Gulf Oil and Gas accountACCOUNT

EBRD Provides a $ 50M Loan to Upgrade Suze Oil Refinery

Source: www.gulfoilandgas.com 11/23/2019, Location: Africa

The EBRD is supporting the modernisation of Egypt’s oil industry with a US$ 50 million loan to upgrade the oil refinery owned by Suez Oil Processing Company (SOPC).

The funds will be invested in improvements of the refinery’s operational efficiency and will enable SOPC to introduce cleaner fuel. The measures will reduce CO2 emissions by 289,000 tonnes, contributing to a better air quality in Egypt.

The loan follows a US$ 200 million loanby the EBRD signed in May 2018. In recent years, Egypt has struggled to balance the country’s production, consumption and export of both oil and gas. The Bank’s support to SOPC will help realign the supply and demand of higher value added oil products and reduce the need for imports.

The EBRD is one of the first international financial institutions involved in the reform of the Egyptian oil and gas sector and has been supporting the country’s attempts to reduce greenhouse gas emissions and air pollution. The bank is also supporting Egypt with the implementation of international best practices and standards, helping to increase the competitiveness of the sector and contributing to the country’s energy security.

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012 the Bank has invested over €5.5 billion in 102 projects in the country. In 2018 Egypt was the EBRD’s largest economy in which it invests, in terms of new commitments.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Oil Treating & Refining News in Egypt >>

Egypt >>  1/20/2020 - Petroleum Minister Tarek el Mulla signed nine agreements on oil and gas exploration in the Mediterranean and Western Desert with total investments of ...
Senegal >>  1/10/2020 - Subsea 7 S.A. announced the award of a very large(1) contract by Woodside to Subsea Integration Alliance for the Sangomar Field Development Phase-1 pr...

Algeria >>  1/9/2020 - The national oil company Sonatrach signed a contract in Algiers with a consortium made up of Tecnicas Reunidas (Spain) and Samsung Engineering (South ...
Egypt >>  1/7/2020 - SDX Energy Plc (SDX) is pleased to announce that upon completion of an independent technical and economic audit of the reserves at its operated South ...

Egypt >>  12/30/2019 - ExxonMobil said it has secured more than 1.7 million acres for exploration offshore Egypt. ...
Egypt >>  12/29/2019 - Minister of Oil and Mineral Wealth Tarek el Mulla announced that three companies have won the first international bid launched by South Valley Egyptia...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.