Egypt’s Industry Minister reveals full strategy to convert gasoline-powered cars to natural gas

CAIRO – 13 July 2020: While touring a housing project on Sunday aiming at giving accommodation to residents of unsafe slums, Egyptian President Abdel Fattah El Sisi was quoted as saying that “new cars will not be licensed until they are converted to natural gas.” The president’s"...

Egypt’s fuel imports decline 76% in April 2020

CAIRO – 13 July 2020: Egypt’s fuel imports dipped 76 percent or $671.297 million in April 2020, amounting to about $209.235 million, down from $880.532 million in April 2019, according to the Central Agency for Public Mobilization and Statistics.

"...

Investment costs of largest oil refining project in Upper Egypt estimated at $2.8B : Oil min.

CAIRO - 8 July 2020: Petroleum and Mineral Resources Minister Tarek el Molla asserted that the project of a mazut hydrocracking complex in Assiut is the largest oil refining project to be implemented in Upper Egypt, with investments totaling $2.8 billion.

...

Egypt’s non-oil private sector sees in June slowest contraction under COVID-19

Egypt’s non-oil private sector contracted in June at its slowest pace since the start of the novel coronavirus (COVID-19) outbreak, according to an IHS Markit Purchasing Managers’ Index (PMI) report.

Despite"...

Natural gas supplied to more than 1M housing units within year: Egypt Min

CAIRO, July 5 (MENA) - Minister of Petroleum and Mineral Resources Tarek al Molla said 1.07 housing units were connected to natural gas within 2019-2020 as part of a national project to deliver natural gas to households.

In a statement issued Sunday, the minister said the ministry"...

Egyptian consortium competes in transmission line tenders in Morocco

A consortium of Egyptian electrical equipment manufacturers will compete in mid-July for two international tenders, worth EGP 1bn, to implement high and ultra-high voltage transmission lines in Morocco.

Kamal"...

Italian Eni announces new gas discovery in Egypt’s Nile Delta

CAIRO – 1 July 2020: Italian oil and gas company Eni said it managed to drill the first exploration well in waters of Egypt’s Nile Delta, in cooperation with contractor members of BP and Total.

In a statement, Eni said the newly discovered prospect “Bashrush”,"...

Schlumberger Reports on Payments to Governments for the Year Ended 31 December 2019

Schlumberger Limited is providing the following disclosure pursuant to L. 225-102-3 of the French Commercial Code (“FCC”) , which requires disclosures of certain payments made by Schlumberger Limited and its consolidated subsidiaries (together, the “Company”) to"...

Petroleum Minister announces new gold discovery of 1m ounces reserve

Minister of Petroleum Tarek El Molla has, in a commercial disclosure, announced a new gold discovery of over 1m ounces reserve in the Eastern Desert’s Eiqat region.

The reserve, which has a 95% recovery"...

Global meltdown: stocks, crude oil futures in free fall on rising COVID-19 cases, OPEC price war

Coronavirus threat and a full-blown crude oil price war lead to global financial markets meltdown, reaching unprecedented lows Monday.

The stock markets bloodbath triggered the first-ever forced trading halt in"...