{"id":630337,"date":"2018-04-18T04:14:41","date_gmt":"2018-04-18T04:14:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/oil-and-gas-imf-report-and-sophia-the-robot\/"},"modified":"2018-04-18T04:14:41","modified_gmt":"2018-04-18T04:14:41","slug":"oil-and-gas-imf-report-and-sophia-the-robot","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/oil-and-gas-imf-report-and-sophia-the-robot\/","title":{"rendered":"Oil and gas, IMF report, and Sophia the robot"},"content":{"rendered":"

Egypt\u2019s upcoming oil and gas agreement with the EU and the World Bank\u2019s latest Economic Outlook report dominated the conversation on the airwaves<\/strong> last night (we have chapter and verse on both in the Speed Round, below).<\/p>\n

Egypt is expecting the results of seismic scans of the Red Sea back by the end of June in order to determine the blocks it intends to tender <\/strong>off to oil and gas exploration before the year is up, Oil Minister Tarek El Molla told Hona Al Asema\u2019s Lamees Al Hadidi in phone-in. The border demarcation agreement with Saudi Arabia has opened up more exploration opportunities in the Red Sea, he also said, adding that structural and legislative reforms \u2014 such as the Natural Gas Act \u2014 have helped attract sizeable investments to the sector (watch, runtime: 41:18<\/a>).<\/p>\n

Egypt will pay back a large of chunk of its arrears to international oil companies in less than two months\u2019 time<\/strong>, El Molla also said, adding that the ministry intends to clear its obligations to IOCs completely in about two years (watch, runtime: 1:30<\/a>).<\/p>\n

The ministry is still planning to implement further gradual subsidy cuts to bring down its costs, <\/strong>Oil Ministry spokesman Hamdy Abdel Aziz told Al Hayah Al Youm\u2019s Tamer Amin (watch, runtime: 2:46<\/a>).<\/p>\n

Finance Minister Amr El Garhy also offered Lamees his two cents on the World Bank\u2019s Economic Outlook report, <\/strong>which sees Egypt\u2019s GDP growth rate climbing to 5% this year. Speaking from Washington, DC, El Garhy said that the report sees unemployment dropping to 11.1% this fiscal year and sinking lower to 9.7% in the next. He confirmed that an IMF delegation is due in Cairo in May to review progress on economic reform before disbursing a USD 2 bn tranche of Egypt\u2019s USD 12 bn extended fund facility (watch, runtime: 8:58<\/a>).<\/p>\n

The report is generally \u201cpositive\u201d and reflects the strength in investments and improvements in exports as well as tourism, <\/strong>former Banque Misr deputy chairman Sahar El Damaty told Sherif Amer on Yahduth fi Misr. Amer pointed out that the report sees inflation at 14% by the end of 2018 compared to government projections of around 13% (watch, runtime: 5:56<\/a>).<\/p>\n

MPs will be meeting with the ministers of finance and planning to discuss the FY2018-19 budget<\/strong>, Parliament\u2019s Budget Committee chair Omar Yasser told Amer. The budget is Egypt\u2019s largest to-date, according to MP Mohamed Badrawy (watch, runtime: 4:12<\/a>), but it still does not factor in the full cost of Egypt\u2019s long-awaited educational reform plan, Omar noted (watch, runtime: 2:03<\/a>).<\/p>\n

Education Minister Tarek Shawky promised change for the better on last night\u2019s Kol Youm to discuss the five-year educational reform strategy.<\/strong> He told Amr Adib that parents should trust the ministry in its plans to overhaul the system and do away with Thanaweya Amma, adding that the government is aware of the obstacles ahead (watch, runtime: 1:19<\/a>).<\/p>\n

Meanwhile, Sophia the robot made an appearance on Masaa DMC for a chat with host Osama Kamal. <\/strong>Proceed at your own risk (watch, runtime: 12:23<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s upcoming oil and gas agreement with the EU and the World Bank\u2019s latest Economic Outlook report dominated the conversation on the airwaves last night (we have chapter and verse on both in the Speed Round, below). Egypt is expecting the results of seismic scans of the Red Sea back by the end of June […]<\/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":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630337","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"2f8507e2-5b76-45dd-91a9-a4bad48860b0","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630331],"teaser":"","voice_url":""},"yoast_head":"\nOil and gas, IMF report, and Sophia the robot - 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\/04\/18\/oil-and-gas-imf-report-and-sophia-the-robot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil and gas, IMF report, and Sophia the robot\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s upcoming oil and gas agreement with the EU and the World Bank\u2019s latest Economic Outlook report dominated the conversation on the airwaves last night (we have chapter and verse on both in the Speed Round, below). 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Kamel El Wazir as new Transport Minister led the airwaves last night (watch, runtime: 02:21), (watch, runtime: 04:33) (watch, runtime: 03:08) and (watch, runtime: 06:33). We have more in this morning\u2019s Speed Round, below.The launch of the first oil and gas exploration tender in the Red\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596482,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/29\/el-sisi-meets-abe-in-japan-cabinet-passes-new-energy-exploration-agreements\/","url_meta":{"origin":630337,"position":1},"title":"El Sisi meets Abe in Japan, Cabinet passes new energy exploration agreements","author":"enterpriseam admin","date":"29 August 2019","format":false,"excerpt":"Talk shows look like they\u2019re about ready for the weekend: President Abdel Fattah El Sisi\u2019s meeting with Japanese Prime Minister Shinzo Abe at the Tokyo International Conference on African Development (Ticad) was more or less the talk of the town last night (watch, runtime: 04:24) and (watch, runtime: 01:49). We\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604224,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/28\/govt-to-offer-up-to-10-oil-and-gas-concessions-in-exploration-tender\/","url_meta":{"origin":630337,"position":2},"title":"Gov\u2019t to offer up to 10 oil and gas concessions in exploration tender","author":"enterpriseam admin","date":"28 August 2023","format":false,"excerpt":"Concessions could be up for grabs in the Gulf of Suez, Red Sea, and South Valley","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1256.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632795,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/20\/usd-15-bn-gas-pact-with-israel-dominates-the-debate-on-the-airwaves\/","url_meta":{"origin":630337,"position":3},"title":"USD 15 bn gas pact with Israel dominates the debate on the airwaves","author":"enterpriseam admin","date":"20 February 2018","format":false,"excerpt":"Business ruled the airwaves last night. Dolphinus Holdings\u2019 USD 15 bn natural gas import agreement with Israel\u2019s Delek Drilling and Noble Energy dominated the debate, causing a stir that had Oil Minister Tarek El Molla calling up the nation\u2019s talking heads all night to explain how the deregulation of the\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569062,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-petroleum-show-tops-coverage-on-last-nights-talk-shows\/","url_meta":{"origin":630337,"position":4},"title":"Egypt Petroleum Show tops coverage on last night\u2019s talk shows","author":"enterpriseam admin","date":"12 February 2020","format":false,"excerpt":"The Egypt Petroleum Show (EGYPS) was the topic du jour on the airwaves last night. The three-day event has already seen the Egyptian General Petroleum Corporation (EGPC) sign an agreement with US-based construction firm Bechtel to establish a USD 6.7 bn petroleum refinery, which we recap in full in this\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600891,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/african-union-wrap-up-egypt-petroleum-show-compete-for-talking-heads-attention\/","url_meta":{"origin":630337,"position":5},"title":"African Union wrap-up, Egypt Petroleum Show compete for talking heads\u2019 attention","author":"enterpriseam admin","date":"13 February 2019","format":false,"excerpt":"The final outcomes of the African Union summit and the influx of updates from the Egypt Petroleum Show were competing for the talking heads attention last night. We have all the details on the latter in Speed Round, below.President Abdel Fattah El Sisi set a \u201croadmap\u201d for Egypt\u2019s plans during\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=630337"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630337\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630331"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630337"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630337"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}