News

Apex International Energy announced that the Fajr-8 development well was tested at a daily rate of 2,440 barrels of oil and negligible water. The well encountered 98 feet of high-quality oil pay in sandstone of the Bahariya Formation. The well was connected to...

LONDON, May 9 (Reuters) - Eastern Mediterranean-focused oil and gas producer Energean (ENOG.L) said on Monday it had made a new commercial gas discovery off the coast of Israel, although it fell far short of the company's previous estimates. Energean said it...

EBRD sees growth slowing to 2.5 per cent in southern and eastern Mediterranean in 2022Deceleration driven by the impact of the war on UkraineGrowth to increase to 4.8 per cent in 2023 as recovery gathers pace The European Bank for Reconstruction and Development (EBRD)...

Apex International Energy Management LLC connected the Fajr-8 development well in the southeast Meleiha (SEM) concession in Egypt’s Western Desert to production infrastructure after the well tested at a rate of 2,440 b/d with negligible water. Apex International...

Masdar, one of the world's leading renewable energy companies, and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, have signed two Memorandums of Understandings (MoU) with leading Egyptian state-backed organisations to...

CAIRO, EGYPT — The head of Egypt's Suez Canal Authority says the canal received record high revenues of more than $620 million dollars during April. Analysts say that's partly due to Persian Gulf countries sending more oil and gas to Europe, as the Russia-Ukraine...

MILAN (Reuters) -Eni will press ahead with plans to find alternative gas supplies following Russia’s invasion of Ukraine after first-quarter profits soared above expectations on booming prices. The Italian energy group is looking to use its presence in Africa to...

World attention will focus on Egypt during the COP27 Conference in Sharm El-Sheikh in November, the The international community’s choice of Egypt as the venue for the 27th Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC COP27) in...

DUBAI, United Arab Emirates (AP) — The world's economy is forecast to grow around 3.6% this year, but Arab oil exporters are seeing a windfall from high energy prices that will buoy their economies and replenish their financial reserves this year and next, according...

Kahraba, part of Egypt Kuwait Holding (EKH), has contracted Wärtsilä to add about 20 MW of output to the Borg El Arab power plant, situated southwest of Egypt’s largest coastal city Alexandria. The plant, currently powered by four Wärtsilä 34SG engines running on...

United Oil & Gas PLC (AIM:UOG) doubled revenues and increased profits four-fold as higher oil prices fed through to its bottom line. Production in the year to end-December 2021 rose 6% to 2,327 net barrels per day, but UOG’s realised oil price jumped 82% to...

CAIRO (Reuters) – Honeywell International seeks to invest about $200 million in petrochemicals and the production of green fuels for aircraft in Egypt, the Ministry of Petroleum has quoted Honeywell’s country president for Egypt as saying. Khaled Hashem added during...

Eni has made three new oil and gas discoveries on its Meleiha concession in Egypt’s Western Desert for approximately 8,500 barrels/day of oil equivalent. The discoveries have already been tied into production, in line with Eni’s infrastructure-led exploration...

Eni (NYSE:E) said Wednesday it signed an agreement to secure more gas flows for Italy from Egypt, as Italy and other European countries scour the world for gas supplies that can replace piped imports from Russia. Eni said the deal, combined with last year's...

Minister of Petroleum and Mineral Resources Tarek El-Molla discussed with Jordanian Minister of Investment Khairy Amr increasing cooperation in carrying out natural gas delivery projects inside Jordan with Egyptian expertise through specialised petroleum sector...

The geography of Egypt already makes it one of the most important trade hubs in the world, and now it has the potential to become a major energy hub.As Europe attempts to wean itself off Russian gas, Egyptian LNG is already receiving attention from European companies...

CAIRO: Qatar is to invest $5 billion in Egypt, the government in Cairo announced Tuesday, in another sign of a growing rapprochement following last year's restoration of ties. The announcement came after talks between President Abdel Fattah al-Sisi and visiting Qatari...

Eni boss talks gas with Egyptian President (31.03.22) Eni CEO Claudio Descalzi has held talks today with Egyptian President Abdel Fattah al-Sisi around gas and exports. Minister of Petroleum & Mineral Resources Tarek El-Molla also participated in discussions. Eni...

United Oil & Gas says production is beating expectations at Egyptian well (28.03.22) United Oil & Gas PLC (AIM:UOG) said production at the ASD-2 well in the Abu Sennan licence, onshore Egypt is “significantly above” pre-drill expectations. In addition, a...

MOC 2022 CALL FOR PAPERS EXTENDED TO MAY 1 TO COPE WITH UNPRECEDENTED DEMAND Why Attend MOC? With some 20,000 attendees, 500 exhibitors, 2500 delegates & 250 speakers, MOC 2022 is the premier platform that unites our industry community and matches your brand,...

Egypt raises price of subsidised butane by 7% amid sharp rise in global oil prices (18.03.22) The Egyptian cabinet raised on Thursday the prices of household and commercial butane gas cylinders by seven percent starting Friday - the second such increase since December...

Petrofac wins green hydrogen to ammonia study in Egypt (16.03.22) Petrofac, one of the leading international service providers to the energy industry, has won its first new energies project in Egypt with an in-country subsidiary of Egypt-focused Mediterranean Energy...

Egypt signs green energy deal with Saudi ACWA (08.03.22) CAIRO: The Egyptian Electricity Transmission Co. will this month sign a deal to purchase wind energy of 1,100 megawatts from Saudi Arabia’s ACWA Power. Sources at the EETC said that the project would cost...

Egypt petroleum minister says hike in oil prices negatively affecting country: Report (06.03.22) The big hike in oil prices is negatively affecting Egypt, its petroleum minister Tarek el-Molla was reported as saying by Sky News Arabia on Sunday. "The whole world is...

Seawater desalination is set to take off in Egypt in a big way (02.03.22) Egypt wants to procure 6.4 million tons of water a day by 2050 by using seawater desalination plants. Doosan Heavy Industries & Construction recently signed a memorandum of understanding on...

What’s Next For Egypt’s Burgeoning Oil Industry? (21.02.22) Egypt is expecting major investments in its oil sector this year as national and foreign oil companies increase operations across the country. The development of Egypt’s energy sector has been further...