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.

Sidpec Records 1.77% Sales Growth in 2025

• Monday, 6th April 2026
• by Doaa Ashraf

Sidi Kerir Petrochemicals Company (Sidpec) reported total sales of EGP14.4 billion and a net profit of EGP1.138 billion for the fiscal year (FY) 2025, according to Chairman Mohamed Zakaria El Afandy, who noted that performance remained resilient despite surging natural gas and polymer prices amid regional geopolitical tensions. In 2024, the company's sales were EGP14.15 billion while its net profits stood at EGP2.5 billion, according to Reuters.
El Afandy was addressing attendees of Sidpec's general assembly meeting, which approved a cash dividend of EGP 0.50 per share. El Afandy told the meeting that the company’s robust financial position earned it a spot on Forbes Middle East’s "Top 50 Companies in Egypt for 2026."

Sidpec  is an Egypt-based company engaged in the production and distribution of petrochemical products mainly ethylene, polyethylene, butane and naphtha, among others.

Dragon Oil to Invest $3 Bn in Egypt

• Sunday, 5th April 2026
• by Doaa Ashraf

UAE Dragon Oil is planning to invest $3 billion in the coming years in Egypt, according to the company's CEO Abdulkarim Almaazmi. Speaking in the latest edition of Petrocast, the Ministry of Petroleum and Mineral Resources’ podcast, Al Maazmi pointed out that the company’s recent investments in Egypt include a new well discovery in the North Safa field as well as the East Crystal well discovery at the end of 2025. These milestones, he said, underscore the potential for further investment in the region’s oil and gas sector.
In the third quarter (Q3) of 2026, Dragon Oil intends to drill an exploration well in East El-Hamd area.

Eni to Renew North Port Said Concession

• Sunday, 5th April 2026
• by Doaa Ashraf

The Egyptian General Petroleum Corporation (EGPC) signed a binding Memorandum of Intent (MoI) with Italian energy giant Eni to renew the North Port Said concession. The agreement includes the El Gamil strategic facilities, which serve as a primary natural gas processing hub for both current and future projects in the area.

ENPPI, PMS Sign Offshore Work Contract for Harmattan Gas Field

• Sunday, 5th April 2026
• by Sarah Samir

The state-owned Engineering for Petroleum and Process Industries  (ENPPI) has signed a contract with the Petroleum Marine Services (PMS) for offshore works and installations for the Harmattan gas field. 
While ENPPI is the operator of the field, PMS, will undertake the execution of the works.PMS is a leading Egyptian offshore construction and services company that operates a fleet of 20 vessels, serving major clients across the Mediterranean Sea, the Red Sea, and the Gulf of Suez.

This agreement comes within the framework of plans to accelerate the development of the Harmattan natural gas field in the Mediterranean Sea. It follows the signing of the Final Investment Decision (FID) between the Egyptian Natural Gas Holding Company (EGAS) and Arcius International to develop the field during the Egypt Energy Show (EGYPES 2026).

MoPMR, Siemens Energy Sign Natural Gas Efficiency MoU

• Sunday, 5th April 2026
• by Fatma Ahmed

The Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) signed a Memorandum of Understanding (MoU) with Siemens Energy to enhance energy efficiency and accelerate emissions reduction.  

This agreement, signed during the Egypt Energy Show (EGYPES 2026), covers preparing studies for priority projects to improve energy efficiency, such as converting gas turbines to operate under a combined-cycle system, applying combined heat and power (CHP) technologies, upgrading electrical assets, and utilizing flare gases. In addition, the cooperation covers implementing programs for human capacity building and localizing technologies for the repair and maintenance of compressors and turbines.

Khalda Powers Tarik Wells with 22 kV Project to Cut Fuel Consumption

• Sunday, 5th April 2026
• by Doaa Ashraf

Khalda Petroleum Company has started connecting Tarek wells in the Western Desert to its medium-voltage (22 kilovolts (kV)) grid, a move aimed at enhancing operational efficiency while reducing emissions and reliance on conventional fuels.

The project spans a 67-kilometre (Km) electrical network with a total investment of $11.3 million. It is expected to reduce diesel consumption in crude oil operations by more than 8 million liters annually, equivalent to around $500,000 per month, while cutting carbon emissions by approximately 2,175 tons per year.

Egypt Brings 4 New Wells Online with Total Output of 120 mmscf/d

• Friday, 3rd April 2026
• by Fatma Ahmed

Egypt’s Ministry of Petroleum and Mineral Resources (MoPMR) has successfully brought four new natural gas wells onstream, with a combined production capacity of around 120 million standard cubic feet per day (mmscf/d), as part of its strategy to reduce gas import costs and enhance domestic production.

AMOC Reports Sales of EGP 20 Bn in H2 2025

• Sunday, 29th March 2026
• by Doaa Ashraf

Alexandria Mineral Oils Company (AMOC) reported total sales of 808,000 tons, valued at nearly EGP 20 billion in the second half (H2) of 2025, marking a 14.5% growth rate, Chairman Magdy El-Kordy said during the company’s general assembly meeting to approve its financial results. 

El-Kordy presented the company’s key performance indicators, noting that AMOC posted a net profit after tax of  EGP 844 million during the period.

Madbouly Unveils Energy-Saving Measures Amid Global Price Surge

• Sunday, 29th March 2026
• by Fatma Ahmed

Prime Minister Moustafa Madbouly announced on Saturday, March 28, that Egypt is adopting a set of measures to rationalize energy consumption in response to soaring global prices triggered by the war in the Middle East. The measures include slowing the pace of execution of fuel‑intensive national projects for at least two months, cutting fuel allocations for government vehicles by 30%, and enforcing earlier closing hours for commercial outlets — 9:00 PM on weekdays and 10:00 PM on Thursdays and Fridays. Madbouly emphasized that these steps aim to ease pressure on the domestic energy market while safeguarding economic stability.