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Egypt’s natural gas output is expected to reach 6.4 bcf/d by mid-2018, by which time Zohr will be producing 750 mcf/d and the Nooros gas field will be producing 100 mcf/d, Oil Ministry sources tell Al Borsa. Oil Minister Tarek El Molla had previously said natural gas output will reach 6.2 bcf/d by the end […]
Author Archives: enterpriseam admin
Posted inEnergy
Naftogaz’ Egypt operations see profits this year for the first time since 2007
Ukraine’s Naftogaz reported that its oil and gas operations have seen a profit for the first time since 2007. “This year we've received a net cash surplus of USD 5 mn. Prior to that, our losses were estimated at USD 20-30 mn every year," Naftogaz Chief Commercial Officer Yuriy Vitrenko, according to UNIAN. The announcement […]
Posted inEnergy
Misr Petroleum begins trial runs on Badr oil storage complex
Misr Petroleum has begun trial runs on its USD 30 mn petroleum storage complex in Badr City, Ahram Gate reports. The facility, which can store up to 33 mn liters of oil, is a crucial storage component for fuel destined for the Greater Cairo area, Oil Minister Tarek El Molla said at launch ceremony.
Posted inInfrastructure
Irrigation Ministry planning new dam in Shalatin area
Egypt’s Irrigation Ministry is planning a 12m-high dam in the disputed Shalatin area, head of the ministry’s ground water department Sameh Sakr said earlier in the week, Mubasher reports. The dam, with the ministry says will be the biggest in Egypt’s Eastern Desert, will have a storage capacity of 7 mn cubic meters of water […]
Posted inBasic Materials + Commodities
Delegation of grape exporting companies to visit Canada in February
A group of grape exporters will visit Canada in February 2018 to attempt to tap into the country’s USD 650 mn grape import market, according to Egypt Today. The Food Export Council will also choose 10 companies to participate in the SIAL Canada food and beverage exhibition in May 2018, where meetings will be arranged […]
Posted inBasic Materials + Commodities
Obour Land to import 1,500 heifers for their new dairy farm
Obour Land plans to import 1,500 heifers from Germany for the dairy farm the company plans to establish under the brand name Obour Farm, the company’s head of IR Ahmed Abdel Moneim tells Al Borsa. 500 cows will initially be used when the farm kicks off operation in January 2018, he added. Obour Land announced […]
Posted inBasic Materials + Commodities
GASC receives eight offers in int’l wheat tender
The General Authority for Supply Commodities (GASC) purchased 295k tonnes of Russian and Ukrainian wheat in a tender yesterday, traders tell Reuters’ Arabic service. Of those, 60k tonnes were acquired from the Ukraine at USD 208 per tonne, while the other four shipments are Russian and range in price from USD 207.89-209.15 per tonne, they […]
Posted inTourism
EHCAAN spending USD 57 mn on security
The Egyptian Holding Company for Airports and Air Navigation (EHCAAN) is spending USD 57 mn to upgrade and develop its security hardware and systems, Chairman Mohamed Said said yesterday, Al Borsa reports. The upgrades will be implemented over two phases, he said, without providing additional detail on the plan.
Posted inTourism
Tourism Ministry bars companies from booking with unlicensed travel agents
The Tourism Ministry issued a decision which bars tourism companies from booking trips with travel agents that are not licensed by the ministry. The decision was published on the Official Gazette on Tuesday,Al Borsa reports.
Posted inBanking + Finance
PHD considers upping securitized bond issuance to EGP 1.6 bn next year
Palm Hills Development (PHD) is considering increasing its securitized bond issuance to EGP 1.6 bn from EGP 500 mn, PHD Chairman Yassin Mansourtells Al Borsa. The company is looking into making the first issuance of EGP 800 mn in February 2018, and have the second half in mid-2018, he added. PHD had said last month […]