News / Egypt

TAQA Arabia Net Profit Jumps 50% to EGP 1 Bn in 2025

TAQA Arabia, Egypt’s leading private-sector energy distribution group, recorded a 50% year-on-year (YoY) increase in net profit for the fiscal year (FY) ending December 31, 2025, reaching EGP 1.05 billion (Bn), marking the first time the Group's profits exceeded the EGP 1 billion profit threshold.

The Group’s consolidated revenues rose by 35% YoY to EGP 25.6 billion. This growth was driven by improved operational performance across its four business sectors: petroleum, natural gas, power, and water sectors, alongside the contribution of newly commissioned projects, according to the group's earnings release.

Petrobel, EGAS Review Zohr Infrastructure Upgrades

The current status of activities and projects related to the gas production infrastructure at the Zohr field, including upgrades to the field’s offshore pipelines, was discussed in a meeting that included Sayed Selim, Executive Managing Director of Egyptian Natural Gas Holding Company (EGAS), with Tharwat El Gendy, Chairman of Belayim Petroleum Company (Petrobel). 

The meeting also reviewed plans for developing and improving the field's gas treatment system through the Floating Processing Unit (FPU) project.  

Zohr Field, the largest gas discovery in the Mediterranean Sea, is developed by Italy’s Eni, along with partners including Rosneft, BP, and Mubadala Energy. Petrobel, a joint venture between Eni and the Egyptian General Petroleum Corporation,  acts as the operator of the field on behalf of the partners.

Madbouly: No Power Outages or Gas Shorages to Factories during Israel–Iran Conflict

The government had accounted for all scenarios to prevent power outages during the Israel-Iran war, said Prime Minister Mostafa Madbouly, while stressing that the state has already taken significant measures, including securing essential supplies of gas, petroleum, and other energy resources to safeguard stability across the sector.

Badawi, Chevron Advance Talks on Aphrodite Gas Pipeline

Karim Badawi, Minister of Petroleum and Mineral Resources, met with Basil Allam, Country Manager of Chevron Cyprus, via video conference to coordinate the executive steps for connecting the Cypriot Aphrodite gas field to Egypt’s infrastructure. The project aims to facilitate the transport of gas to Egyptian liquefaction plants for eventual re-export to international markets.

Badawi Presents New Technologies, Contract Framework to Boost Production

Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that the sector’s five-year plan to increase oil and gas production includes implementing new contractual frameworks aimed at attracting further investments alongside expanding the use of unconventional drilling methods and the latest production technologies.

Badawi highlighted the importance of conducting comprehensive technical and economic feasibility studies as part of the plan, noting that such studies provide geological and financial data that help investors make well-informed investment decisions based on clear foundations.

The remarks came during a meeting with heads and representatives of investment partners involved in oil and gas production from both international and local companies. They reviewed and discussed key features of the plan.

Valmore Holding Revenues Grow 24% YoY in 2025

Valmore Holding, previously known as Egypt Kuwait Holding, reported its financial results for the fiscal year (FY) 2025, with revenues rising 24% year-on-year (YoY) to $685 million. Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 26% YoY to $322 million. At the same time, net profit remained broadly stable at $186 million, compared with the previous year, boosted by one-off foreign exchange gains of $54.5 million.

Esmat Ensures Electricity Grid Security and Sustainability

Egypt’s power system is operating normally, with a strong and resilient unified grid and generation units running on equivalent fuel, according to Minister of Electricity and Renewable Energy Mahmoud Esmat.
This came during Esmat’s meeting with members of the Permanent Committee for Crisis and Risk Management, where he directed raising preparedness levels to secure the unified grid, ensure stability and continuity of supply, and adhere to the timeline for renewable energy projects. He reviewed the action plan aimed at elevating service levels, improving supply quality, and ensuring the security and sustainability of the electricity grid, in light of the military escalation and emergency conditions unfolding in the region.
The committee, which includes member companies, authorities, and affiliated centers, convened as part of ongoing preparations to address all possibilities, variables, and potential outcomes arising from the regional situation.

Badawi Announces New Technology Appointments Across Petroleum Sector

Karim Badawi, Minister of Petroleum and Mineral Resources, has issued a reshuffle involving leadership positions in information and communications technology (ICT) and information systems (IS) fields at the ministry and some petroleum sector companies.

MoPMR Unveils Energy Security Strategy Amid Regional Tensions

Egypt has been implementing a package of proactive measures designed to secure domestic natural gas and petroleum product supplies, according to a statement by the Ministry of Petroleum and Mineral Resources(MoPMR) released after the Israeli strikes on Iran.

This comes as part of an integrated Cabinet-led effort, in coordination with relevant ministries and state institutions, to enhance readiness for emerging developments as energy security remains a fundamental pillar of Egypt’s national security, according to the statement.

The Ministry is closely monitoring current developments resulting from recent military strikes and the subsequent repercussions, including the suspension of piped gas supplies from the Eastern Mediterranean. The Ministry reassured citizens of the diversity of gas supply sources and the availability of ready alternative capacities.

Egypt Accelerates Horizontal Drilling to Boost Oil and Gas Output

The Minister of Petroleum and Mineral Resources, Karim Badawi, said that the petroleum sector is fast-tracking the deployment of horizontal drilling and hydraulic fracturing technologies to unlock hard-to-reach oil and gas reserves and drive a significant increase in crude and natural gas production under the ministry’s five-year plan.

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