Energy News
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Agiba Petroleum Company to pump $500M in Egypt during FY24/25
Agiba is aiming for a daily production rate of approximately 30,000 barrels of crude oil and 119 million cubic feet of natural gas during FY24/25.
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Hurghada goes green: A sustainable transformation on the Red Sea
Egypt's Hurghada, a coastal gem nestled along the Red Sea, is set to undergo a remarkable ecological makeover to be a sustainable living hub.
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After many postponements, Fuel prices are up by EGP 1
In a move to address mounting economic pressures, Egypt has announced a hike in fuel prices by LE 1 across all gasoline types.
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Egypt’s Modern Gas to develop $533K subsidiary in Saudi Arabia
The establishment of the new company is part of the petroleum ministry’s strategy and Modern Gas’ plan to expand abroad.
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EGP 99.6bn allocated for petroleum sector development in 2023/24
El-Said highlighted that Egypt Vision 2030 identifies the petroleum sector as one of seven key areas driving economic growth.
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Major Gulf bourses up on strong oil prices; Egypt extends slide
The index encountered a technical glitch earlier in the day displaying inflated gains, before the issue got fixed towards the end of the trading.
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14 Egyptian companies showcase at Xiamen Stone Fair: EECA
Regarded as a pivotal event for the marble and granite industry, the Xiamen Stone Fair serves as a key networking hub for a vast array of investors.
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Egypt Launches Natural Gas Company in Saudi Arabia with Capital of 2 Million Riyals
“Modern Gas Saudi Arabia” with an initial capital of 2m Saudi riyals, with a contribution of 80% of the capital structure of the Egyptian company.
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Egypt aims $145B raise in petroleum, non-petroleum exports within 6 years
Egypt plans to increase industrial production by 20 percent, enhance the green economy's contribution to the gross domestic product to minimum 5%.
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Egypt solar energy project wins 'Energy Transition Deal of the Year' award
The 200 MW plant, Egypt’s largest private solar plant, is expected to make a significant contribution towards Egypt’s target of 42% renewables by 2035
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Egypt Drilling: Orion Flops As Shell Kicks Off Six-Well WDDM Campaign
Eni’s highly-anticipated Orion wildcat off Egypt’s Sinai has turned up dry. Hopes of a major 2024 find now rest on Shell’s ongoing Khufu.
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AMEA Power installs first turbine at 500-MW wind park in Egypt
Dubai-based renewables developer AMEA Power has installed the first turbine at its 500-MW Amunet wind project in Egypt.
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Chevron expands Egypt's natural gas reserves with $60M investment
Chevron, an American energy giant, is set to bolster Egypt's natural gas production with a significant investment of $60 million in the Mediterranean.
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Fuel prices likely to rise in Egypt: Petroleum official
Fuel prices in Egypt may witness an increase of about 10 percent – equivalent to one pound in gasoline prices.
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The Role of French Companies in Supporting Egypt’s Sustainability Priorities
This first event focused on the pressing topics of sustainable packaging and waste management.
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AOI inks deal with local development ministry for 4 waste management plants at €38.8 mln
The European Bank for Reconstruction and Development (EBRD) will fund the project as part of its Kitchener Drain Depollution Project- Solid Waste.
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Egypt receives 4 offers to explore for gold near Sukari mine
Once the two gold-rich areas are fully explored and developed, three additional regions will be opened up for a fresh round of auctions.
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UNIDO, Egypt sign agreement for $3M green Hurghada project
The Green Hurghada project targets the mitigation of greenhouse gas emissions, the preservation of biodiversity in the coastal Hurghada region.
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SIG partners with Plastic Bank and GIZ in project to boost recycling and empower collection communities in Egypt
According to PractiQ Consulting, Egypt generates more than 95 million tons of waste annually and currently only 60% of this waste is collected.
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Gold prices in Egypt soar by 10.8%, 21k-gram jumps by EGP 355
It closed the week’s trading at EGP 3,270 per gram, after opening the week’s trading at EGP 2,915 per gram.