Kuwait, Bahrain lift ban on Egyptian agricultural exports

21/10/2017 (Egypt Indipendent – Egypt): Minister of Agriculture, Abdel Moneim al-Banna, announced the temporary lifting of the ban on Egyptian agricultural exports of peppers, lettuce, guava and onions to Kuwait and Bahrain. He added that he will coordinate with the Kuwaiti trade minister next week to completely lift the ban on Egyptian agricultural exports to Kuwait. An Egyptian Agriculture Ministry delegation held a number of meetings in Kuwait and Bahrain, during which the Egyptian new control system on pesticide residue in agricultural crops has been displayed, said the minister on Thursday…




Iran Says Oil, Gas Projects Unaffected by Trump Threat

Iran Says Oil, Gas Projects Unaffected by Trump Threat14/10/2017 (Financial Tribune – Iran):Atop official at Iran’s state oil company on Saturday sought to ensure that the country’s key petroleum industry will not be rattled by US President Donald Trump’s decision to decertify Tehran’s compliance with the 2015 nuclear deal, a move that experts say can have major ramifications for its economy and energy sector. Gholamreza Manouchehri, deputy head of the National Iranian Oil Co., told IRNA on Saturday that it is business as usual for Iran and foreign companies in oil and gas development projects. “US government’s pressure and statements have not affected the cooperation of international companies with Iran and everything is underway as usual,” the official said. In a speech on Friday, Trump ramped up his hostile rhetoric against Iran and threatened to unilaterally pull out of the nuclear accord if US Congress fails to impose new sanctions against Tehran within 60 days…



Greek Firm in $400m Libya Deal

Mytilineos07/10/2017 (Lybia Business News – Lybia): An agreement to carry out the engineering, procurement and construction (EPC) contract for a new power plant in Tobruk, Libya, has been signed between the Greek companyh Mytilineos and the General Electricity Company of Libya (GECOL). The agreement was signing at a special ceremony in Tripoli, in the presence of the CEO of GECOL, Mr. Abdul Majid Hamza and GECOL representatives from Tripoli, Benghazi and Tobruk, a GE delegation and the Chairman and CEO of Mytilineos, Mr. E. Mytilineos. The Greek Government was represented by the Secretary General for International Economic Relations of the Ministry of Foreign Affairs, Mr. G. Tsipras…


Turkey set to implement national energy policy with diverse resources

Turkey set to implement national energy policy with diverse resources30/09/2017 (Sabah – Turkey): The national energy and mining policy, announced in early April by Energy and Natural Resources Minister Berat Albayrak, focuses on domestic resources, decrease energy dependency on imported resources by diversifying energy supply through increasing investments in areas such as liquefied natural gas (LNG), floating storage and regasification units (FSRU) and by expanding the storage capacity of oil and natural gas storage. Turkey occupies a unique geographic position, extending into Asia and Europe, which provides it with opportunities in many areas, especially in energy…



International Finance Corporation to invest $150 million in agriculture in Egypt: Sahar Nasr

Nasr 23/09/2017 (Ahram Online – Egypt): The International Finance Corporation (IFC) has agreed to pump $150 million in direct investments in Egypt’s agriculture sector in partnership with the country’s private sector, Minister of Investment and International Cooperation Sahar Nasr said in a statement on Saturday. The investments aim at developing the country’s nutrition sector, introducing the newest technologies in manufacturing, as well as providing new job opportunities for the youth. The IFC is a member of the World Bank Group, which focuses on developing the private sector in developing countries. The deal comes following a meeting between Egypt’s President Abdel-Fattah El-Sisi with World Bank chief Jim Yong Kim in New York on Thursday on the sidelines of the UN General Assembly meetings, where the two discussed cooperation between Egypt and the bank…



US companies keen to increase investments in Egypt

Sahar Nasr16/09/2017 (Ahram Online – Egypt): US companies are keen to increase investments in Egypt, Investment and International Cooperation Minister Sahar Nasr said. According to a ministry statement released on Thursday, Nasr met several representatives from US companies, including conglomerate General Electric, Johnson, food provider Cargill, pharmaceutical company Merck & Co, oil and gas giant ExxonMobil, and food manufacturing company Kellogg’s. Nasr also met with representatives from JPMorgan Chase and MasterCard. According to the statement, the representatives “showed a wish to increase investments to Egypt in the coming period.” “Cargill’s regional director in Egypt, Melvin Minke, said that his company’s investments in Egypt have reached $200 million, with the company planning to add an extra $150 million in investments in the future,” the statement added.  Others have praised the investment atmosphere in the country…



Iran’s gas export up 64% in 5 months yr/yr

09/09/2017 (Tehran Times – Iran): TEHRAN- Iran exported over five billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), a 64 percent rise from 3.2 bcm in the same period of time last year, according to a gas official. Mehdi Jamshidi Dana, the dispatching director of National Iranian Gas Company (NIGC), put the country’s daily gas export at 34.8 million cubic meters (mcm) during the five-month period this year and at 21.3 mcm in the same time span of the previous year, Shana news agency reported. NIGC Managing Director Hamid Araqi last month said the country’s daily gas export has hit 42 mcm and noted that Iran reached this amount of gas export after starting export to Iraq (in late June). Referring to the NIGC’s plans for the next Iranian calendar year (to begin on March 21, 2018), Araqi said exports to the neighboring countries will continue based on their contracts, while the amount of gas export and also target countries are planned to increase…



Digging of tunnels begins for Makkah metro project

28/08/2017 (Saudi Gazette – KSA): The Makkah municipality has given the go-ahead for the launching of Makkah metro when it began digging tunnels for the ambitious project in the holy city. About 120 cubic meters of concrete was poured on part of the train track parallelly along King Abdul Aziz street with a length of 3.5 km. “The pouring of the concrete signals the first step in the launching of the Makkah “B” metro which will cover a distance of 11 km in its initial stage,” Mayor Osama Albar said. The mayor said the first stage will consist of seven stations including the Jamarat terminal which is last station of the Haramain train. He said the metro will pass through Al-Malawi District and continue to the southeast area of the Grand Mosque where Al-Marwa three-way station for the trains, buses and taxis will be built…



Turkish firms bag $220B projects overseas in 10 years

Turkish firms bag $220B projects overseas in 10 years11/07/2017 (Anadolu Agency – Turkey): The business volume of Turkish contractors worldwide reached approximately $220 billion during the last 10 years, according to data from the Economy Ministry on Friday. The contractors ranked second in the world after China, taking up 4,152 projects overseas between 2008 and 2017. The first contracted project was carried out in Libya in 1972; since then until the last July Turkish firms have carried out 9,018 projects in 117 countries, totaling $344.7 billion in business volume.The average project cost was $37.1 million in 2008, which doubled to $79.3 million in July this year. Russia ranked first with $67.6 billion (19.6 percent) among projects carried out in the last 45 years. This was followed by Turkmenistan with $46.8 billion (13.6-pct) and Libya with $28.9 billion (8.4-pct)…



Iran goes big on clean energy

29/07/2017 (Teheran Times – Iran): KERMAN- Through inaugurating a solar farm with a generation capacity of 20 megawatts and also breaking the ground for another solar farm with 100 MW capacity Iran took a big step toward harnessing renewable energies. Energy Minister Hamid Chitchian inaugurated 20-MW Mokran Solar Farm in Mahan County in the southeastern Kerman Province on Thursday. Covering 44 hectares of land, the farm includes 76,912 solar panels, each having a generation capacity of 260 watts of electricity. Putting this farm into operation, the country’s generation capacity of photovoltaic systems reached 53 MW. The farm includes two parts, each generating 10 MW of electricity. It was built within six months. The project to build this farm was jointly implemented by Iran’s Mokran Solar Energy Company, as the general contractor, Germany’s ADORE GmbH Company, as the program manager, and Switzerland’s DURION AG Company, as the main investor that invested $27 million…