Egypt ranks 7th globally for lower selling price of gasoline: Report

Thu, 02 Mar 2023 - 12:46 GMT

Prices became, 95-octane gasoline for 1,503,000 pounds, 98-octane gasoline for 1,538,000 pounds, diesel for 1,448,000 pounds, and gas for 982,000 pounds.

Exclusive: ACEA affirms contacting Egyptian officials regarding petrol poor quality

Mon, 07 Mar 2022 - 03:00 GMT

A circulated letter dated to Feb. 8 addressed Egyptian officials stating that several vehicle manufacturers producing vehicles circulating in Egypt are faced with an increasing number of claims from owners and operators which appear related to the poor quality of petrol marketed in Egypt.

Egypt signs 99 petroleum agreements with investments of $17B within 7 years

Tue, 16 Nov 2021 - 03:51 GMT

This came in a videograph published by the Information Center, which reviews the size of the petroleum sector's achievement during the last seven years.

Min. asserts importance of intensifying digging for oil to increase Egyptian oil production

Sun, 23 Feb 2020 - 01:49 GMT

This came during a meeting of the general assembly of Belayim Petroleum Company (Petrobel) to approve the draft budget of 2020-2021 and the amended budget of 2019-2020.

Petroleum Ministry, Eni open 1st integrated filling, charging station in Port Said

Sun, 26 Jan 2020 - 03:17 GMT

The new station, which is first of its kind in Egypt, is established with a joint Egyptian-Italian investment, represented in Gastec company of the Petroleum Ministry and Italy's Eni.

Egypt makes 60 oil, gas discoveries in 2018/19

Tue, 29 Oct 2019 - 09:48 GMT

Two new discoveries will be announced soon; the first discovery is for Eni in the Gulf of Suez and the second for Petro Gulf in Sinai.

Eni to inject new investment in Egypt in coming period

Thu, 12 Sep 2019 - 11:51 GMT

This came during a meeting held between Descalzi and Minister of Petroleum Tarek el-Molla on the sidelines of Molla’s participation in the World Energy Conference in Abu Dhabi.

Egypt, Oman sign MoU to bolster cooperation on petroleum, natural gas

Thu, 05 Sep 2019 - 11:15 GMT

The MoU included exchanging expertise and technologies in addition to cooperation and investment in manufacturing petroleum and natural gas.

Egypt to establish LE43B oil production, refining projects in Assiut

Wed, 17 Jul 2019 - 03:40 GMT

These investments include the implementation of a unit for the production of high-octane gasoline and a complex for the production of gasoline and diesel.

Foreign investments in petroleum sector to exceed $10B in 2019/20

Wed, 22 May 2019 - 02:11 GMT

The source pointed out that this will be reflected on the growing oil activity and projects implemented.

Ad hoc committee keeps Octane 95 price at LE7.75 in Q2 2019

Mon, 01 Apr 2019 - 09:53 GMT

In January 2019, Minister of Petroleum and Mineral Resources Tarek al-Molla said that automatic fuel pricing will start in April to be applicable on Octane 95 only.

Volume of joint foreign investments in petroleum sector hits $5.7B

Mon, 25 Feb 2019 - 11:32 GMT

The source clarified that $3.2 billion was invested in operations to explore oil and gas, in addition to developing fields, adding that the operating cost reached $1.6 billion.

Egypt signs 7 agreements to explore petrol, gas with investments of $162M

Wed, 20 Feb 2019 - 12:29 GMT

Procedures of 10 new agreements were completed during July and August 2018.

PetroChina to drop PDVSA as partner in refinery project - sources

Thu, 31 Jan 2019 - 08:56 GMT

The company's decision adds to state-owned PDVSA's woes after the United States imposed sanctions on the company on Jan. 28 to undermine the rule of Venezuelan President Nicolas Maduro.

Cabinet denies importing crude oil, petrol products from Iran

Thu, 08 Nov 2018 - 02:01 GMT

The Cabinet media center has dismissed as groundless reports that Egypt imports oil products from Iran.

Petroleum Min. announces new oil discovery in Western Desert

Fri, 04 May 2018 - 12:20 GMT

Minister of Petroleum and Mineral Resources Tariq Al-Mulla announced Thursday a new oil discovery in Egypt’s Western Desert, an official statement said.

Molla, SNAM CEO discuss turning Egypt into regional gas trade hub

Thu, 22 Mar 2018 - 01:58 GMT

The meeting was attended by Italy's Ambassador in Cairo Giampaolo Cantini.

Business News Wrap-up

Sat, 17 Mar 2018 - 05:30 GMT

A wrap-up of the most prominent business news of the day.

International Islamic Trade Finance opens $400M credit line for Egypt

Thu, 01 Feb 2018 - 10:47 GMT

International Islamic Trade Finance Corporation this week opened a credit line worth $400 million for Egypt to buy petroleum products.

CAPMAS: Petrol, natural gas production hikes to 5.8M tons in a year

Thu, 25 Jan 2018 - 09:09 GMT

The total domestic consumption of petroleum and natural gas reached 6.349 million tons in November 2017.