No More 'Free' Saudi Money for Egypt
Saudi Arabia's financial support for strategic ally Egypt will no longer involve "free money" and will increasingly take the form of loans that provide returns to help it grapple with low oil prices…
Saudis Commit $20bln to Finance Egypt's Energy Needs
Saudi Arabia is expected to sign a $20 billion deal to finance Egypt's petroleum needs for the next five years and a $1.5 billion deal to develop its Sinai region, two Egyptian government sources told Reuters on Tuesday.
Egypt's Power Choices Appease Public, Squeeze Industry
Far fewer Egyptians are complaining about the kind of power cuts that fuelled unrest in the past but government energy policies apparently focused on appeasing the public are dealing a blow to industries vital for economic growth.
Egypt Court Acquits Ex-oil Minister of Corruption Charges
An Egyptian court acquitted former oil minister Sameh Fahmy of charges of selling cheap gas to Israel and squandering public funds and threw out his 15-year jail sentence, a judicial source said on Saturday.
Egypt: Oil Price Drop Will Not Hit Gulf Investments
Egypt does not expect Gulf Arab countries to reduce their investment in the country despite the fall in oil prices, as Cairo is of particular strategic importance for the region, Investment Minister Ashraf Salman said on Monday.
Low Oil "Double-Edged Sword" for Egypt
Egypt expects to save $4.2 bln due to cheap oil in 2014/15. The fall in global oil prices will cut Egypt's fuel subsidy bill but could hit the finances of oil-exporting Gulf allies who have showered it with billions of dollars in aid.
Egypt, Greece, Cyprus Pledge More Energy Cooperation
Egypt, facing its worst power crisis in decades, on Saturday pledged greater energy cooperation with Greece and Cyprus, a diplomatic move that opened up the possibility of progress in talks to import natural gas from Cyprus.
Egypt Signs $350 mln in Oil, Power Financing Deals with Saudi
Egypt signed $350 million worth of financing agreements with Saudi Arabia on Saturday aimed at upgrading its power grid and securing imports of petroleum products as it seeks to end its worst energy crisis in decades.
BG in Talks to Import Gas to Egypt from Cyprus
BG Egypt, a subsidiary of global energy company BG held talks on Tuesday to import natural gas from Cyprus, the company said on Wednesday. The talks in Nicosia between BG Egypt and Cyprus Hydrocarbons…
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.
EGPC to buy 65 pct of Product Imports from UAE
Egypt's state oil company, EGPC, will buy 65 percent of its oil product imports from the United Arab Emirates' ADNOC for one year after the government approved the deal on Wednesday. The agreement covers gasoline…
No Egypt LNG Fix, Terminal Search Widens
Egypt reopens talks with Excelerate Energy for terminal. Talks with Hoegh LNG face hurdles; terminal will not be operational this year, but Algeria, Gazprom and EDF could supply LNG to Egypt. Egypt…
Egypt to Raise Energy Prices "Within Days"
Egypt's Planning Minister Ashraf al-Arabi said on Wednesday the government was about to raise prices on most petroleum products, a move he said would push inflation into double digits. "We will raise energy prices within days…
Despite Free GUlf Fuel, Egypt Takes Oil Shipments
Egypt is receiving fuel shipments to cover its needs for this month, an energy official said on Friday, despite $6 billion of free fuel given by its Gulf allies after the army took power last year.
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 Needs Anti-Dumping Duties if Energy Subsidies Cut
Egypt needs to impose anti-dumping duties to protect power-hungry industries including steel if the government reduces energy subsidies, one of its top steelmakers said on Thursday. Energy subsidies…
Egypt Reaches LNG Import Deal with Hoegh
Government, firm see terminal operational by third quarter. Expert calls timeline ambitious; gas badly need for power generation, industry. Egypt has secured a means of importing liquefied natural…
Egypt's Presidential Frontrunner Sisi Cautious On Energy Subsidies
Former Egyptian army chief Abdel Fattah al-Sisi, who is expected to win a presidential election this month, said in a television interview broadcast on Tuesday that costly energy subsidies could not be lifted quickly.
Egypt to Pay $1b Owed to Foreign Oil Companies
Egypt will pay about $1 billion of the money it owes to foreign oil companies within the next two months, the state's MENA news agency said, quoting Oil Minister Sherif Ismail. Egypt says it owes some $6.3 billion to those companies.
Israeli gas promises better regional ties
Israel in talks with Egypt, Turkey on major gas export deals; Turkey pipeline may start construction H2 2015. Israel's drive to export its new-found natural gas could help to rebuild strained ties with old regional allies Egypt and Turkey…
