TAQA Arabia records 40% Surge in Q3 Revenues
Taqa Arabia Third Quarter (Q3) consolidated revenue leaped 40% to EGP 18 billion. The company's board also appointed former Petroleum Minister Tarek El Molla as Board Observer.
News / Egypt
Qalaa Holding Eyes Debt Reduction, Investment in Subsidiaries
Qalaa Holding studies issuing a $200 million convertible bond to pay down debt and inject capital into subsidiaries. The board also approved studying the the Initial Public Offering (IPO) of five units, including Dina Farms.
Global Energy Demand Slows as Renewables Surge, Egypt to Bring First Nuclear Plant Online by 2030: IEA
Global energy demand is expected to grow at its slowest pace in two decades as renewable power expands rapidly and fossil fuel consumption peaks before 2030, the International Energy Agency (IEA) said in its recently released World Energy Outlook 2025.
Egypt features prominently in the report, with the IEA noting that its El Dabaa nuclear power plant, North Africa’s first, is due to reach full capacity by 2030. The project underscores the push to strengthen Egypt’s role as a regional energy hub and reduce reliance on fossil fuels.
Egypt Gas Posts 25% Hike in Net Profit for 9m 2025
Egypt Gas generated a net profit of EGP 225.2 million for the nine-month ending September 30, 2025, up from EGP 180.6 million during the same period in 2024, according to the company’s release to the Egyptian Stock Exchange.
KIMA Net Profit Jumps 1,164.6% in Q1 FY2025/26
The Egyptian Chemical Industries Company (KIMA) recorded a net profit after tax of approximately EGP 482.705 million during the first quarter (Q1) of the fiscal year (FY) 2025/2026, marking a 1,164.59% leap compared to its level in the same period of the previous year. The profit surge was driven primarily by higher revenues from sales and foreign currency differences.
Egypt, Chinese Envision Energy to Establish Green Ammonia Plant in Suez
Egypt’s Ministry of Public Enterprise Sector has announced progress in developing a major green ammonia production facility in Suez, following high-level talks between Minister Mohamed El-Shimy and executives from Envision Energy, a Chinese company specialized in wind turbines manufacturing, and Benchmark Power International, an investment platform focused on integrating renewable energy into green hydrogen.
EGPC Follows up on Petrobakr Operations, Sustainability Plans
Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), visited Petrobakr Petroleum Company, a joint venture between EGPC and Vaalco Energy, to follow up on the implementation of work plans and to motivate employees and encourage them to exert efforts to meet the Ministry of Petroleum’s goals to increase Egypt’s oil and natural gas production. The visit highlighted ongoing projects including the operation of two wells powered by solar energy, with preparations underway to add three more in the coming period. It also reviewed the new electrical interconnection project with the Ministry of Electricity as well as efforts to reduce drilling costs and to assess current and anticipated oil reserves.
MOPCO to Invest up to $250mn in Capacity Expansion, Export Growth
Misr Fertilizers Production Company (MOPCO) will invest between $200-$250 million in 2026/2027 to increase production capacity and expand in new export markets, the company said in a statement sent to the Egyptian Stock Exchange.
The development plan targets a 10% increase in the company's plants' capacity to reach 2.2 million tons per year (mmt/y), said MOPCO.
Egypt, Greece Discuss Joint Energy Projects, Natural Gas Exports to Europe
Karim Badawi, the Minister of Petroleum and Mineral Resources, held a meeting with Vassilis Kikilias, Greece’s Minister of Maritime Affairs and Insular Policy, to explore ways to strengthen cooperation and partnership between Egypt and Greece in the energy sector and gas transportation infrastructure to Europe, as well as knowledge and expertise exchange.
Badawi Highlights Regional Energy Projects at Egypt-GCC Forum
Karim Badawi, the Minister of Petroleum and Mineral Resources, said during a session at the Egypt-Gulf Cooperation Council (GCC) Trade and Investment Forum that Egypt possesses a robust infrastructure in the oil and gas sector. This infrastructure is fully leveraged to strengthen the country’s position as a regional hub for energy trade and exchange.
