The European Bank for Reconstruction and Development (EBRD) is evaluating a financing package of up to $70 million for the Nubia Benban solar project in Aswan, with board approval anticipated in mid-June, according to an EBRD press release.
A delegation from Egypt’s Natural Gas Vehicles Company (Cargas) visited Nigeria to explore expansion opportunities into the Nigerian market and participate in national initiatives aimed at expanding compressed natural gas (CNG) utilization and “Transferring the company’s expertise and pioneering experience in this field, " noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Alexandria Mineral Oils Company reported a consolidated net profit of EGP 635.12 million in the first quarter (Q1) of 2026, compared to EGP 463.07 million in the same period last year, according to the company’s disclosure to the Egyptian Exchange.
The Egyptian assets of Dana Gas, the Middle East’s largest regional private-sector natural gas company, recorded one of their strongest operational performances since 2017 during the first quarter (Q1) of 2026, with production rising 4% YoY to 13,050 barrels of oil equivalent per day (boe/d). This marks the first growth in production in nine years.
In a press release, Dana Gas attributed the improvement to its ongoing investment program under the Consolidated Concession Agreement signed in December 2024. The agreement consolidated 13 development leases from El Manzala, West El Manzala and West El Qantara into a single concession, New El Manzala and aimed at stabilizing production and reviving sustainable growth across its Nile Delta assets.
Karim Badawi, Minister of Petroleum and Mineral Resources, reviewed the operational readiness and stability of the national natural gas grid to ensure it can secure the supply needed to cover the needs of power stations and the industrial sector during the summer season.
Karim Badawi, Minister of Petroleum and Mineral Resources, issued new transfers and assignments, including several ministry leaders as well as chairmen and board members of affiliated companies. This falls within the ministry’s plan to develop the administrative structure, inject fresh talent, and enhance operational efficiency across various work sites.
Karim Badawi, Minister of Petroleum and Mineral Resources, has issued a new round of leadership appointments and transfers within the petroleum sector.
The Egyptian General Petroleum Corporation (EGPC) has signed $800 million loan agreement with the International Islamic Trade Finance Corporation (ITFC) to support the energy sector, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Based in Saudi Arabia as the host country, ITFC is an autonomous entity within the Islamic Development Bank Group established with the purpose of advancing trade to improve the economic condition and livelihood of people across the Islamic world.
Following the signing, Karim Badawi, Minister of Petroleum and Mineral Resources underscored the depth of the Egyptian Saudi cooperation the energy sector, highlighting Suez–Mediterranean Pipeline(SUMED) project as a successful model of Arab integration and cooperation.
Ministry of Petroleum and Mineral Resources (MoPMR) celebrated the growing role of women in the energy industry during an event titled “Women… Energy Driving the Future,” attended by Karim Badawi, Minister of Petroleum and Mineral Resources, senior officials, parliamentarians, and industry leaders. The event highlighted the ministry’s ongoing commitment to empowering women as a key driver of progress across the petroleum, gas, mining, and petrochemicals sectors, according to a statement by MoPMR.
Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that preparations for Summer 2026 are progressing in full coordination with the Ministry of Electricity and Renewable Energy to secure the fuel and natural gas supplies for power plants, ensuring a stable electricity supply without outages, according to a release by the ministry.
