Contradictory docs for Cairo refinery reveal disdain for transparency by European Bank officials in first major IFI-financed project since revolution started

A $3.7 billion PPP oil refinery expansion in Cairo is accompanied by contradictory project documents, making a mockery of claims by the public banks involved to be committed to “good governance” or democracy. Despite being presented as merely translations of one document, the Arabic and English “versions” are entirely different – with the Arabic markedly...

BP sponsors lobby group that welcomed executions in Egypt “to restore order” in post-election crackdown

BP is sponsoring a business lobby organisation that enthusiastically welcomed election promises to crack down on dissent in Egypt with executions and brutal force, aiming to crush the revolution after the imminent Presidential elections AmCham  – the American Chamber of Commerce in Egypt – hosted Mubarak-era Prime Minister and current Presidential candidate Ahmed Shafiq for...

Pillage not development: Egypt’s military junta & the European public banks

(this article initially appeared in Bankwatch Mail 50) Bread, freedom, dignity, social justice. These were core demands articulated during the democratic and inspirational Egyptian revolution in Tahrir Square at the beginning of this year. Beyond this, there was widespread support for improved public services to the poor, a shift from subservience to US foreign policy,...

Egyptian oil workers strike over conditions

Egyptian oil workers at the SUMED pipeline terminal on the Red Sea went on strike and protested demanding better employment rights this week, showing their power to slow the transit of crude from the Indian Ocean to the Mediterranean. The striking workers help dock and unload very large tankers that use the SUMED Red Sea-Mediterranean pipeline...

Egyptian communities protest BP expansion plans

Egyptian communities concerned about a proposed BP gas plant on the Mediterranean coast have organised protests, including a sit-in on the site, road blockades and a raid on BP’s local office, as reported by Egyptian paper Al-Masry Al-Youm. The residents of Idku, east of Alexandria, are opposing plans to pump gas ashore from BP’s offshore...

BP support for Mubarak dictatorship revealed

The millions on the streets of Cairo, Alexandria and Suez are furious at Mubarak for upholding his own interests and those of Western powers and foreign companies at the expense of the Egyptian people. For decades, British and American oil companies worked hand in glove with the Egyptian dictatorship, enjoying its “stability” (lack of democratic...