Oil and Gas

Egypt to implement 2 solar power projects with LE 1B EU grant

Mon, 15 Apr 2024 - 10:00 GMT

The first project involves the construction of a 10-megawatt solar power generation station at the Assiut Oil Refining Company. Enppi and Petrojet, two subsidiaries of the petroleum sector specializing in engineering designs, general contracting, and construction, have been assigned to undertake this venture

Chevron to expands natural gas extraction in Egypt's Mediterranean Sea by $60M

Thu, 14 Mar 2024 - 01:51 GMT

Production from the Nargis1 field is set to commence in the first half of 2025, with an initial phase expected to yield 600 million cubic feet.

BP commits $1.5B investment in Egypt for gas projects, drilling activities

Thu, 29 Feb 2024 - 10:32 GMT

The investment will be injected into Egypt's energy sector over a period of three to four years, as confirmed by the BP spokesperson in a statement to Bloomberg.

Oil, gas production in Egypt set to increase with $17B Investments

Mon, 19 Feb 2024 - 05:13 GMT

Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the petroleum sector, in collaboration with its global partners, is working to boost production rates and increase oil and gas reserves.

Egypt to hedge oil supply during FY2023/2024, finance minister

Wed, 27 Sep 2023 - 03:27 GMT

As one of the few countries to do so, Egypt engages directly in the oil derivatives market to lock in supplies, wrote Bloomberg

SDX Energy sells off Egyptian assets, aims expand operations in Morocco

Tue, 05 Sep 2023 - 01:04 GMT

The company expects to close the transaction by the end of 2023.

Egypt hedges 35% of its petroleum until mid-2024

Sun, 03 Sep 2023 - 11:06 GMT

The hedging contracts that were agreed to be executed ranged between 75 and 80 dollars per barrel, and about 35 percent of the total oil needs that we import from abroad each year, amounting to 100 million barrels, have been hedged, the source told Ashraq Bloomberg.

35 new natural gas wells worth $1.5B in investments to be drilled in 2025: El-Molla

Tue, 29 Aug 2023 - 04:16 GMT

The petroleum minister said that the results of the international bidding to search for natural gas in 12 onshore and offshore areas in the Mediterranean and the Delta are being evaluated after it ended at the end of July.

El Molla inspects pivotal projects at New Alamein’s Al-Hamra petroleum port

Sun, 13 Aug 2023 - 04:08 GMT

El Molla highlighted Al-Hamra Petroleum port as a significant opportunity for the petroleum sector, with a strategic geographical advantage and skilled workforce that will support achieving returns

El Molla Launches Egypt Mining Forum 2023, aims to boost mining sector GDP contribution

Tue, 18 Jul 2023 - 05:22 GMT

El Molla disclosed plans to initiate a series of tenders in the current quarter of the year, focusing on precious and base metals, phosphates, sulfur, and potash

Petroleum Minister El Molla witnesses completion of first Egyptian-made oil rig

Wed, 12 Jul 2023 - 03:50 GMT

The rig will be transferred to the Egyptian Drilling Company (EDC). Once it arrives at EDC, the rig will support the company’s fleet in the implementation of drilling and exploration programs in onshore areas

El Molla, US DOE’s Crabtree discuss methane and Carbon reduction co-op

Mon, 10 Jul 2023 - 11:39 GMT

El Molla emphasized the Egypt-US partnership’s significance in terms of joint international initiatives to enhance cooperation and provide solutions and technology for methane reduction

Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

Mon, 03 Jul 2023 - 03:34 GMT

In an official statement, the ministry highlighted the implementation of projects in Alexandria, Assiut, and Suez, with an estimated investment of $7.50 billion

Petroleum minister chairs high committee for monitoring petroleum product trading, distribution

Sun, 25 Jun 2023 - 12:31 GMT

The PetrolMin also underlined the committee's purpose of closely monitoring the flow of petroleum products distribution and trade

Egypt reportedly aims to increase oil exports by 15% in 2023

Sun, 11 Jun 2023 - 04:21 GMT

According to the document, Egypt's oil exports reached $18.2 billion in 2022, a significant rise from $12.9 billion in 2021

Egyptian oil and gas exports drop 28.1% in first two months of 2023: CAPMAS

Sun, 07 May 2023 - 05:12 GMT

The value of natural and liquefied gas exports declined by 12.2 percent to $1.33 billion during the same period in 2023, compared to $1.52 billion in January and February 2022

Energean seeks to acquire Edison for $750 MM

Sat, 06 Jul 2019 - 03:08 GMT

The Mediterranean-focused oil and gas producer Energean has announced entering into a conditional sale and purchase agreement to acquire Edison Exploration & Production S.p.A. (“Edison E&P”) for US$750 million.

Egypt to witness boom in oil, gas industry: APACHE CEO

Fri, 23 Mar 2018 - 08:03 GMT

International oil and gas company APACHE plans to drill 50 wells in Egypt through the national companies Khaleda and Qaroun.

The origins of the Iraqi Kurdistan conflict: Oil revenue autonomy

Thu, 19 Oct 2017 - 03:24 GMT

The development of the conflict between the Iraqi central government and the KRG gives little room to understanding the origin of the dispute.

Egypt’s oil & gas sector acquires majority of FDI: report

Mon, 21 Aug 2017 - 09:45 GMT

The United Kingdom, the United States and Belgium are the largest foreign investors, Renaissance Capital said.