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21-Jan-2016

EGAS reduces natural gas supplies by 10% for fertiliser producers

Egyptian fertiliser producers were requested to cut operating rates by 10% by The Holding Company For Natural Gases  (EGAS), according to an article on Al Borsa. The article added, company sources at MOPCO and Egyptian Kuwaiti Holding's (EK Holding) [EKHO.CA] Alexfert confirmed that EGAS had notified the companies of a shortage in natural gas supply to the main network. Sources at Alexfert also noted that the company lost EGP6 million in 2015 due to gas supply cuts. (Al Borsa)   Egyptian Kuwaiti: USD0.48 as of 20 January 2016, Rating: Buy, FV: USD0.91 per share, MCap: USD492 million, EKHO EY / EKHO.CA

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