El Molla: Egypt’s Oil Sector Is Implementing New Strategy
Thursday, 5th May 2016
Egypt's Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the oil sector in the country is currently implementing a new strategy, which will offer new bid rounds, conclude agreements with IOCs, and step up foreign oil investments as well as the development of the existing and recently discovered fields.
Egypt Postpones Bid Round Due to Oil Prices
Monday, 11th January 2016
The Egyptian General Petroleum Corporation (EGPC) decided to postpone planned bid round until prices of Brent oil stabilize in international markets. The bid round was intended to be launched early 2016, offering 10 concessions for exploration in Western Desert and Gulf of Suez.
Elevated Dollar Value May Impede Egypt’s Ability to Pay IOCs
Tuesday, 13th October 2015
A state official told Egypt Oil & Gas that higher dollar exchange rates in the local market are threatening the ability of the Egyptian government to repay debt installments to international oil companies (IOCs), especially as some IOCs reject payment of dues in Egyptian Pound, and insist on foreign currency.
Egypt’s Petroleum Minister: Foreign Partner’s Monthly Oil, Gas Shares Declined by 26%
Sunday, 20th September 2015
New Minister of Petroleum and Mineral Resources Tarek El Molla said that the value of foreign partners’ share of oil and gas declined by 26% from $880m in FY 2014/2015 to reach $650m per month during current FY 2015/2016.