Mohamed Adel

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Latest by Mohamed Adel


EGAS halts pumping of gas to Idku plant

The Egyptian Natural Gas Holding company (EGAS) has stopped pumping gas to the Idku liquefaction plant operated by British Gas and GDF Suez, as a result of the increased use of gas by power stations, according to a senior official at EGAS. He added that since last year, the quantity of gas pumped from EGAS …

Mohamed Adel

Government bodies owe Petroleum Authority EGP 163bn

Several government agencies have stopped paying for fuel products they are receiving from the EGPC in light of their need for this money in order to pay dues they owe to partners and banks. Dues owed to the Petroleum Authority by government agencies are approximately EGP 163bn, according to an official at the Ministry of …

Mohamed Adel

Government fails to abide by payment schedule with foreign partners

The government is the reason behind the continued inability of the petroleum sector to repay dues to foreign partners in return for oil and gas received monthly, said an official at the Ministry of Petroleum The EGPC has not complied with the agreement the ministry entered into with foreign partners for the payment schedule for …

Mohamed Adel

Foreign partners demand government repays dues before increasing investments

Foreign companies operating in the oil sector have linked increasing their investments to their payment from the Egyptian government, in light of the government’s failure to keep to the repayment schedule that was previously agreed upon. According to an official at one of these foreign companies, the Egyptian government has no choice but to pay …

Mohamed Adel

EGAS says it is owed EGP 16bn by industrial sector

Debts owed to Egyptian gas holding company EGAS for quantities of gas obtained by the industrial sector reached EGP 16bn by the end of July, according to a senior company official. Factories were notified in February that gas supplies will be cut in the event of non-payment of debts, but no significant measures have been …

Mohamed Adel

Petroleum ministry proposes petrochemical projects worth $540m to UAE

Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum. The projects included establishing a factory to produce bio-ethanol from molasses, the output of which would reach 100,000 tonnes of molasses annually, with investment in the project totalling $250m. The …

Mohamed Adel

HOG Energi regassification boat to arrive in Ain Sukhna Port in December

The arrival of a regassification boat owned by Norway’s HOG Energi has been delayed to December so that shipments of liquefied natural gas (LNG) may be received in its place. LNG will be imported over the coming years in order to provide for the needs of power stations according to Chief Executive of the Egyptian …

Mohamed Adel

Dues owed to foreign oil and gas companies reach $6.3bn in July

Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April, according to Tareq Al-Mula, president of the Egypt General Petroleum Corporation (EGPC). The government will pay at least $1.5bn of these receivables to these foreign companies by the end of the year 2014, according …

Mohamed Adel