Global oil demand slump hits Egypt’s SUMED pipeline
Egypt’s Sumed oil pipeline is feeling the effects of the global demand slump: Egypt’s Sumed pipeline has recently been operating at only a quarter of its capacity due to a historic slump in global demand for oil and the subsequent production cuts that were introduced in May, data compiled by Bloomberg shows. Flows through the […]
Suez Canal reduces its LNG carrier transit fees for a three-month period
Suez Canal cuts LNG carrier tolls: Suez Canal Authority has decided to adjust the rates for LNG carriers for a three-month period starting April 1. The authority noted that the liquefied natural gas tankers crossing the Suez Canal will see the regular transit fee cut from 25 to 30 percent. In addition, LNG carriers, loaded […]
Egypt launches two fuel supply carriers with $14 million investment
The Egyptian ministry of petroleum and mineral resources has launched two oil tankers in Port Said and Suez to supply vessels with fuel with total investment of $14 million (EGP 221 million), Ahram Gate reported on Sunday. The two oil tankers are launched by Misr Petroleum Company, boosting the company’s ship-refuelling sector and bringing the […]
Suez Canal increases discount for LNG carriers by 15%
Suez Canal chases US LNG export cargoes: Egyptian waterway offers hefty rebate for gas carriers sailing non-stop from America to Asia. The Suez Canal has laid down the gauntlet to the Panama Canal in the chase for transits by LNG carriers carrying US LNG exports. The Suez Canal Authority has decided to increase the port fee discount […]
Suez Canal amends regulations to encourage LNG carrier traffic
Suez Canal Authority has decided to amend the regulations related to the residue cargo requirements for liquefied natural gas (LNG) carriers. According to the SCA notice, the allowed residues of LNG cargo shall not exceed 5 percent of the vessel’s summer deadweight instead of 2 percent to grant the LNG vessels the privilege of ballast […]
President Sisi inaugurates giant Offshore Support Vessel Ahmed Fadel
President Abdel Fatah al-Sisi has inaugurated on Saturday the giant Offshore Support Vessel, named Ahmed Fadel, which has joined the Suez Canal fleet in June 2017. The giant vessel is one of the most modern of its kinds in the Middle East with $40 million total investments, according to a statement issued by the Suez […]
Belarus invited to take part in Egypt's offshore oil and gas projects
Egypt invites Belarusian companies to take part in the implementation of big oil and gas projects in the Red Sea and the Mediterranean Sea, Speaker of the Egyptian parliament Ali Abdel Aal said at the meeting with Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich on 14 October. […]
Major natural gas discoveries offshore Egypt propel demand for technologies & services
(Offshore Magazine) Curt Cultice US Commercial Service, Department of Commerce Egypt is a mature fossil energy market attracting increased international attention. However, there is a continued demand for new energy technologies from innovative US suppliers committed to long-term partnerships with Egypt. In the below Q&A, Mai Abdelhalim, commercial specialist, US Embassy, Egypt discusses the latest […]
Romania's Transgaz considers building new plant in Egypt
The Egyptian Minister of Investment and International Cooperation, Sahar Nasr said that she has discussed with executives from Romania’s Transgaz establishing a factory in Egypt. The meeting was held on the sidelines of the minister’s visit to Romania, where Nasr stressed to Romanian investors and officials that Egypt took legislative procedures to provide an adequate […]
Egypt unveils Middle East's largest Multi-Purpose Supply Vessel
Chairman of the Suez Canal Authority (SCA) Mohab Mamish on Wednesday raised the Egyptian flag on the largest multi-purpose supply vessel in the Middle East, which is made in China. Named after former SCA chairman Ahmad Fadel, the ship was built by Guangzhou Wenchong Shipyard in China. “The Suez Canal Authority is sparing no effort […]
