Egypt Sets Deadlines for O&G Exploration Bids
Egypt has set October 1 and October 8 deadlines for two major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry said on Tuesday.Bids for 11 blocs offered by the Egyptian General Petroleum Corp (EPGC) must be submitted by October 1, the ministry said in an advertisement published in the state-run al-Ahram newspaper.Companies interested in 16 conc
Iran's Oil Return to Boost SUMED Volumes
Egypt anticipates a ramp-up in oil volumes through the SUMED pipeline once Iran re-enters the world market - a move that is welcomed by Cairo, the country's petroleum minister Tarek El Molla told Reuters on Friday. SUMED, which owns and operates Egypt's Mediterranean port of Sidi Kerir, is half owned by state-run oil company Egyptian General Petroleum Corp.
Egypt Earmarks $8 bln for Fuel Subsidies
Egypt's draft 2015/2016 budget earmarks 61 billion Egyptian pounds ($8 billion) for fuel product subsidies, Tarek El Molla, chairman of state-run Egyptian General Petroleum Corp (EGPC), said in a statement on Saturday. The cabinet on Thursday approved a draft budget for the next fiscal year that starts on July 1, but it hadn't announced the amount allocated for fuel products subsidies.
Kuwait to Ship Crude to Egypt in October
Kuwait said on Wednesday it would ship around two million barrels of crude oil in early October to Egypt, giving it priority as a buyer ahead of sales from storage into the Mediterranean market. The deal for two million barrels a month of Kuwaiti crude was signed this week with the Arab Petroleum Pipeline Co., known as SUMED.
Egypt Tries Crude Swaps to Import Crucial Foreign Oil
Egypt is offering to swap some of its domestic oil production for Iraqi crude better-suited to its ageing refining system, as Cairo's budget woes restrict its ability to buy on international markets. Egypt's state-owned Egyptian General Petroleum Corp issued a tender to swap a 435,000-450,000 barrel cargo of its Qarun crude oil grade for a similar-sized cargo of Iraqi Basra Light for August delivery…
Egypt Opens Tender To Import Fuel In July-Sept 2014
Egypt has launched a tender to import hundreds of thousands of tonnes of petroleum products in the third quarter of 2014, an energy official said on Saturday, as the country tries to stave off a summer energy crisis. Egypt's government wants to avoid major power blackouts during the months of increased consumption in the summer…
