Egypt to Run Ports 24 Hours to Cut Costly Delays

CAIRO, April 18 (Reuters) - Egypt will keep ports running for 24 hours a day, up from 16 currently, to cut "long waiting times" for shipments, Transportation Minister Hesham Arafat said on Wednesday as the country tackles an issue that has cost it millions of dollars. Grain traders over the last year have added hefty premiums on shipments headed to Egypt, the world's largest … [Read more...]

Egypt Says Eni’s Giant Zohr Gas Field Starts First Production

By Salma El Wardany (Bloomberg) -- Egypt’s Eni SpA-operated Zohr natural gas field has started production, bringing the country closer to its goal of energy self-sufficiency. Gas from the Mediterranean’s largest offshore field is pumped to a facility in Port Said city, to be prepared for delivery to the national distribution network, with initial production of 350 … [Read more...]

Egypt Sees Pilot Production at Eni’s Zohr Gas Field Starting Soon

By Salma El Wardany (Bloomberg) -- Pilot production at Egypt’s Eni SpA-operated Zohr natural gas field will begin “in the coming few days,” the oil ministry said, as the country nears its goal of commercial output from the biggest gas discovery in the Mediterranean Sea by the end of this year. Gas is being pumped from the national distribution system to test pipelines in … [Read more...]

Exxon Eyes Egypt’s Offshore Oil

by Ron Bousso (Reuters) Exxon Mobil is considering a foray into Egypt offshore oil and gas, seeking to replicate rivals’ success in the country and boost its reserves, officials and industry sources said. Officials from the world’s largest listed oil producer recently held talks with Egypt’s petroleum ministry to discuss investments in oil and gas production, known as … [Read more...]

Giant Mediterranean Gas Find Prompts Egypt to End LNG Imports in 2018

By Salma El Wardany (Bloomberg) -- Egypt will stop importing liquefied natural gas in 2018 and may eventually export gas after it starts producing this year at the giant Eni SpA-operated Zohr field off the country’s Mediterranean coast, Oil Minister Tarek El-Molla said. Gas from Zohr will mostly supply the domestic market, and the nation’s two existing gas-liquefaction … [Read more...]