Energy News
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Egypt Cuts 2040 Renewable Energy Target to 40%
Egypt has revised its renewable energy target for 2040 down to 40% from a previous goal of 58%, shifting focus to natural gas.
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No fuel price Increases until the end of 2025 if global price stabilizes
If global prices stabilize at an average of $73 per barrel, there will be no further hikes until the end of 2025.
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Gold breaks above $2,700 to record high
Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty.
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Egypt raises fuel prices for 3rd time in 2024
Ministry of Petroleum and Mineral Resources announced Friday the third fuel price increase in 2024, affecting various octanes and diesel.
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6 key facts about the Sukari gold mine
The Sukari Gold Mine stands as a vital asset in Egypt’s mining sector, contributing to local employment and economic stability.
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AngloGold’s $2.5bn takeover of Centamin approved by Egypt
The deal would make the South African gold miner the world’s fourth largest producer of the precious metal as it hands it the key to the Sukari mine.
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Eni to drill new wells in Egypt
Badawi made the remarks during the general assembly meeting of PetroShorouk, the operator of the Zohr field.
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Greece, Egypt to lean on wind power in GREGY subsea interconnection project
The projects planned in Egypt are so large in scale that essentially they constitute almost one more Greece, so to say.
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Egypt Eyes Gas Production Increase
The government aims to ramp up output at Zohr by drilling new wells starting in the first quarter of 2025, according to a ministry statement.
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EU to finance green transformation in Egypt at €7 mln
Egypt and EU signed on Sunday the European Green Facility initiative to finance green transformation in Egypt valued at €7 Million.
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Egypt urges Nile Basin countries to reconsider water agreement
Egypt and Sudan have so far rejected the agreement while the CFA has been signed by upstream countries, including Ethiopia, Rwanda, and South Sudan.
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Egypt says unilateral GERD operation threatens over 1.1 million livelihoods,
Madbouly warned that Ethiopia’s continuation of unilateral actions regarding GERD poses an existential threat to over 100 million Egyptian citizens.
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Agiba Petroleum Company’s total investments reach $417M during FY2023/2024
El-Gendy also announced the construction of a new state-of-the-art station to treat oil-associated water with a capacity of 45,000 barrels per day.
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Egypt, EU launch €7M green facility to support green transition
The program provides comprehensive technical support to help Egypt strengthen sector strategies, improve water governance.
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Egypt aims to boost natural gas output by 30% per day by 2025
This production increase aligns with the government’s commitment to settle arrears owed to foreign oil companies before the fiscal year ends.
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Egyptian companies deliver natural gas to homes in Europe
This comes after Town Gas was approved by the Romanian Energy Authority, becoming the first Egyptian company working in this field in Europe.
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Gold Prices Surge, 21-Karat Gold Reaches EGP 3,600
Meanwhile, the global price of gold closed at $2,657 per ounce, achieving a weekly gain of $1, or 0.2%.
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ADNOC, ENPPI partner to boost UAE's local industrial sector
The UAE nationals to be employed will be trained by ENPPI at its Project Home Office in Dubai South and headquarters in Cairo, Egypt.
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Chevron to Start Drilling New Gas Well in Egypt's Mediterranean
The upcoming drilling is part of Chevron's broader strategy to expand its presence in Egypt's energy sector.
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Norway, Germany sign €30 mln grant for Egypt's green hydrogen
This fund is directed towards industrial projects at various stages along the green hydrogen value chain.