The Minister of Petroleum and Mineral Resources, Tarek El Molla, has underlined the significant role of the Petroleum Exporting Countries Organization (OPEC) in boosting the international cooperation and taking into consideration the interests of all petroleum manufacturers.
Belayim Petroleum Company (Petrobel) Chairman Khalid Mowafi announced that his company targets investments in its budget plans for fiscal years (FY) 2022/23 and 2023/24 worth more than $800 million per year.
B Investments announced that it has sold all of its stakes in TotalEnergies Egypt to TotalEnergies Marketing Afrique SAS (TEMA) for a total consideration of $27.6 million, which translates into a total company equity value of $433 million, the company said in an EGX disclosure.
Minister of Petroleum and Mineral Resources Tarek El Molla was briefed on the operational results of Badr Petroleum Company (Bapetco), Rashid Petroleum Company (Rashpetco) and Burullus Gas Company.
Prime Minister Mostafa Madbouly highlighted the growing importance of the integrated national strategy for hydrogen production during this period as a promising source of energy for the near future.
Prime Minister Mostafa Madbouly met with Minister of Petroleum and Mineral Resources Tarek El Molla to follow up on the progress of a project to produce soda ash and its derivatives.
Prime Minister Mostafa Madbouly and his Romanian counterpart Nicolae Chuca witnessed the signing of a memorandum of understanding (MoU) between the Egyptian Natural Gas Company (EGAS) and Transgaz, the official operator of the natural gas transportation network in Romania, to enhance joint cooperation in the field of natural gas transportation, the Cabinet announced.
WEPCO Chairman Ibrahim Masoud said that the Western Desert Operating Petroleum Company (WEPCO) managed to produce 9 million barrels of oil (mmbbl) from brownfields and achieved a 400% increase in extractable reserves from 3.5 mmbbl to 17 mmbbl.
Methanex Egypt announces its participation in Egypt Petroleum Show (EGYPS) 2023 taking place from 13-15 February under the theme “North Africa and The Mediterranean: Supporting Sustainable Global Energy Supply and Demand.” Methanex Corporation CEO Rich Sumnerwill be attending EGYPS in his first visit to Egypt after assuming his role in January 2023.
Around half of the public sector companies set to be listed on the Egypt Stock Exchange (EGX) belong to the oil and energy sector.
