Minister of Finance Mohamed Maait said that the high prices of oil will cost Egypt an additional $7.2 billion to the annual costs of the oil imports which the government will have to take into consideration in its budget.
Minister of Petroleum and Mineral Resources Tarek El Molla met with Petronas President & Group CEO Tengku Muhammad Taufik, and an accompanying delegation to discuss the group’s current investments in Egypt and its most important plans to pump investments during the coming period.
SDX Energy announced that it has completed the drilling of the MSD- 24 infill development well which is located on the Meseda field in the West Gharib concession.
Prime Minister Mostafa Madbouly held a meeting to boost cooperation and joint investments with the UAE in energy, especially in renewable energy and the development of natural gas fields.
In a meeting to follow up on the strategic plans for extracting phosphate ore, Prime Minister Mostafa Madbouly highlighted the need to maximize the added value of Egyptian phosphates in order to support the national economy and occupy a prominent position in the global phosphate market.
The Minister of Petroleum and Mineral Resources Tarek El Molla announced the launch of the construction of the petroleum zone in El-Tebbin at the “Modern Area” on an area of 1,000 feddans, the ministry said in a statement.
Egyptian Oil Ministry Spokesman Hamdy Abdel Aziz rejected rumors about a possible increase in natural gas prices, regarding figures published on social media as false. The official natural gas prices were published across official channels in January, and hence all the rumors are not correct, Abdel Aziz stated on El Hekaya, one of Egypt's nightly broadcast programs.
On the sidelines of the MENA Europe Future Energy Dialogue hosted by Jordan, Minister of Petroleum and Mineral Resources Tarek El Molla held a series of bilateral meetings with a number of European ministers, one of which was with the German Minister of Economic Affairs and Climate Action Robert Habeck.
Minister of Petroleum and Mineral Resources Tarek El Molla signed a memorandum of understanding (MoU) with his Jordanian counterpart Saleh Al-Kharabsheh during the MENA Europe Future Energy Dialogue (MEFED 2022) to support and enhance cooperation between the two countries, especially in the fields of mineral resources, petrochemical industries, and oil and gas.
In Jordan's Dead Sea area, Minister of Petroleum and Mineral Resources, Tarek El Molla participated in a high-level ministerial discussion session at the conclusion of the second day of the MENA Europe Future Energy Dialogue (MEFED 2022).
