Oil & Gas News
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Egypt to pay off $6 billion in arrears to foreign oil firms by 2017
Payment comes as government finalises investment deals to address an ongoing energy crisis.
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Egypt planning $540 million petchem projects with UAE
Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at Ministry of Petroleum.
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BP to invest $10bn in Egypt's gas fields over next 5 years
Deal should see work begin in gas fields capable of producing 20 percent of Egypt's total daily gas output.
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Egypt tries crude swaps to import crucial foreign oil
Egypt has been largely unable to buy crude oil in the international market for more than a year due to a domestic subsidy scheme.
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Egypt issues tender to swap Qarun crude oil for Iraqi Basra Light
The tender specifies that the delivery will take place through storage-tank transfer at its oil hub Sidi Kerir on August 16.
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No fix for Egypt's LNG needs as search for terminal widens
EGAS and EGPC promised to have a terminal up and running last summer until a chaotic tendering process and political upheaval pushed back the job.
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Will Egypt embrace Israeli Gas?
Despite early opposition to restarting energy trade with Israel, Cairo now appears willing to explore the possibility.
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Egyptian minister says "no eambarassment" in British import of Israeli gas
Petroleum minister says there is no 'embarrassment' in Egypt indirectly importing Israeli gas, given Egypt's economic situation and interests.
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Egypt's Prime Minister defends fuel-price increase
Egypt's public has long relied on government-subsidized fuel, bread and energy that account for nearly one-third of the nation's budget.
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Oil price hike could cause 200% increase in cost of other goods: CPA
Zeinab Awad Allah also warned the cost increase could start monopolies and would cause public anger and backlash.
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Egypt cuts natural gas subsidies to factories, increase by 30-75%
Egypt's government said it was determined to tackle the subsidies' burden and cut most within five years.
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Gas shortage puts brake on several petchem projects in Egypt
The country is suffering from a shortage in gas supplies, which has affected completion of some petrochemical projects.
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Egypt raises fuel prices by up to 78 percent from midnight -oil ministry source
Egypt will raise fuel prices in ranges that reach up to a 78 percent hike starting midnight, an Oil Ministry source told Reuters on Friday.
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Rising gas prices influence consumers' spending?
There is positive relationship between the cost of gas and the percent of consumers who change their spending patterns because of gas prices.
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Egypt saves EGP41 billion after cuts in energy, electricity subsidies
Subsidy going to energy amounts to LE100.3 billion after the cuts, while the electricity sector gets LE27.2 billion in the new budget.
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Egypt oil, gas possible once subsidies ease
Explorers in Egypt expect constraints on domestic energy prices to loosen, urging new investment in oil and natural gas fields.
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Amid fuel price rise, Vodafone Egypt will increase prices for services
An official Source in Vodafone Egypt revealed that in case of boosting fuel price Vodafone will increase prices for its services.
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Egypt's government to raise electricity and petrol prices next month: Minister
State to raise prices of all petroleum products and electricity in order to reduce budget deficit to 10 percent of GDP by 2015.
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Israel's Leviathan Gas Field Partners set for talks to supply BG in Egypt
The letter sets out terms of a final accord, including the sale of 7 billion cubic meters of gas a year for 15 years at a price to be determined.
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Egypt's EGAS expects delay in gas import terminal -source
Egypt can export LNG but cannot import it without installing the terminal.