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Two European firms mull USD 270 mn investments in plays on Egypt’s growing gold industry
EGAS has signed off on the two factories’ requests for natural gas supplies
Egypt hikes car fuel prices by by 8-21%
Diesel car drivers saw the biggest increase, with a 21.2% hike to EGP 10 per liter
House approves USAID grants, oil licenses
The House and the Senate will break as they prepare for El Sisi’s swearing-in ceremony in April
Chevron to drill first Nargis 2 gas well by end of 2024
Chevron will initially invest USD 60 mn in the drilling
Five companies are mulling sukuk issuances this year. PLUS: News from Contact, Hassan Allam Properties
Among the interested companies are Contact Financial Holding and MNT-Halan’s Tasaheel
Gov’t ramps up efforts to clear import backlog following currency float
USD 12 bn of goods have been released since the start of 2024
Banks roll out high interest rate CDs, ease currency controls on credit cards
The parallel market is “on its way to disappearing completely,” Banque Misr Chairman Mohamed El Etreby said
Gov’t awards 11 concessions for gas exploration in the western Mediterranean. PLUS: Shelf Drilling, Sabbour Consulting, Sky Developments
The concessions were awarded to BP, ExxonMobil, TotalEnergies, Chevron, and Shell.
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