Petroleum Sector

UAE's Mubadala eyes expansion in Egyptian petroleum sector amid promising opportunities

Thu, 07 Dec 2023 - 11:47 GMT

Al-Hamed affirmed Mubadala's commitment to continuing its expansion in projects in Egypt in the near future.

Egypt signs 16 MoU during EGYPS 2023's final day

Wed, 15 Feb 2023 - 06:37 GMT

This came at the final day of the Egyptian Petroleum Show (EGYPS 2023).

Egypt's petroleum sector exports rises to $13B in 2021

Mon, 14 Feb 2022 - 03:30 GMT

Molla pointed to achieving a surplus in the oil trade balance for the first time in 2021 at an amount of $2.9 billion.

Total investments targeted for Egypt's petroleum sector in 21/2022 plan hit LE 65.3B

Mon, 23 Aug 2021 - 02:58 GMT

El-Said added that the petroleum sector is one of the mainstays of economic growth, as it is a major source of providing the state's energy needs, which contributes positively and directly to meeting the requirements of sustainable and comprehensive economic development plans adopted by the Egyptian state.

Multi-stakeholder platforms help in exploring opportunities for int'l partnerships in petroleum sector: Al-Mashat

Sun, 09 May 2021 - 04:13 GMT

"The oil and gas sector development strategy has led to the signing of 98 international agreements with a minimum investment of $16 billion,” Tarek el-Molla commented.

Egypt produces 6.2 billion cubic feet of gas per day, ranks 13th in world

Mon, 14 Dec 2020 - 03:44 GMT

The petroleum sector has succeeded during the past six years in signing 86 petroleum agreements and attracting new international companies in the field of research and exploration, and the two largest projects to collect geophysical data have been implemented in the Red Sea and the Arab region in the Mediterranean.

Egypt’s petroleum exports record $2.42B in Q1 2019/20

Mon, 25 Nov 2019 - 09:15 GMT

The ministry attributed the decline in the value of exports from July to Sept. to the global decline in prices, despite the 2.1 increase in quantities exported.

LNG Edco’s production exceeds 90% of total capacity

Tue, 19 Nov 2019 - 02:18 GMT

The volume of production of the liquefaction plant in Edco is expected to reach 100 percent in the coming period, the sources said.

Egypt records highest investment rate in petroleum sector by $30B

Thu, 12 Sep 2019 - 01:32 GMT

Molla clarified that the sector achieved the largest contribution to GDP by about 25 percent, in addition to its contribution of 44 percent in foreign direct investment.

Foreign investments in petroleum sector to exceed $10B in 2019/20

Wed, 22 May 2019 - 02:11 GMT

The source pointed out that this will be reflected on the growing oil activity and projects implemented.

Oil sector adopts integrated strategy to achieve Egypt 2030 vision

Mon, 22 Apr 2019 - 12:35 GMT

The strategy aims to enhance the sector's role in the overall development process, maximize the benefits of the natural resources and assets and increase the proceeds.

Volume of joint foreign investments in petroleum sector hits $5.7B

Mon, 25 Feb 2019 - 11:32 GMT

The source clarified that $3.2 billion was invested in operations to explore oil and gas, in addition to developing fields, adding that the operating cost reached $1.6 billion.

Egypt signs 7 agreements to explore petrol, gas with investments of $162M

Wed, 20 Feb 2019 - 12:29 GMT

Procedures of 10 new agreements were completed during July and August 2018.

Egypt works on contract to attract more investment in oil sector

Tue, 12 Feb 2019 - 02:11 GMT

The contract will provide investors with incentives to explore for fossil fuels in undeveloped areas.

Petroleum sector key player in implementing development plans, says minister

Mon, 10 Dec 2018 - 02:17 GMT

Egypt could outline and implement a well-designed economic reform program with strong public support, said a proud Molla.

Egypt aims to invest LE 145.6B in petroleum sector during 2018/19

Wed, 29 Aug 2018 - 10:23 GMT

Natural gas investments represent 91 percent of petroleum investments which amount to LE 132.8 billion.

Sisi orders continuing efforts to upgrade electricity, petroleum sectors

Sat, 19 May 2018 - 06:42 GMT

President Abdel Fattah El Sisi issued directives on Saturday to persist with the efforts meant to upgrade the electricity and petroleum sectors.

Petroleum Minister speeds up sector development strategy

Mon, 10 Jul 2017 - 12:28 GMT

Minister of Petroleum Tarek El-Molla stressed it is important to rapidly implement this strategy to support economic growth.