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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

Explosion shuts down Turkey-Iran natural gas pipeline amid increasing violence

The gas flow between Iran and Turkey has been shut down after an explosion on a natural gas pipeline in the Turkish province of Agri. The country's energy minister has suggested that Kurdish rebels were to blame. The fire, which began Monday in Turkey's eastern Agri province was quickly brought under control, Turkey's energy minister Taner Yildiz said on Tuesday….

Deutsche Welle

Finalising procedures of $3bn loan in June: EGPC Chairman

Work is being finalised on the procedures of obtaining a $3bn loan from the Islamic Development Bank (IDB), allocated to the Egyptian General Petroleum Corporation (EGPC). The procedures for the loan are set to be completed by June, said Chairman of EGPC, Tarek El-Mulla, adding that the IDB loan will be issued due to a …

Mohamed Adel

Government should repay all fuel dues to foreign partners: Official

An oil company official said the government should repay full dues to foreign partners and approve gas price amendments that have been agreed upon to stimulate investments in the sector. Egypt will face stability in oil and gas production rates during fiscal year 2015/2016 as a result of a number of companies reducing their investments, …

Mohamed Adel