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Gov’t pays back some of its dues to Pharos Energy. PLUS: News from Juhayna
The payment marks 27% of the EGPC’s dues by the end of last year.
Gov’t’s Pharos Energy bill rises to USD 37 mn. PLUS: Schneider solar projects, Tata Motors team up with MM Group, ValU + Bosta + PayTabs, Heliopolis Housing project, Nokia factory, new ADIB microfinance firm
The company intends to refrain from retrieving its USD-denominated receivables due to the exchange rate volatility.
More oil investment from Transglobe + Pharos
Transglobe, Pharos Energy sign USD 506 mn oil E&P agreements: The Oil Ministry signed oil exploration and production agreements with…
Two renewable energy producers want to delay work on their Egypt projects
Global inflation is delaying renewable energy projects in Egypt: Two major Middle Eastern energy companies have recently asked to postpone…
Pharos Energy to sell majority stakes in Egypt oil concessions
Pharos Energy has reached a farmout agreement that will see it sell majority stakes in its two Egyptian oil concessions…
Also on our Radar on 31 March 2021
Egypt-Sudan electricity link gets a boost: Siemens Energy was awarded a contract to build two grid stabilization stations in Sudan…
Pharos Energy announces cutbacks, reduced output in Egypt on oil price collapse
Pharos Energy has reduced capital expenditures and output at its oil drilling operations in Egypt as its finances come under…
Pharos pulls out of consortium bidding for Shell’s Egypt assets
Pharos Energy bails on consortium eyeing Shell Egypt assets: Pharos Energy has withdrawn from a consortium in the running to…
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