EMC has secured an $18.6 million contract from Eni to supply electrical equipment for Iraq’s Zubair oil field, marking a new step in the Egyptian company’s international expansion.
Scatec has reached the Commercial Operations Date (COD) for the second and final phase of its 1.1-gigawatt (GW) Obelisk solar and battery storage project in Egypt, bringing Africa's largest hybrid solar project into operation.
The project is expected to generate more than 3,000 GWh of electricity annually which will be supplied to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement (PPA) denominated in USD. The project will also reduce carbon dioxide emissions by more than 1.2 million tons per year (mt/y), according to the company.
Karim Badawi, Minister of Petroleum and Mineral Resources met on August 12 with Badr Abdelatty ,Minister of Foreign Affairs, Emigration and Expatriates to discuss joint efforts to promote investment opportunities in Egypt’s oil, gas and mining sectors.
OPEC expects global oil demand to grow by 0.6 million b/d in 2026 and accelerate to 2.2 million b/d in 2027, while non-DoC liquids production is forecast to increase by 0.6 million b/d in both years.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, reviewed preparations for MOC 2026, which will bring energy companies, government officials and industry experts to Alexandria from October 20 to 22.
Egypt is preparing a seismic survey spanning about 110,000 km² in the western Western Desert near the Libyan border, aimed at building a new geological and geophysical database and attracting oil and gas investment in this largely unexplored area, Karim Badawi Minister of Petroleum and Mineral Resources announced.
Egypt’s electricity load hit a record 40,000 megawatts (MW) on August 11, up 700 MW from the previous day’s 39,300 MW, as the grid continues to absorb unprecedented summer demand driven by extreme heat, according to the National Energy Control Center (NECC).
TAQA Arabia, an Egypt-based energy and utility provider, posted a 34% increase in consolidated revenue to EGP 15.46 billion in the first half (H1) of 2026, according to the company’s unaudited standalone and consolidated financial statements disclosed to the Egyptian Exchange (EGX).
The company’s consolidated gross profit rose 20% year-on-year (YoY) to EGP 1.56 billion. It also recorded 65% rise in net profit after tax to EGP 577.9 million in H1 of 2026.
Ministry of Petroleum and Mineral Resources (MoPMR) has launched its 2026 international bid round, offering 14 oil and natural gas exploration blocks to international and Egyptian companies, as part of efforts to attract investment and increase domestic production, Karim Badawi, Minister of Petroleum and Mineral Resources, said.
Egypt targets a 20% increase in exploration and production activities in 2026, alongside refinery upgrades, new gas processing capacity, and digital initiatives aimed at boosting domestic output, reducing imports, and attracting investment.
