First Independent Mena Newspaper
British Petroleum (BP), an oil and gas global giant, announced Monday August 28 plans to inject $3.5 billion in Egypt for the next three years. BP’s chief executive Bernard Looney made the announcement after meeting with President Abdelfattah al-Sisi. The investments will go towards research, exploration and development, the office of the Egyptian leader announced. […]
Egypt has given five new gold exploration contracts worth $13 million to three mining companies in the back of 11 others. The contracts, Arab Finance reports citing a cabinet statement, include a $9 million (EGP 141.49 million) agreement with Canada’s Lotus Gold to explore 11 blocks; a $3 million (EGP 47.16 million) deal with Mining […]
Egypt plans to upgrade six oil refineries to increase local production of refined products, Petroleum Minister, Tarek El Molla, said during a conference in Cairo Sunday. The refineries refurbishment to be conducted over four years will cost about $9 billion, the official said, adding that Egypt is trying to secure crude oil supplies for Egyptian […]