Revenues also increased to EGP 5.2 billion, compared to EGP 3.7 billion in 2022, an increase of 41%. Additionally, the company’s net profits rose to EGP 342 million, compared to EGP 129 million, an increase of 165% year on year (YoY).
The New Valley Company for Mineral Resources and Oil Clay (Wadico) has held its general assembly meeting to approve the results of the work for the year 2023.
Prime Minister Mostafa Madbouly has met with Minister of Petroleum and Mineral Resources Tarek El Molla to discuss several issues concerning the local market as well as the status of providing its petroleum needs, especially before Eid al-Fitr.
Egyptian President Abdel Fattah El Sisi has taken the constitutional oath to officially start his new presidential term on April 2nd, according to a statement from the Egyptian Presidency.
The International Drilling Material Manufacturing Company (IDM) has held its general assembly meeting to approve the results of the company’s work for the year 2023, with the participation of Minister of Petroleum and Mineral Resources Tarek El Molla.
Tanmia Petroleum Company has held its general assembly meeting in the presence of Minister of Petroleum and Mineral Resources Tarek El Molla to discuss and approve the business results for the year 2023.
Minister of Petroleum and Mineral Resources Tarek El Molla has attended the general assembly of Petroleum Marine Services Company (PMS) which reviewed the company's results for the year 2023.
Minister of Petroleum and Mineral Resources Tarek El Molla has met with Denys Toscano Amores, the Ecuadorian Ambassador to Cairo.
Pharos Energy plc has announced that it produced 1,381 barrels per day (bbl/d) of oil during 2023, according to results submitted to the London Stock Exchange.
During the General Assembly, the company’s Chairman, Khaled Ibrahim pointed to the success of EMC in achieving an increase in the volume of revenues and contracts inside and outside Egypt in 2023. This comes as it achieved revenues amounting to EGP 8.2 billion, a 26% increase over the year 2022, and that it provided a volume of contracts amounting to EGP 11 billion, a 15% increase over the year 2022.
