Energy crisis
Madbouly described the current regional landscape as marked by “a high degree of uncertainty,” adding that the government is treating the situation as “an unstable transitional phase.”
Egypt is considered one of the most favorable locations globally for solar power generation, enjoying some of the highest sunshine rates in the world. The country receives an annual average of approximately 2,900 to 3,750 hours of sunshine, equivalent to about 9 to 11 hours per day. These levels increase further south, particularly in Aswan and desert regions, where sunshine exceeds 4,000 hours annually, making them ideal for solar energy production, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
In a statement late on Saturday, the Ministry of Electricity and Renewable Energy said the hikes “are limited to higher consumption brackets, which include more affluent groups.”
Japan asked the IEA to prepare another oil stock release as the Hormuz crisis drags on and Japan-linked ships remain stranded.
El-Sisi’s remarks come two weeks into the US-Israeli war, with retaliatory Iranian strikes against several countries in the region killing dozens, disrupting oil supplies, and deepening Middle East instability.
Prices became, 95-octane gasoline for 1,503,000 pounds, 98-octane gasoline for 1,538,000 pounds, diesel for 1,448,000 pounds, and gas for 982,000 pounds.
