Oil Egypt accountACCOUNT King Tut

Egypt Signs Deal for Sale of Stake in Oil Company ENPPI

Source: Reuters 10/5/2018, Location: Egypt

Share |
Egypt has signed an agreement with three banks to manage the sale of a 24 percent stake in state oil company Engineering for Petroleum and Process Industries (ENPPI) on the Egyptian stock exchange, the petroleum ministry said.

The government signed the deal with investment bank CI Capital, Jefferies bank, and Emirates NDB, the ministry said in a statement.

It did not give the timing of the offer, and the ministry could not immediately be reached for comment.

The ENPPI share offer has been pushed back several times, with officials initially saying it would take place before the end of 2017.

The sale is part of a series of public and private share offerings expected over the coming months, including the first sales in state-owned companies for more than a decade.

Five of the sales in state-owned companies are expected by the end of 2018 from a total of 23 offerings over the next few years. The government hopes the sales will help reduce its budget deficit and promote competition.

The state owns vast swathes of Egyptís economy, including at least three of the countryís largest banks along with much of its oil industry and large chunks of real estate.

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

Egypt >>  10/9/2018 - GE Power announced it won the contract to deliver the turbine island equipment for El Dabaa nuclear power plant project in Egypt through AAEM its join...
Egypt >>  10/8/2018 - WorleyParsons has been awarded a four years project management consultancy (PMC) contract for the new Assiut Hydrocracking Complex (AHC Project) in Eg...

Egypt >>  10/5/2018 - Egypt has signed an agreement with three banks to manage the sale of a 24 percent stake in state oil company Engineering for Petroleum and Process Ind...
Egypt >>  9/27/2018 - Noble Energy, Inc. has executed multiple agreements to support delivery of natural gas from the Leviathan and Tamar fields, offshore Israel, into Egyp...

Egypt >>  9/24/2018 - Egyptís state oil company Engineering for Petroleum and Process Industries (ENPPI) signed a deal with the UKís Wood Group for a technical and engineer...
Egypt >>  9/25/2014 - Egypt's state-run Egyptian General Petroleum Corporation (EGPC) declared that Egypt received a share of the foreign partnerís oil and gas revenues of ...

More News

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us