Egypt

ANOPC signs a $350 million transit loan with a group of local banks to complete its new project

ANOPC signed a transit loan with a group of local banks worth 350 million dollars to complete its new project. An official said that within a few days, all procedures for the financial closure of the two loans will be done.

ANOPC events in EGYPS 2022

Within the framework of the state efforts to maximize the added value of its natural resources, especially in the field of energy, which is one of the most important pillars of development and advancement of the economy, and in light of the projects of the Ministry of Petroleum and Mineral Resources to develop state-owned refineries with the aim of meeting the local market needs of petroleum products to reduce the import bill for those products.

El-Molla Chairs Meeting of Petroleum Projects Supreme Committee to follow up on new projects

Minister of Petroleum and Mineral Resources Tarek El-Molla chaired the meeting of the Higher Committee for Petroleum Projects to review the engineering and construction work progress for a number of new refining and petrochemical projects being implemented, the ministry said in a statement.

Petroleum Ministry signs $1474million facility for Assiut Hydrocracking Complex with 6 banks

The Ministry of Petroleum and Mineral Resources signed contracts to finance the establishment of a mazut production complex through the hydrogen cracking of fuel oil in Assiut with a value of $1474 million with six international banks.

United Oil & Gas production on track as Abu Sennan ramps up

All of the production came from United 22% non-operating interest in Abu Sennan

AMOC profits jump to EGP 762m

The wave in rising oil prices globally led to a big jump in Alexandria Mineral Oils Company (AMOC) business results indicators as a result of the turmoil resulting from the Russian-Ukrainian war, with the country recording EGP 762m in consolidated net profits over the past nine months, up from EGP 103m during the same period last year — a growth rate of 638%.

Egyptian Fuel Exports Grew to $1.24 Billion

According to the data of the Central Agency for Public Mobilization and Statistics, crude oil exports rose to $278 million, compared to $167 million, during the comparison period, an increase of $111 million, equivalent to 66.5%.

Egypt hikes fuel prices amid global inflationary pressures

The Egyptian government increased fuel prices by nearly three percent on Friday, as global inflationary pressures spike in the wake of Russia war on Ukraine.