting 44.9 % of the total Egyptian petroleum exports, […]

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El Molla: Petroleum investments reached $8.1 billion in FY 2016/2017

Posted: November 12, 2017 at 9:16 pm   /   Oil & Gas

Minister of Petroleum Tarek El Molla said Saturday that the current fiscal year witnessed an estimated investment of $ 8.1 billion in the petroleum sector. In a press conference, he said that the Petroleum Ministry targets $10 billion in investments during the current fiscal year 2017/2018, pointing out that the petroleum sector’s strategy aims to […]

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Egypt inked 83 oil and gas agreements with IOCs since 2013 – El Molla

Posted: September 27, 2017 at 7:01 pm   /   Oil & Gas

Foreign firms have entered in 83 agreements for oil and gas exploration and production with the Ministry of Petroleum since the June 30 Revolution of 2013, Minister of Petroleum Tarek El Molla said. During the minister’s meeting with the French Chamber of Commerce in Egypt, El Molla highlighted that this number is a record in […]

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EGPC paid $6.2 billion in arrears to IOCs during FY 2016/17

Posted: September 24, 2017 at 6:53 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) paid $6.2 billion to foreign companies in arrears during the fiscal year (FY) 2016/2017, which in turn prompted companies to accelerate their activities in the oil and gas fields, EGPC Chairman Abed Ezz el-Regal said Thursday. He added that EGPC paid a total amount of $19.3 billion and LE […]

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