Hoegh LNG wants to install Cyprus FSRU - FINANCIAL MIRROR

24th April 2020
Charlie Charalambous

Norway’s Hoegh LNG on Friday confirmed that it has officially applied to Nicosia for a liquefied natural gas infrastructure ownership, operations, and development license in Cyprus.

In a statement, Hoegh LNG said it sent letters to President Nicos Anastasiades, and the Ministers of Energy and Finance, in which the “advantages and benefits of its proposal for the installation of an FSRU in Cyprus, and more specifically at Vasiliko, were presented”.

“The purpose of the letters was for the President and the two Ministers to be informed about Hoegh LNG’s proposal, the application for licensing which was officially submitted to Cyprus Energy Regulatory Authority (CERA), being the competent authority,” said the statement.

Egypt’s Oil Sector Thrives Amid Lockdown, Oil Crisis - DAILY NEWS EGYPT

Tuesday, 21st April 2020

The Former Minister of Petroleum and Mineral Resources, Osama Kamal, said that Egypt has benefited from the oil price decline during the last period by storing sufficient quantities of oil, according to his call on Amr Adib’s El Hekaya Program.

He noted that Egypt will neither be directly affected positively nor negatively by the current collapse of oil prices, but this might contribute in decreasing the burden of financial support from the public budget. Kamal discussed that its only negative effect would be when American oil companies cut their exploration and discovery investments in the different countries including Egypt.

US oil future prices declined to below zero on Monday 20 April. The price of West Texas Intermediate Crude reached to $-37.63 due to the industries’ halt and lockdown driven by the coronavirus outbreak.

Saipem Wins Egypt Plant Contract - RIGZONE

Monday, April 20, 2020

Matthew V. Veazey

Egyptian Ethylene & Derivatives Co. (Ethydco) has selected a consortium of Saipem and Egypt-based Petrojet to build that country’s first polybutadiene plant, Saipem reported Friday.

According to a written statement Saipem emailed to Rigzone, the estimated US$150 million contract for the 36,000-metric ton per year (MT/Y) synthetic rubber plant calls on Saipem and Petrojet to provide:

Midor Refines 9.3 MMBBL of Crude in Q1 2020 - DAILY NEWS EGYPT

Sunday, 19th April 2020

Middle East Oil Refinery (Midor) has refined approximately 9.3 million barrels (mmbbl) of domestic and imported crude oil in Q1 2020, according to a press release.

Gamal ElKareish, Chairman and CEO of Midor, stated that the company has produced and delivered approximately 80% of the total products to the local market. Such products include about 43,000 tons of butane, 325,000 tons of high-octane gasoline, 646,000 tons of diesel, in addition to 72,000 tons of coal and 14,000 tons of sulfur. On top of that, the company exported 265,000 tons of jet fuel to global markets.

Additionally, ElKareish added that production remains uninterrupted as a result of implementing preventive maintenance for equipment so as to maintain strategic supplies of petroleum products to the local market.