Egyptians face costlier commutes after latest increase in fuel prices

As part of its ongoing economic reform programme the government has reduced subsidies on fuel.

The price of diesel, mainly used by microbuses and agricultural tractors, was raised by 50.7 per cent, from LE3.65"...

Egypt continues economic reforms with cuts to fuel subsidies

Whoever said that the fasting month of Ramadan and the Eid are quiet was quite mistaken. This year, Ramadan and the Eid saw tough economic measures, with the prices of Cairo metro ticket increasing just before the month started and water prices soaring during the holy month.

The"...

UAE's Mubadala Petroleum completes the acquisition of a 10% interest in the Shorouk Concession in Egypt

Mubadala Petroleum announces that it has completed the acquisition from Italy’s Eni of a 10 percent participating interest in the offshore Shorouk Concession in Egypt, which contains the supergiant Zohr gas field. Following the completion, Eni, through its subsidiary IEOC, holds a 50 percent interest in the concession. The other partners in the concession are BP with 10 percent interest and Rosneft with 30 percent interest. Dr. Bakheet Al Katheeri, Chief Executive Officer, Mubadala Petroleum signed a deed with Eni completing the......

Rockhopper Exploration provides update on operations in Egypt

Rockhopper Exploration, the oil and gas company with key interests in the North Falklands basin and the Greater Mediterranean region, has provided the following operational and corporate update in relation to its Egyptian portfolio.

Abu"...

SDX Energy reports gas discovery in Egypt's South Disouq Concession

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a gas discovery has been made at its SD-4X well in the South Disouq Concession, Egypt (SDX 55% working interest and operator).

The"...

New Investment Models Are Needed To Boost MENA Oil & Gas Competitiveness, Crescent CEO Tells OPEC Seminar

New investment models will encourage optimal development in the oil and gas sector, Majid Jafar, CEO of Crescent Petroleum told OPEC ministers and industry leaders at the OPEC Seminar in Vienna today. The private sector in MENA can be an important partner in oil and gas development, helping"...

SDX announce gas discovery at SD-4X well, Egypt and provide LMS-1 well test results

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a gas discovery has been made at its SD-4X well in the South Disouq Concession, Egypt (SDX 55% working interest and operator).

The"...

Egypt raises fuel prices as part of new austerity measures

Egypt has announced new hikes on fuel prices as part of austerity measures tied to an IMF loan as it seeks to cut subsidies and reduce its public debt, AFP reported.

The price hikes of between 35 and 50 percent"...

Egypt: Petroleum Ministry Signs Licensing Agreement of Propylene Plant in Alexandria

Petroleum Minister Tarek el Mulla on Thursday 14/06/2018 signed a contract licensing the establishment of a propylene plant at Sidpec complex in Alexandria.

The move is a part of a project meant to increase the"...

Egypt Imposes Steep Fuel Price Increases

Egypt announced steep increases in fuel and cooking gas prices on Saturday as part of austerity measures intended to overhaul the country’s ailing economy.

This is the third time the government has increased"...