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Financials and Investment News in Egypt

DFSA Signs MoU with the Central Bank of Egypt
8/7/2019 - The Dubai Financial Services Authority (DFSA) signed a memorandum of understanding (MoU) with the Central Bank of Egypt (CBE) to enhance the relationship and cooperation between both institutions and ...
Dana Gas Receives $48M from Its Operations in Egypt
Dana Gas Receives $48M from Its Operations in Egypt 6/29/2019 - Dana Gas PJSC has received payments of $48 million (AED 177 million) from its operations in Egypt in June. These collections comprise $38 million in payments from the government (of which $30 million ...
Egypt's New Budget Cuts Fuel Subsidies by 40.5 Percent in FY 2019/20
Egypt's New Budget Cuts Fuel Subsidies by 40.5 Percent in FY 2019/20 4/16/2019 - A finance ministry report on Egypt’s new budget (2019/20) showed that fuel subsidies will be reduced by EGP 36.112 billion (40 percent) in the new fiscal year, Finance Minister Mohamed Mait said in a ...
95 Octane Gasoline Price Will Remain Fixed for Coming 3 Months in Egypt
95 Octane Gasoline Price Will Remain Fixed for Coming 3 Months in Egypt 4/1/2019 - Egypt's Ministry of Petroleum decided to fix the sale price of 95 octane gasoline in the local market for three months to remain at EGP 7.75 per litre during the second quarter of this fiscal year, ac...
Dana Gas Receives $19m from Egypt
Dana Gas Receives $19m from Egypt 3/31/2019 - Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, has received a payment of $19 million (AED 70 million) from its operations in Egypt. This payment is made up of a ...
Petrojet Revenues Hit EGP 26.5B in 2018
Petrojet Revenues Hit EGP 26.5B in 2018 3/29/2019 - Revenues of the Petroleum Projects and Technical Consultations Co. (Petrojet) upped by 12 percent during the full-year 2018, recording EGP 26.5 billion, compared to 2017. ...
El-Molla & EBRD Review Opportunities of Cooperation
El-Molla & EBRD Review Opportunities of Cooperation 3/6/2019 - Petroleum Minister Tareq el Molla had talks with First Vice President of the European Bank for Reconstruction and Development (EBRD), Jurgen Rigterink, on opportunities for promoting bilateral coopera...
2018 Gross Profit Increased 19% to $140 Million
2/14/2019 - Dana Gas PJSC ("Company"), the Middle East's largest regional private sector natural gas company, today announced its Preliminary Unaudited Financial Results for the full year ended 31 December 2018. ...
Egypt to Implement Gasoline Price Mechanism in April
Egypt to Implement Gasoline Price Mechanism in April 1/7/2019 - Egypt will implement an automatic price indexation mechanism on 95 octane gasoline starting in April which will limit price changes to 10 percent, Petroleum Minister Tarek El Molla said. ...
Egypt Signs Oil Hedging Deals with Two Banks
Egypt Signs Oil Hedging Deals with Two Banks 9/4/2018 - Egypt has signed contracts with two global banks to hedge against fluctuating global oil prices, a senior government official told Reuters. ...
Egyptian General Petroleum Corp Hires HSBC to Raise $1B Loan
Egyptian General Petroleum Corp Hires HSBC to Raise $1B Loan 7/12/2018 - Egyptian General Petroleum Corp (EGPC) has hired HSBC to arrange a loan of around $1 billion, five banking sources familiar with the matter said, the latest sign of international banks’ increased appe...
Dana Gas Receives $40M from Egypt
Dana Gas Receives $40M from Egypt 5/28/2018 - Dana Gas PJSC, the Middle East's largest regional natural gas company, has received $40 million (AED 146.8m) from the Egyptian Government towards paying down its receivables. With this payment Dana G...
Egypt to Pay off $850M in Debt to Foreign Oil Companies
Egypt to Pay off $850M in Debt to Foreign Oil Companies 5/14/2018 - Governor of Egypt's Central Bank Tarek Amer said that the country is expected to make an $850 million payment on its debts to foreign oil companies. ...
International Islamic Trade Opens $400M Credit Line for Egypt
2/1/2018 - International Islamic Trade Finance Corporation this week opened a credit line worth $400 million for Egypt to buy petroleum products in a last tranche of a $3 billion finance deal signed in 2015, Chi...
TransGlobe Announces 2018 Capital Program of $29.1M for Egypt
1/10/2018 - TransGlobe Energy Corporation (TGL) (TGA) (“TransGlobe”) announces the 2018 capital budget and promotions. All dollar values are expressed in US dollars unless otherwise stated. ...
Egypt Should Get Third Tranche after Second Review, End-2017
Egypt Should Get Third Tranche after Second Review, End-2017 9/26/2017 - Egypt is expected to receive a third installment of around $2 billion of its $12 billion IMF credit programme after a second review at the end of this year, the IMF said on Tuesday. ...
Egypt Expects IPO of State-Owned ENPPI in Q1 2018
Egypt Expects IPO of State-Owned ENPPI in Q1 2018 9/25/2017 - Egypt expects an initial public offering of state-owned oil company ENPPI during the first quarter of 2018, Investment Minister Sahar Nasr told Reuters on Monday, later than initially anticipated. ...
Petroleum Minister Meeting with the French Chamber of Commerce and Industry
Petroleum Minister Meeting with the French Chamber of Commerce and Industry 9/25/2017 - Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources announced that 2018 will witness revealing the Petroleum Ministry’s new strategy for developing Mineral Resources, in the framework of ...
Bilateral Talks with World Bank’s Director for Energy and Extractive Global Practice
Bilateral Talks with World Bank’s Director for Energy and Extractive Global Practice 9/20/2017 - Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources received Mr. Lucio Monari, Director for Energy and Extractive Global Practice in the World Bank. They reviewed, during the meeting, sta...
Minister of Petroleum Celebrating Final Installment Payment of EDCO Liquefaction Plant
Minister of Petroleum Celebrating Final Installment Payment of EDCO Liquefaction Plant 7/12/2017 - During a meeting organized by Shell on the occasion of final installment payment of EDCO liquefaction plant project, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources clarified that EDC...

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