Belayim Petroleum Company’s (Petrobel) investment plan for the fiscal year (FY) 2025/26 has been increased to approximately $460 million, Tharwat El Gendy, Petrobel’s Chairman, announced in the company's general assembly to approve the revised investment plan for the current fiscal year and the investment plan for the FY 2026/27.
Ezz, the first well in Harbour Energy’s recent gas discovery at the Dissouq field, has been brought into production, lifting the field’s gas and condensate output to about 14,000 barrels of oil equivalent per day (boe/d). The second well is expected to come online soon, and the company plans to drill additional wells in the near future, Sameh Sabry, Harbour Energy’s Executive Vice President for the Middle East and North Africa, said during a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources.
The meeting addressed work progress at the onshore Disouq field, where Harbour Energy serves as the operator, as well as joint investment plans with bp for the offshore West Nile Delta fields, where BP is the lead operator, and Harbour is a primary partner.
Egyptian Prime Minister Mostafa Madbouly conducted a tour of the SUMED Petroleum Port, inspecting the port’s petroleum products and liquefied natural gas (LNG) handling and storage terminal.
Sulnox Group Plc, a UK-based greentech company, has signed a distribution agreement with Pan Marine Petroleum Services (Pan Marine). The collaboration integrates Sulnox’s fuel-saving and emission-reducing technology with Pan Marine’s nationwide distribution network, according to a press release on the agreement.
Pan Marine, a leading integrated maritime and energy services provider in Egypt with strong nationwide distribution capabilities, serves nearly 1,500 clients across more than 20 locations nationwide. The company will market Sulnox Eco, a 100% organic, biodegradable fuel conditioner, through its established platforms, which have previously scaled major brands such as Castrol, a global producer of premium automotive and industrial lubricants.
Sulnox Eco is designed to improve combustion efficiency and storage stability for both traditional fuels and biofuel blends. This is increasingly relevant as shipping companies adopt biofuels to meet tougher European Union (EU) emissions rules for journeys between Asia and Europe, noted the press release.
The collaboration integrates Sulnox’s fuel-saving and emission-reducing technology with Pan Marine’s nationwide distribution network in Egypt. Pan Marine, a maritime and energy services provider partnered with bp, Shell, and ENI, serves nearly 1,500 clients across more than 20 locations.
During its weekly meeting, the Cabinet approved request from the Mineral Resources and Mining Industries Authority (MRMIA) to contract a specialized company to conduct a nationwide airborne geophysical survey covering Egypt.
The project will cover six geographic zones and aims to provide accurate and updated data on Egypt’s mineral resources, including their size and locations to push investments in the mining sector and maximize the economic potential of Egypt’s mineral wealth.
Egypt is planning to add 2,500 megawatts (MW) of renewable energy capacity to its national electricity grid before next summer, said Spokesman for the Presidency Mohamed El-Shennawy. This announcement follows a high-level meeting between President Abdel Fattah El-Sisi, Prime Minister Moustafa Madbouly, and the Ministers of Petroleum and Electricity to review scenarios for ensuring the stability and continuity of power generation nationwide.
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.
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.
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.
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.
