Winner of the RWE bid is the second richest man in Russia
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Tanmeyah buys new equipment to offer more services to oil companies
Petroleum ministry supplies fuel to electricity worth approximately $72m per day
The government has so far distributed 2.6m out of the targeted 4.5m smart cards, said Tareq Al-Mula, chairman of the Egyptian General Petroleum Company (EGPC).
Private company to supply EGP 2bn to build chain of hypermarkets as part of plan to expand local trade markets in collaboration with supply ministry
Three feasibility studies for petrochemical projects to be completed by 2015
The Egyptian Natural Gas Holding company (EGAS) has stopped pumping gas to the Idku liquefaction plant operated by British Gas and GDF Suez, as a result of the increased use of gas by power stations, according to a senior official at EGAS. He added that since last year, the quantity of gas pumped from EGAS …
LNG will not be sufficient to meet actual needs of all sectors: Medhat Youssef
Deficit in fuel for electricity and gas equivalents now stands at 4m cubic metres daily at the expense of factories
Power plants currently receive 80% of Egypt’s natural gas production, equivalent to approximately 3.043bn cubic feet per day, currently the maximum supply rate, according to a report issued by the Ministry of Petroleum. Approximately 519.8m cubic feet of the remaining 20% of Egypt’s gas production is directed toward the industrial sector. The other 1.79bn cubic …
Daily reduction of 725m cubic feet of gas at factories; gas supply to EBIC, Alexandria Fertilizers, and Egyptian Fertilizers stopped
Several government agencies have stopped paying for fuel products they are receiving from the EGPC in light of their need for this money in order to pay dues they owe to partners and banks. Dues owed to the Petroleum Authority by government agencies are approximately EGP 163bn, according to an official at the Ministry of …
The government is the reason behind the continued inability of the petroleum sector to repay dues to foreign partners in return for oil and gas received monthly, said an official at the Ministry of Petroleum The EGPC has not complied with the agreement the ministry entered into with foreign partners for the payment schedule for …
Foreign companies operating in the oil sector have linked increasing their investments to their payment from the Egyptian government, in light of the government’s failure to keep to the repayment schedule that was previously agreed upon. According to an official at one of these foreign companies, the Egyptian government has no choice but to pay …
Total dues owed to foreign partners in the petroleum sector currently stand at $5.9bn, according to the head of the EGPC.
All petroleum agreements stipulate an interest on dues owed by the government to its partners in the case of late payment, and the interest rates vary with each agreement, the official added.
590m cubic feet of gas reduction for fertiliser and cement
Electricity deficit increases to approximately 6,180MW, no solution in sight
New due payment schedule yet to be determined; government offers bid for foreign banks to arrange loan in dollars to repay dues to foreign partners
EGAS seeks to encourage foreign partners to produce gas from Egyptian fields, company official said.
The project will include the creation of a transmission line to transfer gas between the two countries at peak times for each country at a maximum of 3,000 MW.
The goal was for the Iraqi gas line to supply Jordan with its fuel needs and provide for a portion of Egypt’s needs as well, or to transform gas to its liquid form in one of the factories operating in Egypt, which would then be exported.
The official noted that the contracted amounts of gas exports to Jordan are 255m cubic metres of gas daily.
New law to regulate mining and quarrying expected to generate EGP 3-4bn annually in returns for the state
Debts owed to Egyptian gas holding company EGAS for quantities of gas obtained by the industrial sector reached EGP 16bn by the end of July, according to a senior company official. Factories were notified in February that gas supplies will be cut in the event of non-payment of debts, but no significant measures have been …
The MOPCO 2 project will increase the company’s productive capacity to over 1.2m tonnes annually, and the official noted that with the MOBCO 1 project included in the calculations, total production will exceed 2m tonnes per year.
EGPC’s inability to follow-up on the fuel distribution process made it face problems tracking smuggling.
EGAS stopped pumping gas to MOPCO, EFC, and EBIC factories; reduction of 80% of gas needs of cement plants
Fuel station deficit worth 6m cubic metres of gas and equivalent daily
Recent fuel price rise may provide incentive for investments in exploration in Egypt