Mohamed Farag

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Latest by Mohamed Farag


Exploration drilling in Nour field begins in September

A source at the Ministry of Petroleum said that the Italian company Eni and Tharwa Petroleum Company will begin digging the first exploration well of the Nour gas field in the concession area in the Mediterranean after obtaining the necessary approvals from the Ministry of Petroleum. Drilling is expected to begin in mid-September

Mohamed Farag

Egypt and Saudi Arabia postpone interconnection agreements indefinitely

Egypt and Saudi Arabia have again postponed awarding the tender for the electricity grid between the two countries, despite assurances from the joint committee of its willingness to sign the final contracts for the project at the end of this month. Government sources told Daily News Egypt that the companies competing for the tender of …

Mohamed Farag

30 companies to start implementation of solar energy projects in Benban

Thirty companies from Aswan started implementing solar energy projects with the feed-in tariff scheme in Benban, Aswan, after their documents were reviewed by Hassan Allam, who is responsible for managing services at the project site. Hossam Allam, chief executive officer of Hassan Allam services, said that 30 companies from Benban were nominated to work on …

Mohamed Farag

Daily gas production up by 1.5bn scf/day: Petroleum Ministry

The Ministry of Petroleum announced that the total daily added production of natural gas since the beginning of 2017 thus far amounted to about 1.5bn standard cubic feet per day (scf/day) and 5,170 barrels of condensates. The ministry explained that the plans and programmes of work that have been implemented have contributed to increasing Egypt’s …

Mohamed Farag

Solar energy companies complain of stalled road construction in Benban

Solar energy investors complained about delays in implementing the main roads and subways at the construction site in Benban, Aswan. They expressed dissatisfaction with the lack of completion of roads comes despite the New and Renewable Energy Authority (NREA) contracting with a private company for implementation more than four months ago. The heads of solar …

Mohamed Farag

20% increase in petrol pumping rates to occur during Eid

Abed Ezz El Regal, chairperson of the Egyptian General Petroleum Corporation (EGPC), said that there will be increases in the pumping rates of petrol in the market, from 20m litres per day to 24m litres per day, a 20% increase across the country. He added that through distribution companies, the corporation will also increase diesel …

Mohamed Farag

Four years of stability, development at Electricity Ministry: Shaker

Minister of Electricity Mohamed Shaker managed to achieve a boom in the electricity sector over the past four years when he took office at a time when the ministry was suffering from deterioration and negligence, such as the frequent power outages and poor services provided to citizens.  Shaker signed many agreements in the sector and …

Mohamed Farag

Tarek El-Molla: Three years of petroleum discoveries, exploration agreements

The petroleum sector recovered after a difficult time following the events of the 25 January 2011 revolution. Over the past four years, the sector managed to achieve distinct results in various petroleum activities after political and security stability returned to Egypt, with the measures taken by the state to bring back investment and encourage major …

Mohamed Farag

electricity

EGP 625m electricity stolen in five months

The sum collected by electricity distribution companies for theft of electric currents and cables reached EGP 625m from the beginning of the year through May. Sources at the Ministry of Electricity said that the electricity police filed thousands of reports from January to May. Additionally, the phenomenon of informal buildings has increased, resulting in the …

Mohamed Farag

HCWW dues to electricity companies at EGP 7.8bn

The Ministry of Electricity’s dues owed by the Holding Company for Water and Waste Water (HCWW) have jumped to EGP 7.8bn, sources from the ministry said. The sources at the Ministry of Electricity revealed that they had addressed the officials of the HCWW by paying part of the debts and committing to pay the monthly …

Mohamed Farag

EGPC negotiates with 5 banks for EGP 4bn loans

The Egyptian General Petroleum Corporation (EGPC) has started negotiations with five local and Arab banks to obtain EGP 4bn in loans to purchase and supply petroleum products. Sources from the EGPC told Daily News Egypt that the banks are Banque Misr, the National Bank of Egypt (NBE), National Bank of Kuwait (NBK), Al Ahli Bank …

Mohamed Farag