Egyptian General Petroleum Corporation

The Egyptian General Petroleum Corporation (EGPC) (Arabic: الهيئة المصرية العامة للبترول‎) is a national oil company of Egypt. EGPC's business includes crude oil exploration, refining, and storage. The company also produces lubricants and greases and offers services for oil and gas projects.[1]

Egyptian General Petroleum Corporation
TypePublic
IndustryOil and gas industry
Founded1956
Headquarters,
ProductsPetroleum
Natural gas
Petroleum products
OwnerMinistry of Petroleum

HistoryEdit

The company was established in 1956 with its headquarters in Cairo.[2] At the foundation stage it was named General Petroleum Authority.[2] It was renamed as Egyptian General Petroleum Corporation in 1962.[2] In February 2018 EGPC partnered with Israel-based company Noble and Delek in a venture called EMED to acquire a 39% stake in the East Mediterranean Gas Company. As director of the majority partner in EMED serves former chairman of EGPC Mohammed Shoeib.[3][4] In 2020 EGPC announced to license about 60 new fuel across Egypt. The company also announced its plans to invest EGP 379 million to build fuel stations and warehouse storage.[5] Currently Abed Ezz El Regal serves as CEO of EGPC.[6]

StructureEdit

EGPC owns 70% of shares in the Egyptian Natural Gas Company, as well as a 75% stake in the petroleum-industry support airline Petroleum Air Services (the remaining 25% being held by the British firm Bristow Group).[7] In 2018 the company had 2000 employees.[1]

See alsoEdit

ReferencesEdit

  1. ^ a b "Egyptian General Petroleum Corporation Fast Facts". Zawya. January 9, 2018. Retrieved June 16, 2020. CS1 maint: discouraged parameter (link)
  2. ^ a b c "Company Overview of Egyptian General Petroleum Corporation". BusinessWeek. Retrieved 18 September 2013. CS1 maint: discouraged parameter (link)
  3. ^ "Egypt's push to be east Mediterranean gas hub". Hellenic Shipping News. January 17, 2020. Retrieved June 16, 2020. CS1 maint: discouraged parameter (link)
  4. ^ "Pipeline deal consolidates Egypt's role as energy hub". The Economist. October 4, 2018. Retrieved June 16, 2020. CS1 maint: discouraged parameter (link)
  5. ^ "EGPC to License New Fuel Stations". Egypt Oil & Gas. March 5, 2020. Retrieved June 16, 2020. CS1 maint: discouraged parameter (link)
  6. ^ "Egypt, Neptune Energy sign exploration agreement for Gulf of Suez". Zawya. February 13, 2020. Retrieved June 16, 2020. CS1 maint: discouraged parameter (link)
  7. ^ "About PAS". Petroleum Air Services. Retrieved June 16, 2020. CS1 maint: discouraged parameter (link)

External linksEdit