SOCAR to broaden activities in Egypt
Azerbaijan’s state oil company SOCAR may soon expand its participation in the modernization of Egyptian energy industry. Azerbaijani Ambassador to Egypt Tural Rzayev said that Egyptian side is interested in broader participation of SOCAR in the oil industry of the country. “For now, energy is deemed to be the main dimension of cooperation between the […]
Ethydco complex successfully produces ethylene and derivatives
The Ethydco complex has successfully produced and supplied ethylene and derivatives to the domestic market and exported excess, the Oil Ministry announced, according Al Masry Al Youm. The complex also produced polyethylene, which is used in pipelines carrying natural gas, water, and wastewater. The project helps achieve the ministry’s strategy to maximize added value on […]
Minister of Petroleum attends signing of MOU for cooperation between EGPC and SOCAR
The Egyptian General Petroleum Corporation (EGPC) signed an MoU with the State Oil Company of Azerbaijan Republic (SOCAR) according to which SOCAR will supply Egypt with up to 2 million barrels of crude oil for refining, in addition to cooperation in LNG, infrastructure, petrochemicals industry and swapping agreements of crude oil and petroleum products, Ahram […]
ERC Mostorod Refinery to be completed in Q1 2017
The Egyptian Refining Company’s Managing Director, Mohamed Saad, stated that the company will complete its refining project in Mostorod within the first quarter of 2017, with the aim of addressing supply gaps in the petroleum derivatives market. During a press conference, Saad said that 90% of the project has been executed. He added that the […]
Infographic: What Can Be Made from One Barrel of Oil? (Visual Capitalist)
Oil gets a bad rap these days, but the stuff is actually quite incredible. Many people think of crude oil as a thick, black liquid that is used to source our unquenchable thirst for gasoline. However, the reality is that each barrel of oil is refined to be used in a variety of applications that […]
El-Molla: Egypt executes 8 petrochemicals projects worth $7.4 bn
Egyptian petroleum sector owns eight large petrochemicals projects with investments worth US$7.4 billion and total capacities estimated at 4.5 million tonnes per year. Oil Minister Tarek El-Molla stated Saturday that those projects include the petrochemicals complex of Egyptian Ethylene and Derivatives Company (Ethydco) whose investments are estimated at US$1.9 billion. The new complex has been […]
Kuwait holds talks with Petroleum Ministry to refine oil in Egypt
A delegation from Kuwait Petroleum Corporation (KPC) had talks with the Egyptian petroleum minister over the possibility of refining the Kuwaiti oil in Egyptian refineries, according to a statement issued on Friday. The studies included the increase of shipping and storage facilities in SUMED’s location in Ain Sukhna and Sidi Kerir, as well as raising […]
Societe Generale wins advisory mandate for Tahrir Petrochemicals complex in Egypt
Societe Generale and Tahrir Petrochemicals Corporation S.A.E., owned by Egyptian firm Carbon Holdings Limited, have signed an agreement mandating the bank to serve as financial advisor to the Tahrir Petrochemicals project in Egypt. Tahrir Petrochemicals is a private sector greenfield petrochemicals complex, and will be the largest complex in the country once it is completed. […]
International Finance Corporation invests $25 million in Carbon Holdings
IFC Supports Manufacturing in Egypt with a $25 million Investment in Carbon Holdings Limited IFC, a member of the World Bank Group, will invest $25 million in Carbon Holdings, an Egyptian developer and operator of manufacturing projects for downstream petrochemicals required in a range of industries, including mining, food packaging, and automotive parts. Egypt is […]
Qalaa Holdings says new ERC refinery will cut government's import bill
Egyptian investment firm Qalaa Holdings is confident its new refinery will cut the country’s dependence on crucial oil product imports, particularly as a weaker currency and rising crude prices force the government to reduce its energy bills. The $3.7 billion Egyptian Refining Co (ERC) will have the capacity to produce 4.2 million tonnes of refined […]