Energy News
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Egypt plans subsea solar energy exports to Europe
With the proposed Egypt-Greece Interconnector, Egypt reaffirms plans to provide solar energy to Europe, subsequently aiming to reduce Europe's fossil fuel dependence.
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Top 10 mining companies in Egypt
Egypt has substantial mineral resources, including coal, gold, iron ore, heavy mineral sands, manganese, nitrogen, and phosphate rock.
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Egypt signs €54M debt swap agreement with Germany to boost energy sector
Egypt targets a 42 percent boost in its renewable energy mix by 2030 with a €54M debt swap agreement with Germany. The move accelerates previous plans set for 2035.
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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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Egypt to launch national strategy for green hydrogen production
Egypt plans to launch a national strategy to become a leading green hydrogen producer and exporter.
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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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AIIB’s 8th meeting concludes in Egypt with call for climate financing innovation
The eighth annual meeting of the Asian Infrastructure Investment Bank (AIIB) concluded on Tuesday with a call to expand public-private partnerships.
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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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Britain to Import Power From Solar Farms in Egypt
In an effort to bolster energy security in a net-zero world, plans are underway for Britain to import power from solar farms in Egypt. The project details will be unveiled in London next week.
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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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These are the 5 best times to invest in gold
When it comes to investing in precious metals, buying gold has long been considered a safe-haven asset.
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3 Arab, Chinese firms eye establishing $600mln wind farms in Egypt
Two firms will submit a detailed offer, including the farms' capacities and proposed prices per kilowatt (KW).