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Egyptian gov’t retracts oil hedging contracts as crude falls short of budget forecast
EXCLUSIVE- Gov’t walks away from fuel hedging plan as oil price plunge sees crude trading below budget prediction: The Finance…
Energy
Egypt’s B Investments mulling USD 15-20 mn acquisition in Benban solar plant
M&A WATCH- B Investments eyes 50% stake in 50 MW Benban solar plant: Private equity firm B Investments is looking…
Elsewedy subsidiary to develop SCZone area for estimated EGP 10 bn
INVESTMENT WATCH- Elsewedy to develop EGP 10 bn industrial zone in SCZone: An Elsewedy Electric subsidiary has signed a contract…
BP and Mubadala Petroleum buy stakes in Egypt’s Nour concession
INVESTMENT WATCH- BP buys 25% stake in Eni’s Nour concession: BP has acquired a 25% stake in the Nour concession…
Consortium to provide EGPC with USD 750 mn loan for arrears
A Mashreq Bank-First Abu Dhabi Bank-HSBC consortium is arranging a USD 750 mn, five-year loan for the Egyptian General Petroleum…
GASC purchases 350,000 tonnes of wheat
The General Authority for Supply Commodities purchased 350,000 tonnes of wheat last Thursday in an international tender, according to Reuters.…
Egypt’s natural gas production to increase to 8 bcf/d by 2021
Egypt’s natural gas production is expected to reach 8 bcf/d by 2021, up from 6.2 bcf/d currently, a source from…
Siemens Gamesa captures 97% of wind energy market in Egypt and 53% in Africa
Siemens Gamesa holds 97% of the wind energy market in Egypt and 53% in Africa, the company said in press…
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