Oil & Gas News
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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.
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Twenty oil wells drilled in the Zohr field, daily production at 2.2 billion cubic feet of gas
The decrease in gas production at the Zohr field is normal as all gas fields experience a natural decrease in order to maintain the reservoir.
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SDX Energy sells off Egyptian assets, aims expand operations in Morocco
The sale will support the company in positioning itself for “upcoming diversification into Morocco's energy transition sector”.
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Eni, partners pledge $7.7 bln investment in Egypt over four years
Eni's most notable discovery in Egypt was the Zohr Gas Field in 2015, which allowed the country to achieve self-sufficiency in gas by 2018.
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Egypt’s gas exports under threat
The country’s hopes for becoming a regional gas production powerhouse and LNG export hub are thwarted by question marks.
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Egypt hedges 35% of its petroleum until mid-2024
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.
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British, Ugandan investors buy 11.4 percent of Egypt's TAQA Arabia
British and Ugandan investors have bought 154.8 million shares of local Egyptian energy company TAQA Arabia, which accounts for 11.45 percent.
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Eni to invest $7.7B in Egypt over 4 years
Sisi said he looks forward to more cooperation with Eni to achieve optimal utilization of Egypt's resources from the energy sector.
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Egypt scores successes in petroleum sector, boom in gas exports: Maat Report
This comes in light of the huge projects implemented by the state in this sector, as the oil sector continues to be a great success.
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Latest news of the Egyptian oil industry
Egypt sees major oil sector growth with new discoveries by Cheiron and investments by Shell and Dragon Oil. Exploration deals valued at $319 M signed.
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Egypt plans to drill 45 exploratory gas wells in Mediterranean, Delta until mid-2025
The Egyptian government announced a plan to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion.