Badawi at AmCham: Egypt Clears Energy Debt, Unlocks Investment

• Wednesday, 8th April 2026
• by Sarah Samir

The Ministry of Petroleum and Mineral Resources (MoPMR) has successfully reduced investment partner arrears from $6.1 billion in June 2024 to approximately $1.3 billion, with a target to fully settle all outstanding debts by June 2026, Minister Karim Badawi recorded during an American Chamber of Commerce (AmCham) event.

On the sidelines of the meeting, which was convened by AmCham and attended by leaders from major international energy firms, top executives affirmed their commitment to the Egyptian market.

Egypt Signs MoU with China’s UEG to Develop Mediterranean Green Hydrogen Hub

• Wednesday, 8th April 2026
• by Doaa Ashraf

Green Hydrogen Development Holding Limited, a subsidiary of United Energy Group (UEG), has signed a Memorandum of Understanding (MoU) with Abu Qir Fertilizers and Chemicals Company, Alexandria Fertilizers Company (Alexfert), and Orascom Construction SAE to explore the development of a Mediterranean Green Hydrogen Hub project in Alexandria.

EPSCO Labor-Supply Business Grows 24% in 2025

• Tuesday, 7th April 2026
• by Doaa Ashraf

The Egyptian Petroleum Services Company (EPSCO) recorded a 24 % increase in revenue from its labor-supply business line to reach EGP 8.2 billion in 2025, according to Chairman Ahmed Shehata.

EPSCO is a prominent services provider with over 15 years of experience in the oil and natural gas sector. The company delivers integrated solutions ranging from workforce supply and procurement to transportation and support for drilling, exploration, and maintenance operations.

MOPCO Surpasses Urea and Ammonia Production Targets in 2025

• Tuesday, 7th April 2026
• by Sarah Samir

Misr Fertilisers Production Company (MOPCO) reported urea production of 1.7 million tonnes in fiscal year 2025, achieving 102% of its investment plan, while ammonia output reached 1.1 million tonnes, also 102% of target. Ahmed Mahmoud, MOPCO chairman, announced at the company’s general assembly convened to approve the 2025 results.

The meeting, chaired by Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), approved a cash dividend of EGP 3.94 per share. Abdel Fattah highlighted Mopco’s vital role in the national economy, noting that the company covers 26% of the domestic market's urea fertilizer demand.

GUPCO Strikes 2,500 bbl/d in the Gulf of Suez

• Tuesday, 7th April 2026
• by Doaa Ashraf

Gulf of Suez Petroleum Company (GUPCO) has completed the drilling of a new exploratory well, South Wasl BB, in the Gulf of Suez. Well tests yielded production rates of about 2,500 barrels of oil per day(bbl/d) and 3 million cubic feet of gas per day (mmcf), and the well was immediately tied into existing production facilities, thereby raising the company’s overall production capacity. GUPCO is a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and its UAE-based investment partner, Dragon Oil, which bought bp's share in the company in 2019.

Eni Makes 2 Tcf Gas Discovery Offshore Egypt

• Tuesday, 7th April 2026
• by Samar Samir

Italy's energy giant, Eni announced a significant natural gas and condensate discovery in the Temsah Concession, located offshore in Egypt’s Eastern Mediterranean. Preliminary estimates for the Denise W 1 exploration well indicate approximately two trillion cubic feet (Tcf) of natural gas initially in place (GIIP) and 130 million barrels (mmbbl) of associated condensates.

The discovery, situated 70 kilometers (km) offshore in 95 meters of water depth, is positioned less than 10 km from existing infrastructure. This proximity allows for substantial synergies, enabling a fast-track development plan to strengthen Egypt's energy security and increase national natural gas production, according to Eni's press release.

Egypt Gas Revenues Records 20% Surge in 2025

• Tuesday, 7th April 2026
• by Sarah Samir

Egypt Gas Company recorded EGP 9 billion in revenues in 2025, achieving 20% growth compared to the previous year. The company aims to improve the figure to EGP 9.5 billion during 2026 as part of a plan to bolster growth and increase business volume.

The improved performance was translated into a 77 % hike in the company's share value to reach EGP42 in  March 2026. "This growth highlights investors' trust in the company's current performance and its future", according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The statement noted that the company's profits were EGP 4.747 billion in 2025, without providing a comparable figure for the previous year.

GASCO Transmits 2,300 bcf of Natural Gas in 2025

• Tuesday, 7th April 2026
• by Sarah Samir

The Egyptian Natural Gas Company (GASCO) received and transmitted approximately 2,300 billion cubic feet (bcf) of natural gas through the national grid during 2025 to meet domestic demand, Mohamed Marzouk, Chairman of the company, told the company's general assembly meeting attended by Karim Karim Badawi, Minister of Petroleum and Mineral Resources.

Marzouk highlighted several strategic projects at the ports of Sokhna and Damietta, including building the infrastructure to receive gas from Floating Storage Regasification Units (FSRUs) and connect it to the national grid; this allowed GASCO to supply gas to meet the peak daily electricity demand of 6.2 bcf/day without service interruptions.

EXIM Approves $2 Bn Insurance to Support US LNG Exports to Egypt

• Monday, 6th April 2026
• by Sarah Samir

The  Board of Directors of the Export-Import Bank of the United States (EXIM)  has authorized over $2 billion in export credit insurance to facilitate US liquefied natural gas (LNG) exports to Egypt, according to an EXIM press release.  The authorization advances Trump Administration priorities to expand American energy exports, strengthen domestic supply chains, and reinforce US economic security, it noted. 

This decision is set to facilitate LNG shipments scheduled throughout 2026 and 2027 under contracts between the Egyptian General Petroleum Corporation (EGPC) and the US-based Hartree Partners, which is a global energy and commodities trading firm, focusing mainly on physical and financial markets for oil, gas and LNG. It will expand Egypt's access to dependable American energy while deepening the commercial partnership between the two nations, according to the release.

Madbouly Reviews Funding Plans for Strategic Petroleum Reserves

• Monday, 6th April 2026
• by Sarah Samir

Prime Minister Mostafa Madbouly met with Karim Badawi, Minister of Petroleum and Mineral Resources, and Ahmed Kouchouk, Minister of Finance, to follow up on measures taken to avail needed funding to build up a sufficient strategic reserve of various petroleum products to cover the local market needs.

The meeting looked into the impact of the energy-saving plan recently adopted by the government on the consumption of petroleum products, as well as the savings resulting from the decision to postpone the implementation of several national projects for three months. These savings should be directed toward covering urgent energy demands and securing the requirements of vital sectors.