Latest in Highlight

Advertising Area

Latest in

Al-Sisi meets with BG’s CEO

Egypt’s President Abdel Fattah Al-Sisi met with Helge Lund, the Chief Executive Officer of British Gas (BG), to discuss the company’s current activities in Egypt and its plans to increase its investments. The meeting was also attended by Petroleum Minister Sherif Ismail, according to an official statement by the presidency. The BG executive congratulated the …

Sara Aggour

BG to sign petroleum deal worth $4bn

British Gas (BG) is set to sign a deal with the Egyptian government on Sunday during the Economic Summit, with investments estimated at $4bn. The company received $350m from the Egyptian government, after the latter’s decision to pay its delayed debts to foreign energy companies.  Egypt delayed paying the dues for oil and gas companies …

Daily News Egypt

UK’s BG Group’s CEO quits, firm warns on production

Reuters – BG Group’s chief executive resigned on Monday as the British oil and gas major said production would be at the lower end of its target range this year due to problems in Egypt. The board said it accepted the resignation for personal reasons of Chris Finlayson after just 16 months in the job. …

Daily News Egypt

BG Group targets job cuts to rein in costs

Reuters – Oil and gas producer BG Group has begun offering voluntary redundancy to staff at its British headquarters, the company said, as it seeks to reduce headcount and trim costs. BG Group has been hit by lower than expected production rates, having downgraded output forecasts several times over the past two years, and is …

Daily News Egypt

End of Section