Latest in Energy Highlight
Latest in Energy
Egypt has faced significant challenges in securing its electricity needs, which affected investment in previous years
‘We received offers to buy energy at 2.45 piasters from solar power plants, 3 piasters from wind farms,’ says Shaker
Wind farm’s implementation is scheduled to take place within two years
Informed sources told Daily News Egypt that the EETC has already informed the 13 companies, which had qualified to bid for the project, of its new decision.
West Texas Intermediate for September delivery rose to $41.01 a barrel, while Brent crude for October delivery climbed to $44.15 a barrel
“We proudly witness start of Barakah nuclear power plant operations, in alignment with highest international safety standards,” Abu Dhabi crown prince tweeted
Oil prices plunged as West Texas Intermediate for September delivery fell $1.35 to$39.92 a barrel, while Brent crude lost 81 cents to $42.94 a barrel
Oil prices also got a lift from weak US dollar as there is normally a reverse correlation between foreign exchange value of the US dollar and oil prices
Country’s arrears to foreign oil companies down to $850m in June, despite COVID-19, says El-Molla
The test was the latest activity in the ongoing appraisal programme at the Bashrush discovery, located in the Nile Delta’s North El Hammad concession area. The well test delivered up to 32 MMscf of gas, with a production estimate of up to 100 MMscf of gas and 800 barrels of condensate per day.
West Texas Intermediate for September delivery settled at $41.07 a barrel, while Brent crude oil for September delivery was down to close at $43.31 a barrel
US crude oil imports and exports both increased during the week ending July 17, the US Energy Information Administration
Meanwhile, Brent crude oil for September delivery advanced 1.04 dollars to close at 44.32 dollars a barrel on the London ICE Futures Exchange.
Egyptian Electricity Holding Company signed an agreement with Schneider Electric to build 4 control centers to monitor and optimize electricity network
While oil demand is still ravaged by COVID-19 crisis, gradual stabilization is expected to begin in Q2 of 2020, prompting cautious growth forecast in 2021
Several tenders already won by consortium in cooperation with local authorities, says Koraytem
New company to develop energy networks to meet growing demand for, and increase volume of, renewable energy in electricity system
The reserve, which has a 95% recovery rate, has one of the highest rates of extraction, and with a total $1bn investment over the next 10 years.
Energean will gain operations in Egypt, Italy, UK, Croatia and Malta , while Edison will keep its assets in Algeria and Norway
Electricity Ministry has programme to replace overhead cables with ground cables
Project begins in Q4 of 2020
The company added that investors will acquire a 49% stake in ADNOC Gas Pipes assets, a subsidiary of ADNOC. The subsidiary, which is newly established, has the rights to lease 38 pipelines, at a total length of 982.3 km. ADNOC will retain the remaining majority stake of 51%.
EGAS decision valid until year end
Project is part of World Bank Group’s strategy to help Egypt optimise its overall domestic electricity consumption, says Globaltronics Chairperson
EGP 100m allocated to support electricity lines in Owaynat and Gabal Al-Kamel areas
Ministry submits proposals in August 2019 to schedule debt arrears by ceramics companies, says El Molla
New meters will ensure citizens are held accountable for usage according to actual consumption rates
EETC Chairperson Sabah Mashaly said the contract covers the transformer’s construction, with equipment of 220/66 kV of the gas-insulated type, which will operate under the Cairo Electricity Distribution Company.
Egypt implements petrochemical projects worth $38bn in 2020-2024
No alternative to rising electricity prices, despite reduced consumption and collection during COVID-19