OIL AND GAS

10 Mar 2020

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"...

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08 Mar 2020

TAQA Arabia contracts with Grant Thornton for IPO evaluation

TAQA Arabia contracted with Grant Thornton to act as an independent financial advisor to evaluate the company’s initial public offering (IPO) on the Egyptian Exchange (EGX), with plans to start the offering in the first half of the year (1H20), informed sources told Daily News Egypt.

"...

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04 Mar 2020

Eni, partners reach agreement to exit Union Fenosa, allows restart of Damietta liquefaction plant in Egypt

Eni signed a series of agreements with the Arab Republic of Egypt (ARE), the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS) and the Spanish company Naturgy, to pave the way for the restart the Damietta liquefaction plant in Egypt by June 2020.

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04 Mar 2020

Maersk Drilling secures one-well contract offshore Egypt

Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt.

The contract has an estimated duration of 21 days and is expected to commence in March 2020,"...

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04 Mar 2020

Shell considers drilling exploratory gas well at Rosetta field after one-year production halt

Dutch Shell considers drilling an exploratory gas well in Rosetta field in Rashid concession, after it stopped production about a year ago. The company retracted the concession sale offer announced in November 2016, and the production rate at the time was 30m cubic feet of gas per day (scf/day)"...

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04 Mar 2020

Egypt buys EGP 3.6bn solar energy from private sector since Feb. 2018

The government purchased electricity produced from photovoltaic stations implemented by the private sector for EGP 3.639bn from February 2018 to January of this year.

Sources at Egyptian Electricity Transmission"...

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03 Mar 2020

Schneider Electric Co. reaches deal on power distribution in Egypt

CAIRO - 2 March 2020: Ministry of Electricity has reached an agreement with Schneider Electric Company to establish modern control centers for electricity distribution networks in Egypt.

The deal was reached on Sunday at a meeting between President Abdel Fattah El Sisi and"...

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27 Feb 2020

EgyptERA to define new regulatory framework for renewables

The Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) is working on defining a new regulatory framework for renewable energy projects in the coming period.

Chairperson of EgyptERA"...

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24 Feb 2020

Noon to add home appliances on its electronic platform

Noon Online Shopping Services, owned by Emirati businessman Mohamed Alabbar, aims to add large size home appliances on its electronic platform.
General Manager of Noon Egypt Mostafa Hendawy said the company started work in the UAE in September 2017, then entered the Saudi market in"...

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24 Feb 2020

AG&P Breaks Ground on its LNG Import Facility at Karaikal Port, Puducherry, Expanding Access to Natural Gas for Downstream Customers in South India

AG&P, the global downstream gas and LNG logistics company, has broken ground on its LNG Import Facility at Karaikal Port, Puducherry, paving the way to broader access to natural gas as a primary fuel in South India. The Karaikal LNG Import Facility (“Karaikal LNG”) is expected"...

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