Egypt

Egypt to sell stake in Wataniya within 2 months at most

Published on : 2023-12-10

The Egyptian government is considering concluding the sale of a stake in the fuel retailer Wataniya within a maximum of a month or two, Minister of Planning and Economic Development Hala Elsaid said in an interview.

On October 17th, Elsaid announced that Egypt would finalize the deal on the sale of a stake in the Wataniya within four to six weeks.

She added that the government has shortlisted the potential qualified purchasers.

ADES wins jackup drilling contract in Egypt

Saudi-listed ADES Holding Company said it has received a direct award of contract (DAC) from Suez Oil Company (SUCO) in Egypt for three jackup drilling rigs in the Gulf of Suez, which is expected to commence in the coming weeks.