Egypt targets gasoline deficit of 3.8% in FY 2019/20

The ministry of petroleum and mineral resources aims to reduce the gap between the domestic production of gasoline and consumption to 3.8% during the next fiscal year (FY), bringing the total domestic production to about 7.6m tonnes annually while the estimated consumption is 8m tonnes.

Egypt to pay Israel $500m over defunct energy deal

Egypt and Israel have agreed to a $500 million settlement over a long running dispute over a 2012 gas deal that collapsed following attacks by insurgents in the Sinai Peninsula.

The final amount agreed is significantly"...

Elsewedy Electric acquires portfolio or Renewable Energy Assests in operationin Greece

ArabFinance: Elsewedy Electric S.A.E (SWDY), a leading Integrated Energy and Infrastructure Solution Provider announces entering into a Share Purchase Agreement with R.F Energy S.A ( a subsidiary of G.G Europe S.A) to acquire 100% of the share capital of 3 wind and 1 hydro-electric energy"...

Egypt keen to regain its leading role to become a regional energy center

Egypt is keen to regain its leading role in promoting regional and international cooperation through implementing its national project to become a regional energy center.

Egypt implements the project through three main axes of work, whether internal, political, technical or"...

Egypt prepares site of Dabaa nuclear energy station to start executive work

The nuclear energy plant in Dabaa is one of the largest national projects built in Egypt. It is built and supervised by Russia’s Rosatom. The plant consists of four nuclear reactors with a total capacity of 4800MW, with each reactor having a capacity of 1,200MW. The first reactor will"...

Petroleum Ministry aims to develop 11 gas projects with $18bn investments until 2023

The ministry of petroleum aims to develop 11 gas projects in various concession areas until 2023 with investments estimated at $18bn to compensate the natural decline rates and increase production.

A source at the"...

Saudi Arabia Lubricant Sales Volume is Expected to Reach over 500 Million Litres by 2023: Ken Research

(AETOS Wire)-- Ken Research in their latest publication “Saudi Arabia Lubricants Market Outlook to 2023 – By Automotive (Passenger Car Motor Oil, Heavy Duty Engine oils, Hydraulic Oils, Gear Oils & transmission, and Greases), Industrial lubricants (Engine Oils, Turbine oils, Hydraulic oils, Industrial Gear oils, Transformer oils, Compressor oils, Greases); By Origin (Mineral, Synthetic and Semi-Synthetic)” observed that the market is expected to register a positive CAGR of 3.4% in terms of revenue and a CAGR of 0.8% in terms of sales volume / domestic consumption of lubricants during 2018–2023. This market intelligence......

Egypt allows Eni, BP to export gas through Edco liquefaction factory

The ministry of petroleum has allowed Eni and British Petroleum (BP) to export gas from Zohr and North Alexandria fields through Edco liquefaction factory in accordance with the development agreements of these projects.

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Intro Energy to launch $100m energy projects in 3 years

Intro Energy is planning to launch several projects to produce electricity from renewable resources with investments of $100m within three years. Mohamed Mamdouh Abbas, the managing director of the company, told Daily News Egypt that Intro Energy will be implementing a solar energy plant with a capacity of 20MW in Sharm El-Sheikh with the net metering system and a solar power plant with a capacity of 10MW in favour of a group of hotels, in addition to a solar plant with a capacity of 5MW for a hotel in Sharm El-Sheikh. He explained......

BP to sell oil assets in Egypt to Dubai’s Dragon Oil

Cairo: BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company.

Under the terms of the agreement, Dragon Oil will purchase producing and"...