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State electricity companies exchange stagnant spare parts saving EGP 1bn annually

State-run electricity production companies began to exchange unused spare parts in their stores for maintenance, replacement, and renovation works. An official in the ministry of electricity informed Daily News Egypt that the decision aims to ration expenses, control purchases, facilitate spare parts trading, and save time spent in this process. The decision is expected to …

Mohamed Farag

EGPC pays $3.1 per million BTUs produced from North Alexandria fields

The Egyptian General Petroleum Corporation (EGPC) is paying about $3.1 per million British thermal unit (BTUs) of British Petroleum’s(BP) share of the gas currently produced from the fields of northern Alexandria and the deep West Delta in the Mediterranean, according to the price formula linked to oil prices in world markets. A source at the …

Mohamed Adel