Tag: EGPC
Business Egypt Emerging Markets Energy Europe Headlines International

Egypt, Eni ink oil exploration, exploitation deal worth $1bn

North Africa PostComments Off on Egypt, Eni ink oil exploration, exploitation deal worth $1bn

The Egyptian General Petroleum Corporation (EGPC) has signed an agreement with the Italian giant energy group Eni for oil exploration and exploitation in the Gulf of Suez and Nile Delta regions worth $1 billion, Arab Finance reports, citing a statement by the Ministry of Petroleum and Mineral Resources. The deal signed by Minister of Petroleum […]
Egypt Features Headlines

Egypt : how much is enough to restore investor confidence

North Africa PostComments Off on Egypt : how much is enough to restore investor confidence

Egyptian officials have renewed their efforts to draw back investors, especially in the energy sector, at an investment conference by paying the debts owed to foreign oil companies. Prime Minister Hazem el-Beblawi said that $1,5billion of the $6billion debt has been approved. The Egyptian economy is suffering from the political crisis which has driven away […]
Business Energy Features

Egypt: EGPC to convert petroleum debts into bonds

North Africa PostComments Off on Egypt: EGPC to convert petroleum debts into bonds

Authorities overseeing the Egyptian General Petroleum Corporation (EGPC) are considering the conversion of their debts of more than $5 billion into bonds. The idea came as proposals and discussions with the Egyptian Central Bank to scrutinize it have resulted in a positive outcome. These debts are owed to foreign oil companies operating in the country. […]