- 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%
Egypt
MoPMR Makes New Discovery in the Western Desert
The General Petroleum Company (GPC) successfully made a new oil discovery, GPR-1X, in the maturing Abu Sennan concession at the Western Desert. Initial tests show promising production rates of 1,400 barrels of crude oil per day (bbl/d) and approximately 1 million cubic feet of gas per day (mmcf/d) from the Bahariya formation, in addition to adding 2 million recoverable barrels to the reserves. This find is a testament to the Egyptian oil and gas sector's ongoing commitment to exploration and resource development.
Karim Badawi
Badawi Follows Up on Petroshahd Output, Urges Acceleration of West Amer Operations
Minister of Petroleum and Mineral Resources Karim Badawi, accompanied by a delegation of petroleum sector leaders, visited the Petroshahd site in the Western Desert to follow up on the production operations and current drilling activities in the company’s concession areas.
exploration
Four Companies Win Egypt Bid Round for Glass, Kaolin Sand Exploration
Mineral Resources Bid Round No. 1 for 2024 concluded with positive results, attracting participation from 20 mining companies and 19 private-sector firms bidding to explore glass sand and kaolin deposits in the Eastern Desert. Bid winners were Alarabiya Mining Company (AMC) to explore in Sector No. (GS 1) for Glass Sand Ore; Sibelco Egypt Industrial Minerals in Sectors No. (GS 3) and (GS 4) for Glass Sand Ore; Pacific Mining in Sector No. (KS 1) for Kaolin Sand Ore; and the International Company for Petroleum and Industrial Services (Income) in Sectors No. (KS 2) and (KS 3) for Kaolin Sand Ore.
EGPC
Badawi Reshuffles Oil, Gas Sector Leadership
Minister of Petroleum and Mineral Resources Karim Badawi has approved a reshuffle and a series of new appointments across the sector. The changes include a new Deputy Chairman of the Egyptian General Petroleum Corporation (EGPC), assistant company heads, and general managers for administrative affairs at select petroleum and mineral resources companies. The move aims to strengthen operational sites with qualified personnel and facilitate the exchange of expertise to support future strategic goals.
Madbouli Heads Meeting to Ensure Adequate Oil and Gas Supply
Prime Minister Mostafa Madbouli held a meeting on Friday afternoon to review the government's plan to secure the country’s needs of oil and natural gas following the Israeli military operation in Iran. The meeting was attended by Hassan Abdallah, Governor of the Central Bank of Egypt, Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Karim Badawi, Minister of Petroleum and Mineral Resources
diesel
In Response to Israel Attacks on Iran, Egypt Activates Emergency Plan for Natural Gas Allocations
In response to Israeli strikes on nuclear targets in Iran, which have heightened political tension in the region, the Ministry of Petroleum and Mineral Resources (MoPMR) has activated a pre-prepared emergency plan to prioritize natural gas supply.
Abu Tartour for Phosphoric Acid Production Company
Badawi Reviews Progress in Abu Tartour Phosphoric Acid Project
Minister of Petroleum and Mineral Resources, Karim Badawi, met with shareholders of Abu Tartour for Phosphoric Acid Company (AT-PHOS) to review the progress and latest developments in the phosphoric acid production project at the Abu Tartour phosphate mine in the New Valley Governorate, Western Desert.
Mining Authority
Egypt Revamps Mining Law for Economic Growth, Investment
Egyptian President Abdel Fattah El-Sisi has issued Decision No. 87 of 2025 amending select provisions of Law No. 198 of 2014, which established the Mineral Resources Law. The move, published in the Official Gazette, aligns with the state’s ongoing efforts to drive a genuine transformation in the mining sector and boost the added value of the country’s mineral wealth.
