- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
General Assembly
Petro Shorouk Reveals $96 Mn Additional Investments in FY 2025/26
Petro Shorouk revealed the injection of $96 million in additional investments during the current fiscal year (FY) 2025/26, the company’s Chairman, Tharwat El Gendy, pointed out during the company's general assembly to approve the revised investment plan for the current fiscal year and the investment plan for the FY 2026/27.
Investment Plan
Petrobel Increases 2025/26 planned investments to $460 Mn
Belayim Petroleum Company’s (Petrobel) investment plan for the fiscal year (FY) 2025/26 has been increased to approximately $460 million, Tharwat El Gendy, Petrobel’s Chairman, announced in the company's general assembly to approve the revised investment plan for the current fiscal year and the investment plan for the FY 2026/27.
Harbour Energy
Harbour Energy Briefs Badawi on Developments in Dissouq field
Ezz, the first well in Harbour Energy’s recent gas discovery at the Dissouq field, has been brought into production, lifting the field’s gas and condensate output to about 14,000 barrels of oil equivalent per day (boe/d). The second well is expected to come online soon, and the company plans to drill additional wells in the near future, Sameh Sabry, Harbour Energy’s Executive Vice President for the Middle East and North Africa, said during a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources. The meeting addressed work progress at the onshore Disouq field, where Harbour Energy serves as the operator, as well as joint investment plans with bp for the offshore West Nile Delta fields, where BP is the lead operator, and Harbour is a primary partner.
Egyptian Prime Minister
Madbouly inspects SUMED Petroleum Port at Ain Sokhna
Egyptian Prime Minister Mostafa Madbouly conducted a tour of the SUMED Petroleum Port, inspecting the port’s petroleum products and liquefied natural gas (LNG) handling and storage terminal.
Egypt
Sulnox, Pan Marine Partner to Distribute Eco Fuel in Egypt
Sulnox Group Plc, a UK-based greentech company, has signed a distribution agreement with Pan Marine Petroleum Services (Pan Marine). The collaboration integrates Sulnox’s fuel-saving and emission-reducing technology with Pan Marine’s nationwide distribution network, according to a press release on the agreement. Pan Marine, a leading integrated maritime and energy services provider in Egypt with strong nationwide distribution capabilities, serves nearly 1,500 clients across more than 20 locations nationwide. The company will market Sulnox Eco, a 100% organic, biodegradable fuel conditioner, through its established platforms, which have previously scaled major brands such as Castrol, a global producer of premium automotive and industrial lubricants. Sulnox Eco is designed to improve combustion efficiency and storage stability for both traditional fuels and biofuel blends. This is increasingly relevant as shipping companies adopt biofuels to meet tougher European Union (EU) emissions rules for journeys between Asia and Europe, noted the press release. The collaboration integrates Sulnox’s fuel-saving and emission-reducing technology with Pan Marine’s nationwide distribution network in Egypt. Pan Marine, a maritime and energy services provider partnered with bp, Shell, and ENI, serves nearly 1,500 clients across more than 20 locations.
Cabinet Meeting
Cabinet Approves Egypt's First Airborne Mineral Survey in 40 Years
During its weekly meeting, the Cabinet approved request from the Mineral Resources and Mining Industries Authority (MRMIA) to contract a specialized company to conduct a nationwide airborne geophysical survey covering Egypt. The project will cover six geographic zones and aims to provide accurate and updated data on Egypt’s mineral resources, including their size and locations to push investments in the mining sector and maximize the economic potential of Egypt’s mineral wealth.
petroleum reserves
Egypt to Integrate 2,500 MW of Renewables Ahead of Summer 2026
Egypt is planning to add 2,500 megawatts (MW) of renewable energy capacity to its national electricity grid before next summer, said Spokesman for the Presidency Mohamed El-Shennawy. This announcement follows a high-level meeting between President Abdel Fattah El-Sisi, Prime Minister Moustafa Madbouly, and the Ministers of Petroleum and Electricity to review scenarios for ensuring the stability and continuity of power generation nationwide.
