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Delay in imports of gas for electricity threatens the industrial sector in Egypt

  /  July 23, 2014  /  Business  /  No Comments

EGAS stopped pumping gas to MOPCO, EFC, and EBIC factories; reduction of 80% of gas needs of cement plants

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Power stations boosting fuel consumption at expense of industrial sector: EGAS

  /  July 23, 2014  /  Business  /  2 Comments

Fuel station deficit worth 6m cubic metres of gas and equivalent daily

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Ganoub El-Wadi proposes international tender for oil and gas exploration

  /  July 21, 2014  /  Business  /  No Comments

Recent fuel price rise may provide incentive for investments in exploration in Egypt

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Petroleum ministry proposes petrochemical projects worth $540m to UAE

  /  July 21, 2014  /  Business  /  1 Comment

Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum. The projects included establishing a factory to produce bio-ethanol from read the rest…

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Agiba Petroleum Company to produce 63,000 barrels of crude oil daily through FY 2014/2015: Chairman

  /  July 19, 2014  /  interviews  /  2 Comments

Egypt undergoing crisis providing fuel for local market while it also faces difficulty in paying dues to foreign companies in the petroleum sector

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HOG Energi regassification boat to arrive in Ain Sukhna Port in December

  /  July 15, 2014  /  Business  /  No Comments

The arrival of a regassification boat owned by Norway’s HOG Energi has been delayed to December so that shipments of liquefied natural gas (LNG) may be received in its place. LNG will be imported over read the rest…

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Petroleum companies operating in Egypt have reduced gas production: Ministry report

  /  July 13, 2014  /  Business  /  No Comments

Delayed payment of debts to foreign partners threatens Egyptian gas production, says report

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Dues owed to foreign oil and gas companies reach $6.3bn in July

  /  July 12, 2014  /  Business  /  No Comments

Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April, according to Tareq Al-Mula, president of the Egypt General Petroleum Corporation (EGPC). The government read the rest…

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World Bank negotiating $500m loan for gas delivery to homes

  /  July 9, 2014  /  Business  /  No Comments

Correction: Daily News Egypt is republishing this article because the World Bank was incorrectly said to have already approved the loan in the original article

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2.5m smartcards for petroleum products distributed so far: EGPC chairman

  /  July 9, 2014  /  Technology  /  No Comments

About 11,000 smartcard machines have been placed at gas stations in order for customers to use their cards to access fuel at the subsidised price.

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UAE willing to invest in oil sector, choosing between current projects: Petroleum minister

  /  July 8, 2014  /  Business  /  1 Comment

Egypt discussed setting up pipelines and depots with Abu Dhabi

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EGAS, Sonatrach negotiating over 5 LNG shipments for electricity production

  /  July 7, 2014  /  Business  /  No Comments

Delegation from Algerian firm set to arrive in mid-July to conclude proceedings

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World Bank approves $500m loan for home gas delivery

  /  July 7, 2014  /  Business  /  No Comments

The Ministry of Petroleum is looking to increase domestic natural gas usage to ration butane consumption, which makes up a large portion of subsidies on petroleum products.

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Fuel consumption rates stabilise in domestic market after implementation of price increases

  /  July 6, 2014  /  Business  /  6 Comments

This follows a surprise increase in consumption took place on Friday following the announcement that fuel prices would increase.

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Rise in fuel prices will bring in EGP 24bn in additional revenue for EGPC: Chairman

  /  July 5, 2014  /  Business  /  6 Comments

The rise in price of such petroleum products as gasoline, diesel, and kerosene in the domestic market.

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Petroleum price hikes spark widespread outcry

  /  July 5, 2014  /  Business  /  1 Comment

“Thugs” forcing fuel stations to sell at old price yet police are unresponsive, petrol station manager

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100m cubic feet of gas to be added to gas production by the end of July

  /  July 2, 2014  /  Business  /  No Comments

Production rates will not exceed 4.9bn cubic feet of gas until the end of this year, reflecting the continuing decline in the productivity of wells and small projects connected to the production line

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Fuel subsidy bill for 2014/2015 to exceed budget: Former EGPC VP

  /  July 1, 2014  /  Business  /  1 Comment

The government announced approval for the new budget on Monday after reducing the deficit to approximately EGP 240bn, in large part due to new measures rationing petroleum subsidies.

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Electricity subsidy increases come to pay value of fuel consumed by stations: Energy expert

  /  July 1, 2014  /  Business  /  No Comments

The increase allocated to the ministry amounts to approximately EGP 14bn and will not be sufficient to pay the value of fuel after amending the price to $3 per million BTUs compared to the previous $1.85

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