The Mineral Resources and Mining Industries Authority (MRMIA) has set closing dates between August 18 and 20, 2026 for bids on nine available mining blocks including phosphate, gold, and talc, located in the Western Desert.
Bidding for Ph35 and Ph37 will close on August 18, while Cg73 and Cg74 will close on August 19. Bids for Ea73, Ea74, Ec72, Ph2 and T5 will close on August 20, MRMIA said in a statement.
The full settlement of arrears owed to international oil companies, together with higher domestic fuel prices, is expected to support Egypt's oil and gas production, improve the Egyptian General Petroleum Corporation (EGPC )'s operating profitability, easing its financial pressures, according to the International Monetary Fund (IMF) report on the results of its seventh review of Egypt's economic reforms.
The report directly linked payments to international oil companies with renewed activity in the upstream sector. It noted that, according to Egyptian authorities, clearing the arrears has strengthened incentives for international oil companies to restore production and step up exploration, ultimately boosting domestic output.
Sinai Manganese Company plans to increase alloy production capacity to 50,000 tons annually by 2028, while advancing new mineral-processing projects to increase local value added and reduce Egypt’s reliance on imports.
Egypt Gas reported a 25% year-on-year (YoY) increase in operating revenues to mount to EGP 4.7 billion for the six months ending June 30, 2026, according to the company’s disclosure to the Egyptian Stock Exchange (EGX).
The company’s net profit after tax rose to around EGP 234.7 million, marking a 12 % increase from its level in the same period of 2025.
The company’s net profit after tax rose to around EGP 234.7 million during the period, compared with approximately EGP 209.2 million in the same period of 2025.
Valmore Holding, a leading diversified investment holding company, reported a 13% year-on-year (YoY) increase in its first-half (H1) 2026 revenue to $392 million. This increase was backed by strong second-quarter results manifested in a 25.2% YoY growth in revenues to $226 million, according to a press release by the company.
The Group's earnings before tax, interest, depreciation and amortization (EBITDA) reached $166 million while its net profit stood at $87.5 million.
Pharaonic Petroleum Company (PhPC) achieved 100% of its production target for fiscal year (FY) 2025/26, Hossam Zaki, the company’s Chairman, said, while outlining plans to increase natural gas and condensate production by maximizing the use of existing infrastructure.
The company is also preparing to bring the Tort-6 well in the Mediterranean onto production before the end of 2026, with a targeted output of approximately 40 mmcf/d of natural gas.
TAQA Arabia, through its subsidiary Rosetta Energy Solutions, Tanzania Petroleum Development Corporation (TPDC), and Africa50, a pan‑African infrastructure investment platform, have signed a Gas Sales Agreement (GSA) for East Africa LNG (EALNG), the venture developing Tanzania’s first small-scale liquefied natural gas (LNG) facility.
Marina Petroleum and Oasis Petroleum Company (OAPCO) approved their financial results for FY 2025/26, with Marina Petroleum reporting $9.8 million in operational spending and advancing the Rizk-6 well and a $70 million five-year investment plan aimed at doubling production and reserves. Al Waha Petroleum maintained average daily production of 470 barrels of crude oil, spent $6.6 million on operations, and reduced carbon dioxide emissions by 25% year-on-year. Its solar power project has also reached 70% completion.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Ahmed El-Sewedy, President and CEO of El-Sewedy Electric, to discuss accelerating the implementation of a phosphate fertilizer plant in the Suez Canal Economic Zone, according to a ministry statement.
Minister of Petroleum and Mineral Resources, Karim Badawi, reviewed progress on several phosphate and phosphoric acid projects as the ministry seeks to develop higher-value industries across the country’s mineral resources.
