Minister of Finance Mohamed Maait announced that Egypt aims to increase its earnings from natural gas exports to $1 billion during the upcoming period noting that currently it gets about $500 million monthly from natural gas exports, Reuters reported.
While chairing the general assembly of the General Petroleum Company (GPC), Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that GPC holds an advanced position when it comes to the production of oil and gas within the Egyptian petroleum industry after it ranked third in production rates, with up to 68,300 barrels of oil equivalent per day (boe/d), which also represents the highest rate in the company's history.
Co-operation Petroleum Company (COPETROLE) Chairman Ayman Naguib presented the most important business results during the year through its activities in the marketing of main petroleum products, lubricants, ship supply and petrochemical products. He explained that the total sold quantities amounted to about 7.3 million tons, with a value of EGP 60 billion.
PetroSafe along with the Gulf of Suez Petroleum Company (GUPCO) have conducted a community consultation session to study the environmental impact of developing the North Safa field located in the Gulf of Suez.
Minister of Petroleum and Mineral Resources Tarek El Molla held a meeting with a delegation from the Oil and Gas Committee at the American Chamber of Commerce in Cairo to coordinate efforts to prepare for the participation of the oil and gas sector in Decarbonization Day, which will be organized at COP27, which Egypt will host in Sharm El Sheikh this coming November.
TAG Oil Ltd. announced that it was formally awarded a petroleum services agreement (PSA) by Badr Petroleum Company to develop the unconventional Abu Roash "F" reservoir (ARF) in the Badr Oil Field (BED-1), which is a 107 km2 concession located in Egypt's Western Desert.
Cairo Oil Refining Company's (CORC) Chairman's Assistant Youssef Tohamy reviewed the most important performance indicators during fiscal year (FY) 2021/22, stating that the amount of crude oil that was refined reached around 8.9 million tons of crude oil in the company’s refineries in Mostorod and Tanta.
The Egyptian Ministry of Planning and Economic Development (MPED) issued a report on government initiatives and programs directed at environmental improvement and the transition to a green economy, with the plan for the current fiscal year 2022/23, the Cabinet announced.
This came during the general assemblies chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the results of APRC, Alexandria Petroleum Company (APC), and the Egyptian Petrochemicals Holding Company (ECHEM) in FY 2021/22.
