QatarEnergy has acquired 40% participating interest in the North North Rafah block spans nearly 3,000 square kilometers in water depths of up to 450 meters. Rafah exploration block offshore the Mediterranean Sea through a farm-in-transaction with Italian Eni, the Operator of the block, which would retain the remaining 60% interest
KarmSolar, Egypt’s pioneering solar energy utility, announced its official expansion into the Cypriot energy market through KarmCyprus, the company’s first international venture.
As part of this expansion, KarmCyprus has secured a license to build and operate a 7.6 Megawatt (MW) solar PV plant in Monagroulli, located in southern Cyprus, and expects it to be operational by September 2026. In September 2025, KarmCyprus finalized €5 million in project financing from EuroBank (formerly Hellenic Bank) to support the PV plant construction.
Alexandria Mineral Oils Company (AMOC) inked a joint agreement with Middle East Oil Refinery (MIDOR) to upgrade the quality of AMOC's production to meet international standards, increasing the supply of high-quality diesel to the domestic market by approximately 350,000 tons
The agreement is part of a plan to enhance integration among petroleum sector companies. It aligns with the directives of the Minister of Petroleum and Mineral Resources, Karim Badawi, to accelerate high-value integrated projects, according to a Ministry statement.
Minister of Petroleum and Mineral Resources Karim Badawi chaired the first meeting of the Higher Committee for the Egypt Energy Show Conference and Exhibition (EGYPES 2026), which will take place from March 30 to April 1, 2026, under the theme “Transforming Energy Through Collaboration, Action, and Realism.”
Prime Minister Mostafa Madbouly has inaugurated the gas recovery project with a cost of EGP 1.1 billion at Nasr Petroleum Company (NPC)’s refinery in Suez Governorate. Executed through PETROJET as the general contractor, the project is designed to produce 340,000 tons annually of butane and naphtha, a key feedstock for high-octane gasoline production.
Misr Fertilizers Production Company (MOPCO) reported its financial statements for the July–September fiscal year (FY) 2025/2026, generating a net profit of EGP 134.93 million, according to a statement reported by the Egyptian Exchange (EGX). This represents a 13% drop compared to the net profit recorded in the same period a year earlier.
Egypt and Cyprus have sealed a set of landmark commercial agreements, marking a decisive step toward the project’s Final Investment Decision (FID), which is expected in the next few months. The deals allow natural gas from Cyprus to be processed and exported through Egypt’s liquefied natural gas (LNG) facilities, reinforcing the latter’s role as the Eastern Mediterranean’s regional gas hub. The HTPA regulates the movement of Cronos gas through Zohr’s offshore infrastructure, using one of the two 30-inch Zohr pipelines. The natural gas will then be processed at Zohr’s onshore facilities before being transported through a new pipeline to the 5mn t/y LNG plant at Damietta, operated by Eni (50%). This route allows the gas to bypass Egypt’s national grid entirely.
On the sidelines of the Ministerial Meeting of the Gas Exporting Countries Forum (GECF) in Doha, Karim Badawi, Minister of Petroleum and Mineral Resources, met a number of senior Qatari officials to discuss incentives adopted by Egypt's petroleum sector to attract more foreign investments in gas exploration activities.
The Qatari officials include Mohammed bin Abdulrahman Al Thani, Qatari Prime Minister and Minister of Foreign Affairs and Saad Al-Kaabi, Qatari Minister of State for Energy Affairs and President and chief executive officer (CEO) of QatarEnergy.
The New Valley Company for Mineral Resources and Oil Clay (Wadico) has inaugurated two projects aimed at enhancing phosphate production efficiency and improving its work environment. The first project is the company's first ore production line, which employs modern technology to increase the quality of the phosphate produced while operating under environmentally friendly methods. The second project is an accommodation camp for workers, which reflects the company's commitment to achieving the highest standards of safety and sustainability at its Upper Egypt sites.
Amgad Abdel Razek Ghoneim, Wadico’s Chairman, confirmed that the new phosphate production line operates with a PLC automated control system. It boasts a production capacity of up to 600,000 tons per year. Ghoneim added that the line features advanced technologies for limiting pollution and preserving the health of workers and the surrounding environment.
Karim Badawi, the Minister of Petroleum and Mineral Resources, stated that Egypt’s natural gas sector has returned to achieving positive results after years of challenges, at the 27th Ministerial Meeting of the Gas Exporting Countries Forum (GECF), held on Monday in Doha under Libya’s presidency. Leading the Egyptian delegation at the forum, the minister added that domestic gas production recorded its first increase in three years last August, driven by a new operational strategy, structural reforms, and incentive measures that restored investor confidence.
