{"id":622364,"date":"2024-06-05T00:00:00","date_gmt":"2024-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/"},"modified":"2024-06-05T00:00:00","modified_gmt":"2024-06-05T00:00:00","slug":"egypt-slashes-gas-supplies-to-fertilizer-companies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/","title":{"rendered":"Egypt slashes gas supplies to fertilizer companies"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone. <\/strong>It\u2019s a busy morning here in Egypt led by the news of activity in the non-oil private sector picking up, the latest on privatization, and Al Ahly\u2019s world-class sports city. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BEFORE WE DIVE IN- <\/strong>Don\u2019t worry, the extended power cuts were just a one-time thing. The Electricity Ministry yesterday extended the duration of the daily power cuts by an hour to \u201callow for preventative maintenance on its regional gas and power networks and because of increased consumption caused by a heatwave,\u201d <a target=\"_blank\" href=\"https:\/\/english.alarabiya.net\/News\/north-africa\/2024\/06\/04\/egypt-adds-an-extra-hour-to-rolling-power-blackouts\" style=\"\" rel=\"noopener\">Reuters<\/a> wrote. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Home appliances to see another drop in prices?<\/strong> Household appliance manufacturers and retailers are set to start slashing prices no less than 5-10% in response to the goods recently released from customs and from the first post-float import cycle hitting the market, Federation of Egyptian Industries\u2019 household appliances division head Hassan Mabrouk told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/04\/%D9%85%D9%88%D8%AC%D8%A9-%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%A8%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%A3%D8%AC%D9%87%D8%B2%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D8%B2%D9%84%D9%8A%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D8%AE%D9%84%D8%A7%D9%84-%D8%A3%D9%8A%D8%A7%D9%85\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Gov\u2019t slashes gas supplies to fertilizer companies: <\/strong>The Oil Ministry has once again reduced the natural gas supplies to energy-intensive fertilizer companies by 20-30%, pushing a number of factories to close their doors until their gas supplies go back to normal levels, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/egypt-economy\/2024\/06\/04\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AE%D9%81%D8%B6-%D8%A7%D9%85%D8%AF%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D8%B7%D8%A8%D9%8A%D8%B9%D9%8A-%D8%A7%D9%84%D9%89-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D8%B3%D9%85%D8%AF%D8%A9-%D9%88%D8%AA%D9%88%D8%AC%D9%87%D9%87-%D9%84%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a> reports, citing unnamed officials familiar with the matter. The decision has affected all fertilizer companies operating in the local market. The cut supplies will be redirected to feed power generators during a time of heightened demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sounds familiar? <\/strong>The government last <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b88824c5-9f39-426c-8a60-5a3bb22b10a6\/gas-supplies-to-energy-intensive-industries-slashed-by-up-to-30%2525\" style=\"\" rel=\"noopener\">cut gas supplies<\/a> to energy-intensive industries by up to 30% in November, targeting fertilizer, iron, and aluminum companies, in response to a dip in gas supplies triggered by the war in Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egyptians have been suffering from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36d5ff0c-c1db-44e1-bdff-b5742c358939\/the%253cmark%253e-blackouts%253c%2Fmark%253e-aren%25e2%2580%2599t-going-anywhere-for-a-while\" style=\"\" rel=\"noopener\">rolling blackouts<\/a> since last summer, as the government works to ration the consumption of natural gas production. The power cuts were originally blamed on summer heat waves, but after temperatures have fallen, officials noted that the one-hour cut saves the country some USD 300 mn per month.<\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with a high of 38\u00b0C and a low of 25\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 31\u00b0C and a low of 22\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s less than 30 days to go until the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cccpa-eg.org\/news-details\/1172\" style=\"\" rel=\"noopener\">Aswan Forum for Sustainable Peace and<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cccpa-eg.org\/news-details\/1172\" style=\"\" rel=\"noopener\">Development<\/a><\/strong>, which will be held in Cairo on 2-3 July. This year\u2019s forum will be on the theme of Africa in a Changing World: Re-envisioning Global Governance for Peace and Development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p class=\"tag-border-left\">WAR WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Egyptian officials in Doha for ceasefire talks:<\/strong> Several Egyptian officials are in Qatar today to meet their US and Qatari counterparts to hold discussions centered around reopening ceasefire negotiations, <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/82972\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D9%85%D8%B5%D8%B1%D9%8A-%D9%82%D8%B7%D8%B1%D9%8A-%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A-%D8%A8%D8%A7%D9%84%D8%AF%D9%88%D8%AD%D8%A9-%D8%BA%D8%AF%D8%A7-%D9%84%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D9%87%D8%AF%D9%86%D8%A9-%D8%A8%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> reports, citing high-level sources. .<\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A third term for Modi \u2026 maybe:<\/strong> Indian Prime Minister Narendra Modi is on track to become the country\u2019s first prime minister to secure a third term in over 60 years after his coalition the Bharatiya Janata Party (BJP) won a little more than half of the 543 seats in the country\u2019s lower house. Modi has lost his parliamentary majority \u2014 a surprise to pundits \u2014 and now has to work with allies to form a government. The opposition INDIA alliance holds some 233 seats. The result is seen as a blow to Modi\u2019s dominance, with analysts noting a shift towards \u201calliance politics\u201d and a more negotiated government. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1de49cb9-db2c-446f-8ee4-9bdbb4a7625b\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/397bbe91-ee0e-45fe-855c-37c89c14795d\/shareholders-can-buy-into-qalaa%25e2%2580%2599s-debt-today\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/04\/indias-narendra-modi-declares-victory-despite-election-blow.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-04\/india-election-2024-why-modi-bjp-s-lead-was-narrower-than-expected?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> is out with a piece detailing what went wrong for Modi and what we expect next from the Indian government. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN ELECTIONS- Sunak vs. Starmer. <\/strong>UK Prime Minister Rishi Sunak went head-to-head with Labour Party leader Keir Starmer in their first debate weeks before the Brits head to the polls. Their debate saw them take digs at each other\u2019s election promises, with Sunak telling viewers that Starmer\u2019s party will \u201craise your taxes. It\u2019s in their DNA. Your work, your car, your pension.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Round two: <\/strong>The two will face off again on 26 June and take part in a seven-way debate on Friday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-04\/sunak-starmer-clash-on-taxes-in-crunch-uk-election-tv-debate?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg writes<\/a>. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/article\/2024\/jun\/04\/sunak-and-starmer-scrap-over-tax-and-immigration-in-heated-first-tv-debate\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/06\/04\/keir-starmer-rishi-sunak-debate-uk-election\/\" style=\"\" rel=\"noopener\">The Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/32ffd10b-564d-404c-8744-2d4b869137d3\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cz55pm66lgko\" style=\"\" rel=\"noopener\">BBC<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>OIL WATCH- Oil extends losses:<\/strong> Oil prices fell another USD 1 a barrel yesterday, extending losses that pushed them to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16a75d07-03f7-4861-b1b3-ddb50c96e82e\/\" style=\"\" rel=\"noopener\">four-month lows<\/a>. Brent crude fell to a low of USD 76.76 a barrel yesterday, while US West Texas Intermediate crude fell to USD 73.25. Brent has now fallen 8% over the past week, as \u201crising oil inventories and weak economic data have fuelled concerns that global demand will remain depressed, while stubbornly high inflation will cause central banks to delay interest rate cuts,\u201d writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c2bc1958-eb3f-4ffc-8f66-ee78a4ab7350\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at how smart mobility projects in Egypt and across the region are working to create safer, more efficient, and less polluted cities and the hurdles they face.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, everyone. It\u2019s a busy morning here in Egypt led by the news of activity in the non-oil private sector picking up, the latest on privatization, and Al Ahly\u2019s world-class sports city. BEFORE WE DIVE IN- Don\u2019t worry, the extended power cuts were just a one-time thing. The Electricity Ministry yesterday extended the duration [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":622365,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[72,99,91,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-fertilizers","tag-oil-and-gas","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8ed9f513-cab1-455f-bd15-1ef7ab0cb702","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/6\/417.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt slashes gas supplies to fertilizer companies","related_issue":[622362],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.0b73c9e9-f3d8-4a7f-af4b-48f1735fc90c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt slashes gas supplies to fertilizer companies - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt slashes gas supplies to fertilizer companies\" \/>\n<meta property=\"og:description\" content=\"Good morning, everyone. It\u2019s a busy morning here in Egypt led by the news of activity in the non-oil private sector picking up, the latest on privatization, and Al Ahly\u2019s world-class sports city. BEFORE WE DIVE IN- Don\u2019t worry, the extended power cuts were just a one-time thing. The Electricity Ministry yesterday extended the duration [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-05T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/417.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt slashes gas supplies to fertilizer companies\",\"datePublished\":\"2024-06-05T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/\"},\"wordCount\":924,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/417.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"fertilizers\",\"oil and gas\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/egypt-slashes-gas-supplies-to-fertilizer-companies\/\",\"name\":\"Egypt slashes gas supplies to fertilizer companies - 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We\u2019ve got a rather brisk issue in store for you today as we inch closer and closer to Ramadan \u2014 speaking of which, we caught up with Egyptian food entrepreneur Yasmine El Gharably to talk all things Ramadan, gatherings, and food. 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