TAQA Arabia, Egypt's leading private sector energy group, announced exceptional financial results for the year 2024, demonstrating resilience and robust growth despite a complex operating environment. The company reported a 40.4% surge in revenues, reaching EGP 18.905 billion, while EBITDA increased by 34.6% to EGP 2,003.3 million, and net income rose by 26.7%.
Prime Minister Mostafa Madbouly convened a high-level meeting to review a proposed project for the production of green hydrogen and ammonia in the Gulf of Suez.
The initial results of the Fayoum 5 exploration well located in North Alexandria, which is in the west of the Mediterranean, showed the presence of a gas-bearing layer, and electrical recordings are being made in the coming days.
The Egyptian Cabinet approved converting plots of land belonging to petroleum companies located in Ras Shukheir and the Gulf of Suez into a clean green industrial zone for the petrochemical industry and production of green hydrogen.Â
Minister of Petroleum and Mineral Resources Karim Badawi met the President of Shell Global for Integrated Gas Cedric Cremers to review efforts to increase natural gas production from the company's operating areas in Egypt in the deep waters of the Mediterranean Sea.
Minister of Petroleum and Mineral Resources Karim Badawi recently met with Thomas Maher, CEO of Apex International Energy, and Kamel Al-Sawi, CEO of United Energy Egypt.
The Minister of Petroleum and Mineral Resources, Karim Badawi met with the US Ambassador to Egypt, Herro Mustafa Garg and her accompanying delegation, where the two sides discussed ways to enhance cooperation through US oil companies operating in Egypt in various oil and gas activities, energy efficiency projects, and emission reduction.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Deputy Prime Minister and Minister of Oil of Iraq, Hayyan Abdul Ghani, in Baghdad. The meeting discussed ways of enhancing bilateral cooperation in various aspects of the Petroleum Sector.
The Minister of Petroleum and Mineral Resources, Karim Badawi and Minister of Housing, Utilities and Urban Communities, Sherif El-Sherbiny, held a joint meeting to discuss ways to enhance cooperation between their affiliated bodies, with the aim of accelerating the implementation of priority projects, most notably the delivery of natural gas to social housing and new cities, in addition to coordinating efforts to meet the needs of urban projects for petroleum products.
The Ministry of Petroleum and Mineral Resources (MoPMR) has launched a new round of investment opportunities, offering seven undeveloped fields in the Mediterranean Sea and six exploration areas in the Gulf of Suez and the Western Desert.
