{"id":625694,"date":"2018-08-13T04:18:22","date_gmt":"2018-08-13T04:18:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/"},"modified":"2018-08-13T04:18:22","modified_gmt":"2018-08-13T04:18:22","slug":"govt-selects-firm-to-sign-fuel-hedging-contract","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/","title":{"rendered":"Gov\u2019t selects firm to sign fuel hedging contract"},"content":{"rendered":"<p><strong>Gov\u2019t selects firm to sign fuel hedging contract: <\/strong>The ministries of finance and oil have settled on the firm which will sign fuel hedging contracts with the government, a government source told Enterprise. The source refused to reveal the winner of a tender issued by the Oil Ministry to select an institution to provide Egypt with fuel hedging solutions to prevent higher oil prices from further straining the state budget, which assumes an average price of USD 67\/bbl. The winning firm had offered to help Egypt hedge against oil futures rising above USD 73\/bbl, the source added, saying that oil prices are expected to stand at USD 70\/bbl by the end of 2018. The contracts are currently being reviewed by a legal adviser appointed by the government and will be signed following the next OPEC meeting, the source added. <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/25\/finance-ministry-committee-to-begin-reviewing-fuel-hedging-offers-in-july\/\">We had heard<\/a> that seven offers were already on the table and under review from international banks bidding on the tender.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gov\u2019t selects firm to sign fuel hedging contract: The ministries of finance and oil have settled on the firm which will sign fuel hedging contracts with the government, a government source told Enterprise. The source refused to reveal the winner of a tender issued by the Oil Ministry to select an institution to provide Egypt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625694","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"20b79b88-544f-4e04-adee-7fa17d78d037","order":"0","is_powered_by":true,"section_story_id":"525a9782-ac41-4983-8e49-a19eace382b5","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625686],"teaser":"","voice_url":""},"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>Gov\u2019t selects firm to sign fuel hedging contract - 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\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t selects firm to sign fuel hedging contract\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t selects firm to sign fuel hedging contract: The ministries of finance and oil have settled on the firm which will sign fuel hedging contracts with the government, a government source told Enterprise. The source refused to reveal the winner of a tender issued by the Oil Ministry to select an institution to provide Egypt [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-13T04:18:22+00:00\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t selects firm to sign fuel hedging contract\",\"datePublished\":\"2018-08-13T04:18:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/\"},\"wordCount\":169,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/\",\"name\":\"Gov\u2019t selects firm to sign fuel hedging contract - 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The government will sign up\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597140,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/17\/egypt-eyes-setting-crude-price-in-hedging-contract-at-usd-64-68\/","url_meta":{"origin":625694,"position":1},"title":"Egypt eyes setting crude price in hedging contract at USD 64-68","author":"enterpriseam admin","date":"17 July 2019","format":false,"excerpt":"Egypt eyes pricing crude at USD 64-68 in new hedging contract: Crude oil prices will be set at USD 64-68 per bbl in the government\u2019s fuel hedging contracts with international banks, which are due to be renewed soon for the new fiscal year, an unnamed government source estimated, according to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/172.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624325,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/did-egypt-sign-fuel-hedging-contracts-with-jp-morgan-and-citi\/","url_meta":{"origin":625694,"position":2},"title":"Did Egypt sign fuel hedging contracts with JP Morgan and Citi?","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"Did the gov\u2019t sign fuel hedging contracts with JP Morgan and Citi? The Egyptian government reportedly signed fuel hedging contracts with two international banks,a senior official told Reuters\u2019 Arabic service yesterday. Other sources speaking to the local press say that the firms were JP Morgan and Citibank. While the source\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596528,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/egypt-plans-fuel-hedging-for-fy2019-2020-confirms-hedging-took-place-in-fy2018-19\/","url_meta":{"origin":625694,"position":3},"title":"Egypt plans fuel hedging for FY2019-2020, confirms hedging took place in FY2018-19","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"Government plans fuel hedging for FY2019-2020, confirms hedging took place in FY2018-2019: Egypt is planning to hedge against rising oil prices for the second year in a row, Finance Minister Mohamed Maait said in an interview last week, Bloomberg reports. This comes two weeks after a government source told the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/661.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599001,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/16\/egypt-looking-at-usd-65-70-bbl-in-fuel-hedge-set-to-take-effect-in-july\/","url_meta":{"origin":625694,"position":4},"title":"Egypt looking at USD 65-70\/bbl in fuel hedge set to take effect in July","author":"enterpriseam admin","date":"16 June 2019","format":false,"excerpt":"Gov\u2019t looking at USD 65-70\/bbl in fuel hedge contracts set to take effect in July: The finance and oil ministries have started renegotiating the USD 70\/bbl price they had agreed on under fuel hedging contracts set to take effect next month, a government source told the local press. The government\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/104.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604674,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/egyptian-govt-retracts-oil-hedging-contracts-as-crude-falls-short-of-budget-forecast\/","url_meta":{"origin":625694,"position":5},"title":"Egyptian gov\u2019t retracts oil hedging contracts as crude falls short of budget forecast","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t walks away from fuel hedging plan as oil price plunge sees crude trading below budget prediction: The Finance Ministry has pulled fuel hedging contracts it was due to finalize with two banks as crude prices proved lower than annual budget projections, a government source told Enterprise. 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