Egypt to bid for LNG cargoes up to 20 to meet Q1 2025 Demand
Three trading sources said on Monday that Egypt will issue an tender to procure up to 20 LNG cargoes to meet the demand in the first quarter 2025. The largest Arab country, which has the most people in it, is now a net gas importer. It has bought more than 50 cargoes this year. Plans to be a reliable gas supplier to Europe have been abandoned.
Sources confirm that Egypt has awarded the tender for 20 LNG winter cargoes to Egypt.
Four trading sources said on Friday that Egypt's recent bid for 20 cargoes (cartons) of liquefied gas to cover winter demand following a sharp decline in domestic production has been fully allocated. It is the first time Egypt issued an tender to cover the winter demand since 2018.
Sources say Egypt is seeking 20 LNG cargoes to meet winter demand, as the gas crisis worsens.
Three trading and industry sources confirmed on Friday that Egypt issued a tender for 20 cargoes (cartons) of liquefied gas to meet the demand for electricity during winter, despite a sharp decline in domestic production. It is the first time Egypt issued an tender to cover the winter demand since 2018.
EGPC Leads Oil, Gas Discoveries in Q3 2019
Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these…
Plans for Israeli Gas Exports to Egypt on Track
Plans to start exporting gas from Israel to Egypt are on track but further steps are still needed before exports can commence, Egyptian petroleum minister Tarek El Molla said on Monday."Everything is agreed on ... countries (involved) have already given their blessings. There is no issue in that…
Shell, Eni, Exxon Win Concessions in Egypt
Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt's international tender for oil and gas exploration on Tuesday, with 12 concessions awarded in total.It marks Exxon Mobil's entry into gas exploration in Egypt, while Shell was awarded the most concessions in the tender - three for oil and two for gas.Neptune Energy, Merlon,
Petrobel Contracts Shelf Rig
UAE-headquartered offshore drilling contractor Shelf Drilling has received a contract award for one of its jack-up rigs with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez, offshore Egypt.According to a press release from the shallow water offshore drilling contractor…
TechnipFMC Wins EPC Contract with Egypt's MIDOR
Oil and gas industry company TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt.Middle East Oil Refinery (Midor), considered to be Africa's most advanced refinery…
Maersk Sells EDC Drilling Stake
Maersk Drilling, a part of A.P. Moller-Maersk, said late Monday it had agreed to sell its 50 percent stake in Egyptian Drilling Company (EDC) to Egyptian General Petroleum Corporation (EGPC) for $100 million in an all-cash transaction. Following the transaction EGPC will become…
Swiss Court Tells Egypt Energy Companies to Pay Israel
A Swiss court has rejected an appeal by Egyptian energy companies after a French court last year ordered them to pay $2 billion in compensation to state-owned Israel Electric Corp (IEC), the Israeli utility said. An IEC statement on Friday said that Egyptian Natural Gas (EGAS)…
Egypt Nearing Deal with Iraq in Search for Crude Oil Imports
Egypt is nearing a deal to import crude oil from Iraq and is looking to other countries to help secure supply, Egyptian General Petroleum Corporation's chief Tarek al-Hadidi said. Cairo's search for additional crude comes after Saudi Arabia's state oil firm Saudi Aramco halted shipments of oil products to Egypt last year.
Egyptian Oil Company Takes $200 Mln Loan for Electricity Generation
Egypt's state oil company signed a $200 million loan agreement on Tuesday with the African Export-Import Bank to help expand electricity generation and distribution, an Afreximbank statement said. The government announced in August that it was raising household electricity prices…
Shell Makes Natural Gas Discoveries in Egypt's Western Desert
Royal Dutch Shell announced on Wednesday new natural gas discoveries in a concession area of north Alam El-Shawish in Egypt's western desert. The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Eden Murphy, chairman and CEO of Shell said in a statement.
BP Egypt makes New Gas Discovery
BP Egypt announced today another important gas discovery in the Baltim South Development Lease in the East Nile Delta. The Baltim SW-1 exploration well, drilled in water depth of 25 metres by operator IEOC (Eni), reached a total depth of 3750 metres depth and penetrated approximately…
Aker Solutions Wins Order at Zohr Offshore Gas Field
Aker Solutions won a contract to deliver its longest-ever umbilicals system at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea. The agreement with Petrobel in Egypt is worth more than NOK 1 billion and will be booked in the second quarter. It stipulates…
Radwitz Appointed GM of DEA Egypt
As of February 1st, Dr Thomas Radwitz has been appointed General Manager of the Egyptian subsidiary of DEA Deutsche Erdoel AG. Egypt is one of the core countries for the German upstream company. Dr Thomas Radwitz, who is well experienced in Egypt‘s and the North African upstream industry…
Israelis Chase Egypt Gas Contracts
Egypt important to Israeli gas export plans; arbitration linked to Egyptian gas exports. Israeli firms Delek Group, Ratio Oil, and Isramco Negev said on Monday they would push ahead with talks to export natural gas to Egypt despite an arbitration ruling in a separate deal that has caused anger in Cairo.
Rosneft to Supply Egypt with 6 Fuel Oil Shipments by End 2015
The Egyptian General Petroleum Corporation has agreed to import six shipments of fuel oil from Rosneft, Russia's largest oil producer, by the end of 2015, petroleum minister Tarek El Molla told Reuters. Egypt's oil ministry said in July it had signed initial deals with Rosneft to supply benzine and bitumen…
Egypt Debt to Foreign Oil Cos at $3.5 bln
Egypt's debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday. The country's payments to oil and gas companies have been delayed…
DEA to Go-ahead with West Nile Delta project
The final agreements to develop the West Nile Delta which will make available 5 trillion cubic feet of gas resources has been signed by DEA Deutsche Erdoel AG. DEA contributes significantly to Egypt’s security of energy supply and this deal is considered being of prime importance…
