Egypt to Temporary list 10 Petroleum Companies in Privatisation Push

• Wednesday, 15th April 2026
• by Samar Samir

Ten petroleum companies are set to be temporarily listed on the Egyptian Stock Exchange (EGX) under the government’s privatisation programme, following a meeting chaired by Prime Minister Mostafa Madbouly with Karim Badawi, Minister of Petroleum and Mineral Resources, and senior officials from the Cabinet and the ministry. 

The temporary listing gives companies six months to get their paperwork and finances in order before trading starts on their shares. 

Madbouly emphasised that the decision aligns with the State Ownership Policy, which seeks to expand the private sector’s role across key economic activities. He noted that the temporary listing of petroleum companies is intended to improve performance, enhance competitiveness, and attract new investments.

The State Ownership Policy is the strategic framework revealed in 2022  to limit the state’s role in the economy by identifying specific sectors for total or partial divestment to increase private sector participation to 65% of total investments.

TotalEnergies Eyes Western Mediterranean Gas Potential

• Wednesday, 15th April 2026
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources, met with a delegation from France’s TotalEnergies to discuss investment opportunities in the deep waters of the Western Mediterranean, specifically within the Herodotus Basin.

Badawi Urges Tanmia to Expand Role in Early Production Facilities

• Tuesday, 14th April 2026
• by Sarah Samir

Karim Badawi, Minister of Petroleum and Mineral Resources, underscored the importance of maximising the capabilities of Tanmia Petroleum Company in implementing Early Production Facilities (EPFs) to accelerate the addition of wells to the production map and support plans for the development of mature fields.

Tanmia, a state‑owned service provider, focuses on EPFs—plants that let new oil and gas fields start producing before full facilities are built. By deploying EPFs, Tanmia helps operators achieve “first oil” more quickly, generate early cash flow, and collect reservoir data while permanent facilities are under construction.

ANOPC Diesel Complex Nears Completion, Trial Run by End‑2026

• Tuesday, 14th April 2026
• by Doaa Ashraf

Assiut National Oil Processing Company (ANOPC) reported that the construction work in its diesel production complex is almost  88% complete, with trial operations scheduled to begin by the end of 2026. The project is designed to reduce Egypt’s fuel import bill and supply Euro 5‑compliant diesel—cleaner fuel that meets European limits on harmful emissions—to the domestic market, according to the Ministry of Petroleum and Mineral Resources (MoPMR). 

ANOPC Chairman Mohamed Abdullah told the company's general assembly meeting, convened via video conference and chaired by Karim Badawi, minister of Petroleum and Mineral Resources, that the facility will process fuel oil, diesel, and kerosene from the Assiut Oil Refining Company into higher-value products adding that the project aims to realize self-efficiency of diesel in Upper Egypt.

PetroGulf Output Surges 56 % to highest level since 1982

• Tuesday, 14th April 2026
• by Sarah Samir

PetroGulf, a subsidiary of Ganoub El Wadi Petroleum Holding Company (Ganope), has increased output from its Gulf of Suez Fields to its highest level since its inception in 1982. The output currently stands at 26,600 barrels per day (bbl/d) marking a 56 % hike compared with earlier levels in the current fiscal year 2025/2026.
The jump was driven by an unprecedented production surge of about 10,000 barrels per day within just five months, following the implementation of a successful work plan, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).

Petromaint Records its Highest Ever Revenues in 2025

• Sunday, 12th April 2026
• by Fatma Ahmed

The Alexandria Petroleum Maintenance Company (Petromaint) recorded its highest-ever revenues in 2025, rising by 56% year-on-year (YoY) to EGP 11.8 billion, compared to EGP 7.6 billion in 2024. The results, which were approved during the company’s general assembly, reflect strong confidence in its specialized workforce and technical capabilities.

EMC Doubles Operating Profits to EGP 1.57 Billion in 2025

• Sunday, 12th April 2026
• by Fatma Ahmed

The Egyptian Maintenance Company (EMC) reported exceptional operational and financial results in 2025, with revenues rising by 31% to EGP 16.7 billion, while new contracts increased by 27% to EGP 19.6 billion, according to Mohsen Kotb, the company's chairman. Operating profits more than doubled to EGP 1.57 billion, compared to EGP 700 million in 2024, marking the highest growth rate in the company’s history, Kotb stated during the company’s general assembly.

Elsharkawi: Baker Hughes, MoPMR Partner to Launch Subsurface Gas Storage Projects

• Sunday, 12th April 2026
• by Samar Samir

Baker Hughes is accelerating its strategic involvement in underground natural gas storage projects in collaboration with the Ministry of Petroleum and Mineral Resources (MoPMR), according to Amro Ismail Elsharkawi, the company’s Country Director. The initiative aims to leverage Egypt's geological potential to enhance the state's capacity as a regional natural gas hub while driving production through advanced digital platforms.
Speaking in a recent interview with Petrocast, the MoPMR's podcast,  Elsharqawi reported that the company is working directly with the ministry and the Egyptian Natural Gas Holding Company (EGAS) on subsurface storage feasibility.

Egypt to Cut Energy Subsidies by 20% in 2026/27 Budget

• Saturday, 11th April 2026
• by Doaa Ashraf

Egypt allocated EGP 120 billion ($2.26 billion) for energy subsidies in the upcoming FY2026/2027, down from about EGP 150 billion in the current fiscal year, a roughly 20% cut, Finance Minister Ahmed Kouchouk said in a press conference on 11 April. 

The budget was prepared before the escalation of the US‑Israeli war on Iran. It assumes an oil price of $75 per barrel and an exchange rate of EGP47 to the dollar. On the day of the conference, the dollar was trading at around EGP53, and Brent crude oil was hovering around $95 per barrel.

 Kouchouk noted that the government remains mindful of various risks that might necessitate a revision of these budgetary figures. He explained that both the volume and share of reserves in the new budget have been expanded to mitigate existing and emerging threats, specifically accounting for unique regional instabilities and the resulting economic hardships.
Energy subsidies are projected to fall to EGP 120 billion ($2.26 billion), down from about EGP 150 billion in the current fiscal year, a roughly 20% cut, he said noting that the budget assumes an average oil price of about $75 per barrel.

Egypt to Buy Entire Output of Cyprus’s Aphrodite Gas Field in 15-Year Agreement

• Thursday, 9th April 2026
• by Sherine Samir

The Egyptian Natural Gas Holding Company (EGAS) has signed a 15‑year agreement to buy the entire output of the Cypriot Aphrodite gas field, with an option to extend the deal for an additional five years, Bloomberg  reported, adding that the  field would start production in about six years

EGAS signed the preliminary deal with the companies that operate the Aphrodite project and Cyprus’ state-run oil and gas firm, The Aphrodite partners, and Egypt also agreed on a framework to develop a gas transmission system off the Mediterranean coast, noted the news agency.