- Crude Oil (WTI) 84.67 USD/bbl 0.00%
- Crude Oil (Brent) 91.04 USD/bbl 0.00%
- NYMEX Natural Gas 2.75 USD/MMBtu 0.00%
- OPEC Basket Price 89.44 USD/bbl 1.19%
Egypt
Egypt, Libya Strengthen Ties in Energy Cooperation
Prime Minister Mostafa Madbouly stressed the importance of setting a timeline for cooperation with Libya in natural gas and oil exploration, as well as supporting electricity interconnection between the two countries. Madbouly made the remarks during a meeting with Abdulhamid Al-Dbeibeh, Prime Minister of Libya’s Government of National Unity, at the Egyptian government headquarters in New Alamein City.
Gasco
Badawi Confirms Egypt’s Gas, Fuel Supplies Fully Secured After Damietta Port Fires
Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), visited the National Control Center for Egypt’s National Natural Gas Grid at GASCO to ensure the stability of the network’s operations. He confirmed that natural gas and fuel supplies to power plants and all sectors are secure.
Egypt National Security
Madbouly Briefed on Latest FSRU Fire, Damietta Port Operations
Prime Minister Mostafa Madbouly chaired the cabinet’s weekly meeting, where the focus was on the latest updates on the fire that affected a floating storage and regasification unit (FSRU) and a storage vessel at Damietta Port on July 29, as well as the results of the preliminary investigations conducted by the relevant authorities.
AMOC
AMOC Doubles FY 2025/26 Profit as Revenue Expands 35%
AMOC posted 35% year-on-year increase in consolidated revenue to EGP 26.2 billion and a 109% rise in net profit to EGP 1.90 billion for FY 2025/26, according to its unaudited financial results.
net profit
Abu Qir Fertilizers Posts 119% Profit Surge on Revenue, Export Gains
Abu Qir Fertilizers and Chemical Industries reported a 119% year-on-year (YoY) surge in net profit after tax to EGP 10.01 billion for the first half (H1) of fiscal year (FY) 2025/26, according to its unaudited financial statements submitted to the Egyptian Stock Exchange (EGX). The company’s revenues rose 86% YoY to EGP 23.52 billion during H1 FY 2025/26. Meanwhile, gross profit more than doubled to EGP 12.97 billion from EGP 6.04 billion in H1 FY 2024/25.
Revenues
Sidpec H1 Revenues Up 13% YoY
Sidi Kerir Petrochemicals Company (SIDPEC) revenues climbed 13% in the first half of 2026, year on year (YoY) to EGP 8.53, compared to a year earlier, according to a disclosure on the Egyptian Exchange (EGX).
second quarter results
Eni’s Q2 EBIT Doubles to €5.38 Bn as Sales Rise 32%
The Italian energy company’s Eni reported adjusted earnings before interest and taxes (EBIT) of €5.38 billion in the second quarter (Q2) of 2026, compared to €2.68 billion recorded in the same period of 2025. Eni said the increase was driven primarily by strong performance in its Exploration & Production (E&P) business, Global Gas & LNG Portfolio (GGP) and Transition businesses. Sales from operations amounted to €22.314 billion in the second quarter, up 32% year-on-year (YoY) from corresponding period of 2025.
FSRU
Cabinet: Blaze on FSRU at Damietta Port Caused by Drone
A drone strike caused a fire aboard two vessels at Damietta Port on July 29, 2026, according to preliminary investigations by Egyptian authorities, noted a statement by the Cabinet.
