The Ministry of Petroleum officially notified the countries importing natural gas from Egypt that gas exports were suspended due to a "force majeure," in order to avoid any potential legal claim for compensation.
"This procedure is inevitable to (...)
Anonymous masked men blew up a portion of the natural gas pipeline running from Sinai to Israel and Jordan Thursday for the seventh time since the 25 January revolution. The saboteurs wrote a message in the sand near the pipeline that read: "We (...)
Clashes erupted in Damietta on Thursday between the police and residents protesting against the expansion of the MOPCO Agrium nitrogen fertilizer facility in their area.
The clashes, in which five policemen and five protesters are reported injured, (...)
Seven lawsuits over Egypt's halting of its natural gas supplies through the Sinai pipeline are now being considered by international arbitrators, according to a source at the Egyptian Ministry of Petroleum.
Since February, the Egyptian pipeline, (...)
Field Marshal Hussein Tantawi, head of the Supreme Council of the Armed Forces (SCAF), will inaugurate on Sunday three factories in Fayoum as part of celebrations for the 38th anniversary of Egypt's victory in the 6 October War.
The visit comes six (...)
Senior official sources have revealed that the Egyptian government is considering renegotiating with the International Monetary Fund (IMF) for a loan of US$3 billion in order to offset the budget deficit, which currently stands at LE134 billion.
The (...)
The revised contract for exporting natural gas to Jordan adds an extra US$250 million in annual profits for Egypt, according to a high official at the Ministry of Petroleum.
The official added that the petroleum ministers of Egypt and Jordan will (...)
An agreement to review prices for the Egyptian natural gas exports to Jordan will be signed this month, a senior offical at Egypt's Petroleum Ministry has told Al-Masry Al-Youm.
The event will be witnessed by oil and energy ministers and other (...)
The Egyptian Natural Gas Holding Company (EGAS) is considering several new natural gas projects in Iraq in collaboration with Iraqi and foreign firms, according to the company's director, Hassan al-Mahdy.
The projects would include excavations and (...)
Jordanian authorities have sent official letters to the Egyptian Petroleum Ministry to indicate their willingness to renegotiate the prices of natural gas imports from Egypt.
“This is the final step before the ministers of petroleum of both (...)
Eastern Mediterranean Gas (EMG), the company supplying Israel with natural gas from Egypt, owes the Egyptian Natural Gas Holding Company (EGAS) LE658 million, an official source at the Egyptian Ministry of Petroleum said.
The source told Al-Masry (...)
Egypt's Finance Ministry allocated US$300 million in mid-July for the Egyptian General Petroleum Corporation to purchase petroleum throughout the first quarter of the current fiscal year, which started in July.
The corporation was granted the amount (...)
The Ministry of Petroleum has sent the terms of the new agreement between Egypt and Jordan on gas exports to the cabinet and relevant authorities to review prices before the final contract with Jordan is signed.
Hassan al-Mahdy, head of the Holding (...)
A group called “No to the Gas Setback” has called on Egyptians in Spain to press the authorities to extradite runaway business man Hussein Salem to Egypt. The group fears that Salem may escape as he has been released on a huge bail.
Salem, a close (...)
Disagreements over the price for Egyptian natural gas exports to Jordan will not require international arbitration, according to Egyptian Minister of Petroleum Abdullah Ghorab.
A final draft of the contract will be composed soon in accordance with (...)
Petroleum Ministry sources said that the test pumping of natural gas to Jordan and Israel would be resumed this week, 40 days after the flow of gas was halted.
They said they would start pumping small quantities first to make sure the pipeline is (...)
There is no reason for the company responsible for natural gas exports to Israel to file a lawsuit against the Egyptian government, a senior Egyptian Petroleum Ministry official has said.
The East Mediterranean Gas Company (EMG) experienced (...)
The Petroleum Ministry on Wednesday said that it had increased this month's supplies of diesel fuel and liquid petroleum gas (LPG) to meet growing domestic market demands.
Petroleum Minister Abdullah Ghorab told Al-Masry Al-Youm that diesel fuel (...)
The Investment Disputes Settlement Committee plans to discuss a draft law to recognize sales of state-owned land since 1998. The land was sold to investors by direct order and not at a public auction, which violates the law.
The committee aims to (...)
The newly-formed Investment Disputes Settlement Committee (IDSC), chaired by Prime Minister Essam Sharaf, is studying ways of retrieving land acquired illegally by various companies during the regime of former President Hosni Mubarak.
The committee (...)
To offset the mounting shortage of butane gas, Egypt's General Petroleum Corporation is mulling whether to import the natural resource from Iran and Algeria, informed sources said.
The corporation is examining an offer from Sonatrach, an Algerian (...)
Egypt's Minister of Petroleum, Abdallah Ghorab, has highlighted a difficulty in the negotiations due to start within days to amend the prices for the country's natural gas exports to Israel.
The minister, in an exclusive statement to Al-Masry (...)
A high-level Israeli delegation began discussions on Thursday with senior Egyptian officials on fixing the price for Egyptian natural gas supplies to Israel, among other issues, according to Israeli media outlets.
The delegation to Egypt is headed (...)
Egyptians consumed LE6 billion in soft drinks in 2010, reaching a high since the industry began, a senior official in the soft drink industry said.
Adel Garas, managing director for PepsiCo Egypt, said the soft drink industry grew by 15 percent in (...)
Egypts petroleum minister has reiterated the government's intent to raise the price for gas exports to Jordan without increasing the supply.
At an economic summit in Doha on Monday, Petroleum Minister Abdullah Ghorab said the government believes the (...)