The Egyptian General Petroleum Corporation (EGPC) paid approximately $480m in bank instalments to EDCO liquefaction plant, affiliated to Royal Dutch Shell, which ceased operating at full capacity in 2012. This did not result in the foreign partner (Shell) raising an international arbitration case against Egypt. A source in the petroleum sector told Daily News Egypt that …
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The Anglo-Dutch energy giant saw its after-tax profit reduced to a trickle in the first quarter, suffering from falling oil prices and hit by huge costs arising from its takeover of British rival BG.
Segment of investments will be allocated to implement projects aiming to increase oil and gas production
Rejection comes despite recent visit made by François Hollande to UAE in January to advocate for Total acquiring the contract