The Egyptian General Petroleum Corporation (EGPC) renewed its contract with the Iraqi government to import about one million barrels (bbl) of crude oil per month.

Tarek El Molla, Minister of Petroleum and Mineral Resouces, alongside a delegation from Emerson international company, discussed cooperation plans on digital transformation as well as advanced technological solutions for the petroleum sector.

A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.

Electricity Minister and Renewable Energy Mohamed Shaker hinted that Egypt’s green hydrogen projects could cost about $3-4 billion in the early stages.

Prime Minister, Mostafa Madbouly reviewed with the Minister of Petroleum and Mineral Resources, Tarek El Molla, a various number of implementing the petroleum ongoing projects, according to a press release.

ENAP has appointed Denisse Abudinén Butto as the new CEO of ENAP Sipetrol and General Manager (GM) at ENAP Sipetrol Egypt branch succeeding the current GM at Egypt Branch, Roberto McLeod, after his retirement.

Tarek El Molla, Minister of Petroleum and Mineral Resources, received a delegation from the International Honeywell Corporation specialized in providing technical support for petroleum projects, headed by Rajeev Gautam, President and CEO of Honeywell Performance Materials and Technologies (PMT), to review steps that will be implemented in the Red Sea Petrochemical Complex project after signing a land allocation contract in Ain Sokhna, according to a press release.

Petrosannan Company, a joint venture (JV) between Naftogaz of Ukraine (NJSC) and the Egyptian General Petroleum Corporation (EGPC) has increased its oil and natural gas production by  20% and 40%, respectively during the fiscal year (FY) 2020/21.

Pharos Energy plc encountered oil at Batran-1X exploration well in the Abu Roash Lower “G” (LARG) and the Upper Bahariya (UB) reservoirs in Egypt, according to Pharos Energy’s press release.

Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that Egypt has begun actual steps to enter the hydrogen industry and produce it as a clean source of fuel, highlighting that the ministry is developing the strategy for green hydrogen in Egypt and communicating with countries and international companies to explore opportunities for cooperation in this field, a press release stated.