Karim Badawi, Minister of Petroleum and Mineral Resources, met with representatives from Quantum Capital Group, a U.S. energy investment firm. The delegation included Charles Davidson, Partner, and Patrick Hughes, Managing Director and Head of Global Government Affairs.
The Mineral Resources & Mining Industries Authority (MRMIA) and Genesis Mining Egypt signed an MoU to develop a $930 million integrated phosphate mining and industrial project in Egypt’s New Valley Governorate.
The Egyptian Mineral Resources and Mining Industries Authority (MRMIA), the New Valley for Mineral Resources and Oil Clay (WADICO), and Elsewedy Capital Holding for Investments signed a shareholders’ agreement to establish a company to develop, construct, manage, and operate an integrated phosphate fertilizer production plant in Ain Sokhna. The agreement comes in Implementation of the Ministry of Petroleum and Mineral Resources' strategy to maximize the added value of the country’s mineral resources.
Prime Minister Mostafa Madbouly announced that Egypt is proactively strengthening energy security by increasing strategic reserves of petroleum products and other essential commodities, following directives from President Abdel Fattah El-Sisi. The initiative aims to protect the economy from disruptions stemming from ongoing regional tensions.
The recent settlement of overdue payments owed to international oil companies (IOCs) marks a significant positive indicator for Egypt’s medium-term economic outlook, according to Standard Chartered's July 2026 report.
The bank noted that the repayment comes alongside investment commitments exceeding $6 billion in oil and gas exploration and production (E&P) activities, a development expected to support injecting more investments into the energy sector and support higher domestic production.
Khalda Petroleum has started production from the newly discovered Wanda deep natural gas exploration well in Egypt’s Western Desert at an initial rate of 40 million cubic feet per day (mmcf/d). Natural gas flow from the well commenced on June 21, with full tie-in to the national natural gas grid scheduled before the end of July, according to a statement by the Cabinet.
Maridive & Oil Services reported rise in its consolidated operating revenues amounting to $66.31 million during the first quarter (Q1) of 2026, up from $60.47 million in Q1 2025, according to the company’s consolidated financial disclosure to the EGX.
The Egyptian company also recorded increase in its net profit reaching $23.24 million in Q1 2026, up from $18.004 million in Q1 2025.
Gulf of Suez Petroleum Company (GUPCO), the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and the UAE’s Dragon Oil, has raised its crude oil production to 71,250 barrels per day (bbl/d), marking the company’s highest output level since July 2019.
Egypt's House of Representatives' Energy and Environment Committee has approved a draft law authorizing EGAS to sign a new offshore exploration and production agreement with Cheiron for the East Alexandria Offshore block in the Mediterranean.
Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), inspected the industrial complex of its affiliate, the Egyptian Ethylene and Derivatives Company (ETHYDCO). The facility produces ethylene and polyethylene, which are utilized across numerous downstream industrial applications.
