Oil & Gas News
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Investments in Egypt's oil & gas sector in 2014-2023 amounts to LE1.2T
Between 2014 and 2023, the Egyptian government invested LE1.2 trillion in the oil and gas sector, evidenced by completed projects worth LE844.2bn and others in-progress worth LE344bn.
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Egypt converted over half a million vehicles to run on natural gas
Egypt has converted 507,000 vehicles to run on natural gas as part of its national initiative meant to replace old cars that use traditional gasoline.
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Egypt to hedge oil supply during FY2023/2024, finance minister
Egypt engages directly in the oil derivatives market to lock in supplies, becoming a significant market player. An official revealed that Egypt has purchased hedging contracts covering 35% of its expected oil imports.
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BP and ENI among the winners in Egypt licensing round
The companies paid $7.5 million in signature bonuses and have committed to investments totalling about $281 million.
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Oil and gas rich Egypt launches major new licensing round
Egypt has unveiled a new licensing round, offering up 23 diverse onshore and offshore blocks in proven basins and in frontier areas.
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Egypt Targets $9 Billion in Oil, Gas Investments within Year
The targeted investments in the petroleum sector until the end of the current fiscal year are estimated at between 8.5 and 9 billion dollars.
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Kuwait’s KUFPEC acquires 40 percent in Shell Egypt’s Nile Delta offshore block 3
Kuwait Foreign Petroleum Exploration Company (KUFPEC) signed an agreement with BG International, a subsidiary of Shell.
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Egypt Approves GASCO Project to Boost Western Desert Gas Complex Capacity
The Gasco project is expected to provide employment opportunities for about 2,500 workers with an investment cost of about $380 million.
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UAE's ADNOC starts official operations in Egypt: Petroleum Ministry
ADNOC Distribution, the UAE's largest fuel and retail distributor, inaugurated its first fuel service station in Egypt, read an official statement.
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Kuwait’s KUFPEC acquires 40 percent in Shell Egypt’s Nile Delta offshore block 3
Kuwait Foreign Petroleum Exploration Company (KUFPEC) signed an agreement with BG International, a subsidiary of Shell.
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OPEC Fund allocates $10M to support commodities imports in Egypt
The OPEC Fund for International Development supports food security in Egypt with a $10 million allocation for commodities imports. This is part of a $200 million trade finance facility in collaboration with ITFC.
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Egypt to expand oil and gas production from Zohr gas field
The government of Egypt aims to substantially increase the production of oil and gas within the Zohr field.
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Egypt's Zohr field gas output shrinks by 11 percent in FY 2022/2023
Gas production in the giant offshore Zohr field went down by 11 percent in fiscal year 2022/2023: Egypt's Petroleum and Mineral Resources Ministry.
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Total natural gas production of Agiba, Pharaonic Petroleum surpasses 205 million cubic feet per day
Egypt owns huge petroleum capabilities and a strong infrastructure that enables it to implement ambitious programs and plans to increase production.
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Africa: The natural gas sleeping giant
Algeria, Nigeria, and Egypt currently lead the pack in LNG exports having the highest export capacity on the continent.
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Western Alliance Moves Fast On New Middle East Gas Supplies
One of its new core elements is Egypt, with major developments seen in the past week or so.
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North Africa will be Italy's key gas supplier for years, Eni top exec says
Algeria, Egypt and Libya will be Italy's main gas suppliers for the next few years, Eni's head of natural resources told Reuters.
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New companies applied to fuel ships with green methanol
The Suez Canal Authority signed 23 memorandums of understanding for the production of green fuel, 9 of which were signed during COP 27.
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Egypt-listed TAQA Arabia co-establishes gas distribution company in Saudi Arabia
The Cairo-listed energy company TAQA Arabia co-established a natural gas distribution company in Saudi Arabia with a Saudi company.
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Egyptian Petroleum Investments Corp Signs a Cooperation Agreement with Elite Capital & Co. Limited
EPI Corp is specialized in providing investment opportunities, advisory services, management services, and pre-feasibility studies.