petroleum
Egypt's Ministry of Supply is stepping up inspections at gas stations to ensure fuel availability, quality, and compliance with standards.
Tamer Heikal, chairman of the Egyptian Sustainable Aviation Fuel Company (ESAF), presented the project's business plan, objectives, and implementation roadmap. Heikal stated that the $530 million project has completed its feasibility studies in collaboration with the European Bank for Reconstruction and Development (EBRD).
Engineer Moataz Atef, spokesperson for the Ministry of Petroleum and Mineral Resources, stated that the ministry is monitoring the impact of the decision to increase tariffs and fuel prices on the cost of transporting products and goods, which affects prices in local markets.
Petroleum and Mineral Resources Minister Karim Badawi discussed on Friday with Cypriot Energy Minister George Papanastasiou means of boosting bilateral cooperation in the development of natural gas fields.
This rise in petroleum product exports coincides with a decline in crude oil exports over the same period.
The Egyptian Ministry of Petroleum is keen to enhance safety in the petroleum industry as a prioritu to reduce risks, said Geologist Alaa El Batal, First Undersecretary of the Ministry of Petroleum and Mineral Resources and Supervisor of Occupational Safety and Health, Energy Efficiency and Climate.
Egyptian Minister of Petroleum and Mineral Resources Eng. Karim Badawi held an expanded meeting with the executive leadership of the Egyptian Mineral Resources Authority.
This came during his participation in the Hamburg Sustainability Conference in the German city of Hamburg.
The repayment schedule will follow a prearranged agreement between the government and its international partners
That is in tandem with the suspension of gas exports.
Its reserves were estimated at 30 trillion cubic feet, which made it the biggest gas field in the Mediterranean.
El Molla further disclosed that the project aims to boost the production of petroleum products by augmenting the current refining capacity from 100,000 to 160,000 barrels per day.
The first phase of early production in the 'North Safa' field was executed by an Egyptian consortium, comprising "Eni, Petrojet, and Marine Petroleum Services."
In the research and exploration plan until 2030, the petroleum sector aims to drill 110 exploratory gas wells with investments amounting to about 4.8 billion dollars.
Minister of Petroleum and Mineral Resources, Engineer Tarek El Molla, held discussion sessions with both CEOs of British Petroleum (BP) and Eni, where he tackled ways of enhancing collaboration in both meetings.
The company expects to close the transaction by the end of 2023.
The Egyptian state continues its major successes and achievements in the gas and oil file, and this comes at a time when Egypt is seeking to increase its reserves of gas, the demand for which has recently grown, in addition to the efforts of many European countries to secure alternative sources away from Russian supplies.
GAFI will make it mandatory for the 2,400 oil companies operating in Egypt's investment and free zones to deliver their waste to Petrotrade.
The allocated investment show an increase of about 20 percent compared to the expected investments of the sector in the previous year, which recorded 84.2 billion pounds.
This comes within the framework of the vision to achieve optimal economic benefit from natural and mineral resources, while the following is the most important information related to the project:
