Oil & Gas News
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Eni’s expansion plan to drill $160M gas wells in Egypt’s Zohr field in 2024
This significant increase in investment and the prospect of drilling new wells were discussed during the Eni delegation’s visit to Egypt.
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Egypt Approves $200 Million in Energy Projects
The agreements included a draft commitment agreement to search for and exploit gas and crude oil in the North Port Fouad offshore area.
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Egypt's Fuel Subsidy Bill Drops by 69%
Over the past three years, Egypt has phased out subsidies on most fuel products as part of an IMF-backed economic reform program.
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Egyptian Petroleum Minister holds talks on strategies to boost oil, gas output
The meeting, held at the ministry’s headquarters in the New Administrative Capital, focused on addressing challenges in the sector.
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Egypt receives 2 gas shipments out of 21
Egypt has received two international shipments of natural gas out of 21 contracted cargoes as part of the country's urgent plan to end power outages.
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Egypt Receives First of 21 LNG Shipments
By the third week of July, things will be in order and the national gas network’s stock will be sufficient, Abdel Aziz noted.
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Five Egyptian companies plan forming a consortium to import liquefied ethane gas
Five Egyptian companies announced plans to form a consortium with a capital of $663 million to import liquefied ethane gas (Shale gas).
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Egypt’s consortium to import US shale gas, addressing natural gas shortage
Sidi Kerir is one of several major companies in the fertilisers and chemicals sector that had to halt production after suffering from gas shortage.
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Natural gas shortage drives 54 percent surge in Egyptian fertilizer prices
Month-on-month prices reached up to $416.57 per ton in June, compared to $270.83 per ton previously.
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Fertilizers giant MOPCO suspends operations over gas supply shortage
State-owned Misr Fertilizers Production Company (MOPCO) said on Tuesday it has suspended operations at its three plants.
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ADES, SUCO Seal Jack-Up Drilling Contract in Egypt
ADES Holding Company has announced the official signing of a Jack-Up Drilling Contract with Egypt’s Suez Oil Company (SUCO).
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Egypt's Abu Qir gas hub sold
Energean plc has recently announced selling its assets in Egypt, Italy, and Croatia to Carlyle International Energy for $945 million.
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Egypt's recent LNG tender for summer delivery has up to 6 months deferred payment
Egypt's recent tender seeking 17 cargoes of liquefied natural gas (LNG) for delivery during summer months includes a deferred payment of up to 6 mon.
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Egyptian Gas Association and France Gaz join forces
This strategic partnership outlines the framework for collaboration in areas of common interest.
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Egypt and Greece: Steps toward stronger connections
Egypt and Greece have taken significant steps to enhance their cooperation in energy, labor, and trade.
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Egypt’s PMI for non-oil businesses approaches stability level
Egypt's Purchasing Managers' Index (PMI) for the non-oil private sector reached 49.6 in May, up from 47.4 in April and the highest level since August.
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Egypt Raises Petrol Prices by up to 14.3%
The diesel price was kept at 8.25 pounds per liter. The decision takes effect from 8 a.m. (0600 GMT) on Friday.
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Egypt to lift fuel subsidies within 4 years: Official
The state has drawn up a plan to gradually lift subsidies on fuel and petroleum products by the end of 2025, Hommosany said.
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Egypt to Launch New Pipeline Costing $36M to Transport Fuel on Mediterranean Coast
The project, which will cost EGP 1.70 billion (roughly $36 million), is expected to begin operations in phases by the end of 2024.
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Why is Egypt raising electricity prices despite new gas discoveries?
The country’s needs for petroleum and natural gas amounts to US$55 billion annually, while local production only amounts to $33 billion.