News / Egypt

MIDTAP Handles Over 5 mmt of Petroleum Products in 2025

Middle East Oil Tankage and Pipelines (MIDTAP), Egypt’s operator of oil storage, pipelines, and marine terminal services, handled more than 5 million tons of petroleum products in 2025, including diesel, jet fuel and styrene, one of the petrochemical products, with the total number of tankers reaching 180, said Chairman Hasanen Mohamad Hasanen during the the company’s general assembly meeting to approve its 2025 fiscal year (FY) results.

He noted that the company’s marine dock recorded growth in activity in the movement of petroleum products compared to the previous year. In 2024, MIDTAP recorded a total of 4.7 million tons of petroleum products traded at its dock with receiving 153 of tankers.

El-Sisi Talks Renewable Investments with Scatec, Envision Energy

President Abdel Fattah El-Sisi held a meeting with Terje Pilskog, Norway's Scatec CEO, and Lei Zhang, the Chairman of the Chinese Envision Energy, to discuss expanding renewable energy investments and green hydrogen collaboration, according to a presidential statement.
The President highlighted that strengthening partnerships with leading international companies is essential to meet the growing domestic and global demand for renewable energy generation. This strategy aims to secure and enhance energy supply chains while transitioning toward a sustainable green economy.

Badr Petroleum Hits 6,500 boe/d in H1 of FY2025/26

Badr Petroleum Company recorded an average production of 6500 barrel of oil equivalent per day (boe/d), achieving its targets for the first half of the current fiscal year, said Ibrahim Massoud, who serves as the Chairman of both the Western Desert Operating Company (WEPCO) and its subsidiary Badr Petroleum Company.
Massoud added that two development wells were drilled, contributing to higher natural gas production rates, with the second well scheduled to be brought online next week.

This came during the general assembly meeting of the Badr Petroleum Company to review the amended investment plan for the fiscal year (FY) 2025/2026 including the addition of a new development well at the Badr-1 field, creating new production opportunities.

Global Solar Council Commends Egypt’s Clean Energy Shift

In its February 2026 report, the Global Solar Council (GSC) praised Egypt’s strategic efforts to diversify its energy mix and bolster green electricity exports, solidifying the nation's standing as a regional hub for sustainable energy, noted a statement by the Egyptian Cabinet.
nt also pointed out that Norway’s Scatec has announced the commencement of commercial operations at its Obelisk solar project in Nagaa Hammadi. The facility marks Egypt’s first hybrid renewable energy plant, integrating solar Photovoltaic (PV) generation with advanced battery storage technology.

WEPCO Targets 88 mmbbl/y Trading Capacity for El Hamra Port

Ibrahim Massoud, Chairman of the Western Desert Operating Petroleum Company (WEPCO), operator of El Hamra Petroleum Port, announced that the port is targeting a trading volume of approximately 88 million barrels (mmbbl) for the fiscal year (FY) 2026/27. This throughput, facilitated by the port’s offshore facilities and pipeline network, will average 240,000 barrels per day (bbl/d), marking a significant increase in trading activity.

These targets were unveiled during WEPCO’s general assembly meeting to approve the FY 2026/27 investment plan. The session also reviewed amendments to the FY 2025/26 budget to account for extensive expansion works aimed at boosting crude oil and petroleum product storage, alongside enhanced trading operations.

PhPC Average Production Reach 76,000 boe/d during H1 2025/26

Pharaonic Petroleum Company (PhPC) achieved production of 76,000 barrels of oil equivalent (boe/d) during the first half (H1) of fiscal year (FY) 2025/26. PhPC Chairman Hossam Zaki revealed that this output comprised 387 million cubic feet per day (mmcf/d) of gas and 8,740 barrels per day (bbl/d) of condensate.
This came during the General Assembly meeting held to approve PhPC’s investment plan for FY 2026/27 and the amended plan for the current fiscal year.

Capricorn Energy Eyes Expansion of Operations in Western Desert

Karim Badawi, the Minister of Petroleum and Mineral Resources, held talks with senior executives from UK-based Capricorn Energy to review the company’s operations in the Western Desert and its plans to raise oil and gas production. The delegation included Capricorn Energy CEO Randy Neely, Chief Operating Officer, Geoff Probert, and the Managing Director of Capricorn Energy PLC Egypt, Eleanor Rowley.

Egypt, Norway’s Scatec Explore Expanding Renewable Energy Investments

As Cairo steps up efforts to attract high-quality foreign direct investment (FDI), Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Terje Pilskog, CEO of Norway’s Scatec, to explore expanding cooperation in renewable energy and green investment,  according to a press release by the ministry.

Scatec, a renewable energy company, has been active in Egypt’s clean energy sector through a pipeline of solar and wind power investments. The company’s portfolio is anchored by its contribution to the Benban Solar Park, one of the world's largest photovoltaic (PV) installations, and the recently launched Obelisk project in Nagaa Hammadi.

EGPC Transitions to Performance-Based Contracting in well drilling deals

The Egyptian General Petroleum Corporation (EGPC) concluded a two-day forum to discuss the strategy for transitioning to "Performance-Based Contracting Models"(PBC) in oil well drilling deals. PBC is a procurement model  based on linking payment directly to measurable outcomes and predefined service levels, rather than the traditional way, where companies were simply paid for the hours worked and the materials used. 

This shift is part of the roadmap to achieve the ambitious goals of the state’s five-year plan, which prioritises doubling production rates to secure Egypt’s energy needs through the adoption of advanced contractual mechanisms that keep pace with global developments.

Petrobel Brings Belayim Offshore 133 Well Online

Petrobel, the joint venture between Eni and the Egyptian General Petroleum Corporation (EGPC), has started production from the Belayim Offshore 133 well in the Gulf of Suez at an initial rate of 1,500 barrels of crude oil per day (bbl/d), with further potential to optimize output in the near term, according to the Ministry of Petroleum and Mineral Resources (MoPMR).

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