Browsing: Petroleum

North Petroleum International Company (NPIC), the Egyptian subsidiary of China’s Zhen Hua Oil, has pledged to invest $78 million to increase its production in Egypt’s Western Desert, Al Mal News reported.

Handed a gas trading licence by regulators in March, state-owned oil and gas company PetroSA has moved quickly to secure a deal for an initial 2 petajoules of gas a year (PJ/a), with scope to rise to 200 petajoules eventually

The Egyptian government intends to review petroleum subsidies for the upcoming fiscal year (FY) 2024/2025 budget, after hiking prices of all categories of gasoline and diesel, Minister of Finance Mohamed Maat told Asharq Business.