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NREA negotiates with 5 banks to obtain EGP 1bn revolving loan

The New and Renewable Energy Authority (NREA) is currently in talks with five local banks to obtain a revolving loan worth EGP 1bn to finance solar power projects with capacities of less than 500 kW. Sources from the NREA said that it is negotiating with Banque Misr, the National Bank of Egypt (NBE), and the …

Mohamed Farag

Egypt starts experimental production from Zohr gas field

The Ministry of Petroleum and Mineral Resources began the pilot operation of Eni’s Zohr field, according to a press release by the Minister of Petroleum and Mineral Resources Tarek El-Molla. El-Molla said that the wells were opened and the experimental production of the field began on Friday to test the lines and the natural gas …

Ahmed Ismail

The fuel price hikes have recently led to traffic jams at nearby gas stations and scuffles with fuel consumers. (AFP\Photo)

SMEDA launches an EGP 100m-worth initiative to convert cars to natural gas

Small and Medium Enterprises Development Authority (SMEDA) signed two contracts worth EGP 15m on Wednesday with natural gas company Cargas to finance the project of converting cars to run on dual fuel, natural gas and gasoline, in addition to opening outlets for the engine oil sales. The first contract aims at converting 2000 cars to natural gas …

Hossam Mounir

Shell dominates 19% of Egypt lubricants market

Saher Hashem, managing director of Shell Lubricants Egypt, said that the company’s share of lubricants market increased to 18.5-19% this year, up from 6.5% in 2008, despite selling the petrol stations it owned. Shell had sold all its stations across Egypt in 2013 to French company Total. According to Hashem, during a round table discussion …

Ahmed Ismail

Powering up Egypt

Siemen’s newest power project in Egypt will provide up to 14.4GW of energy, powering up the homes and businesses of about 15 million Egyptians. Emad Ghaly, CEO of Siemens Egypt, speaks of how the project would impact the country’s economy in the long term. How does the first phase of Siemens mega power stations in …

Forbes Middle East