Madbouly: Local Fuel Prices are not Solely Determined by International Rates

• Thursday, 23rd October 2025
• by Doaa Ashraf

Prime Minister, Mostafa Madbouly, issued on Wednesday a statement clarifying that Egypt’s fuel pricing is not tied solely to Brent crude, but rather a complex set of factors that go into determining local prices, including local production costs and the arrears owed and paid to International Oil Companies (IOCs). "The challenge is that for fuel prices in Egypt, we began from a very low pricing base, and during both the COVID-19 pandemic and the Russia–Ukraine crisis, we chose not to raise prices. The state shouldered huge financial burdens to maintain price stability, covering them through loans in the hope that those crises would be short-lived,” said Madbouly. He explained that this created mounting pressure on the Egyptian General Petroleum Corporation (EGPC) that ended up carrying massive financial liabilities. "Therefore, we had to start adjusting fuel prices gradually to help EGPC regain part of its balance and sustainability so it can continue operating effectively," he added.

SCA, Anchorage Partner to Develop $6Bn Petrochemicals Complex at Ain Sokhna

• Thursday, 23rd October 2025
• by Doaa Ashraf

The Suez Canal Authority (SCA) has signed an agreement with Anchorage Investments, an Egyptian company specialized in investing in and operating companies in the mining and petrochemical sectors,  to establish a major petrochemical complex with investments of over $6 billion in Ain Sokhna. 

The complex will be built in two phases. The first, worth over $2 billion in investments, will produce polypropylene as a main product and hydrogen as a byproduct. The second phase, with investments of $4.5 billion, will produce other petrochemical products and complementary industrial units focused on exports and sustainability.

Limited Administrative Reshuffles in Egypt’s Petroleum Companies

• Thursday, 23rd October 2025
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources, issued a new round of transfers and appointments in the departments of administrative affairs at several petroleum companies. The move aims to support leadership positions with diverse competencies and expertise and contribute to achieving the Ministry's objectives.

Meleiha Workshop Wraps Up Technical Series Ahead of EOG 2025 Convention

• Wednesday, 22nd October 2025
• by Sherine Samir

Meleiha Base, located onshore in the Western Desert, hosted a two-day technical workshop where field engineers from various operators in the region came together to exchange experiences, discuss operational challenges, and explore ways to enhance efficiency and safety.

This workshop, held on October 6th and 7th, was the third and final in a series of technical sessions organized as part of the Egypt Oil & Gas Group’s 11th Convention, scheduled for December 1st. The series was held in collaboration with the Egyptian General Petroleum Corporation (EGPC).

The workshops were designed to strengthen professional ties and foster cooperation among companies operating in Egypt’s oil and gas sector. The outcomes and insights from all three workshops will contribute to shaping the dialogue and direction of Egypt’s upstream sector during the upcoming convention.

Egypt Exports 150,000 Cubic Meters of LNG to Turkey

• Wednesday, 22nd October 2025
• by Doaa Ashraf

Egypt has exported 150,000 cubic meters of Liquefied Natural Gas (LNG) from Idku liquefication plant to Turkey, on board the LNG ENDURANCE tanker operated by France's TotalEnergies, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). 

The shipment follows another carrying of 155,000 cubic meters of LNG that left the Idku plant for Italy last week. That gas was transported onboard the New NATURE tanker, which is operated by Shell International.

Egypt Makes Two New Gas Discoveries Onshore Nile Delta, First in 2 years

• Wednesday, 22nd October 2025
• by Doaa Ashraf

Egypt witnessed a series of new oil and natural gas discoveries in the Nile Delta, Western Desert, and Eastern Desert, adding over 5,000 barrels per day (bbl/d) of oil and 42 million standard cubic feet of gas per day (mmscf/d).

In the onshore Nile Delta region, two natural gas discoveries were made,  the first in two years. The first was made by Harbour Energy through Disouq Petroleum Company (DISOUCO) after drilling the  North Sidi Ghazy 1-9 exploration well. The second was made by the UAE’s Dana Gas through El Wastani Petroleum Company (WASCO) in the West Qantara area from the Salma Delta-6 well. Both discoveries are being prepared for production with a combined estimated output of 19 mmscf/d of gas. 

Egypt, Cyprus Sign 2 Agreements, Bolster Natural Gas Cooperation at EMC 2025

• Tuesday, 21st October 2025
• by Editorial Team

Egypt and Cyprus signed two commercial agreements for transporting natural gas from the Cypriot Cronos field to Egypt on the sidelines of the Eastern Mediterranean Energy Conference and Exhibition (EMC 2025) held in, Cyprus on 20-21 October.The first is a tariff agreement between Egypt's Ministry of Petroleum and Mineral Resources and Italian Eni and French TotalEnergies. The second is a handling, processing, and transportation agreement between the Egyptian Natural Gas Holding Company (EGAS) and IEOC (subsidiary of Eni in Egypt), Eni in Cyprus, and TotalEnergies.

SIDPEC Increases Capital by 25% to EGP 2.27Bn

• Tuesday, 21st October 2025
• by Doaa Ashraf

Sidi Kerir Petrochemicals Company (SIDPEC) raised its issued capital to EGP 2.268 billion from EGP 1.814 billion, a move financed from the company's 2024 net profits as reflected in its financial statements for the period ending December 31, 2024. This decision was made during a general assembly meeting of the company on October 20 and will be carried out through the issuance of 226.8 million new shares, each with a nominal value of EGP 2.

PETROJET Secures $1Bn Contract to Develop Algeria’s Hassi Bir Rekaiz oil Field

• Monday, 20th October 2025
• by Doaa Ashraf

The Petroleum Projects and Technical Consultations Company (PETROJET) has secured a $1.08 billion contract to develop the second phase of the Hassi Bir Rekaiz oil field in Algeria. The project entails the construction of a central processing facility with a capacity of 31,500 barrels per day (bbl/d), along with associated infrastructure and 217 km of pipelines.

MoPMR Hosts Workshop to Explain Provisions of New Labor Law

• Monday, 20th October 2025
• by Doaa Ashraf

The Ministry of Petroleum and Mineral Resources (MoPMR) held a workshop to promote understanding of the provisions of the new Labor Law No. (14) of 2025 and raise awareness about it . Led by Minister of Labor Mohamed Gobran, the workshop discussed how the law applies to public sector companies, public business sector entities, joint ventures, and both investment and private sectors. The workshop was attended by Ehab Abdel Aaty, Legal Advisor to the Ministry of Labor, Ahmed Randi, Head of the Central Administration for Communications at MoPMR, and several other representatives from petroleum companies across various sectors.