Alexandia Mineral Oils Company (AMOC) posted a 17 per cent increase in its standalone net profits during 2024/2025 to reach EGP 1.49 billion. This came on the back of Sales of EGP36.9 billion, marking a 10.8 % gain over its value in 2023/2024.
Total investments stood at EGP 5.1 billion, with total equity around EGP 4.9 billion.
Minister of Investment and Foreign Trade, Hassan El-Khatib, named Khaled Abubakr, chairman of TAQA Arabia, Egypt's leading energy and utility provider, as the Chairman of the Egyptian contingent of the Egypt-Denmark Business Council.
The decision is the most recent development in the strategic partnership agreed upon by Egyptian President Abdel Fattah El-Sisi and Danish Prime Minister H.E. Mette Frederiksen in December 2024 to strengthen trade and investment relations between the two countries.
Suez Canal Economic Zone (SCZONE) has signed two cooperation agreements in green energy with Japanese partners during the 12th session of the Egypt–Japan Business Council and the Egypt–Japan Investment Forum, held in Tokyo.
The first agreement was signed with Japan’s ITOCHU Corporation and Orascom Construction to jointly design, develop, and operate integrated facilities for supplying ships with ammonia as a marine fuel (bunker fuel) at the SCZONE ports of Sokhna and East Port Said.
This agreement will contribute to reducing emissions and supporting the Zone’s transition toward sustainable energy in maritime transport, according to SCZONE press release.
The Egyptian Ethylene and Derivatives Company (ETHYDCO) has fully met its production target for 2024, leading to a rise in domestic sales as well as increasing its export destinations to 35 international markets, particularly Europe (the company’s main export market) and Turkey, in addition to Latin America, where export volumes increased by 130%, according to its Chairman, Hesham Riyad.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Shailender Sinha, (MAusIMM), Vice President of Exploration at International Resources Holding (IRH), and Conrad Alderton, Principal Geologist at IRH. This is the last in a series of meetings between Badawi and the company's officials this month.
Thirty-eight projects were launched by the Egyptian General Petroleum Corporation (EGPC) during the fiscal year (FY) 2024/25; of these, 18 are now fully operational, while 20 are in advanced stages of execution, according to an EGPC statement on the status of energy transition projects in its affiliated companies. These projects led to an annual financial saving of approximately EGP 5.2 billion.
The projects added 30 megawatts of solar power capacity and reduced diesel consumption by around 68 million liters annually. Additionally, 4.5 billion cubic feet of flare gases were utilized and converted into value-added petroleum products, contributing to a reduction in carbon dioxide emissions by about 470,000 tons per year.
Egypt Kuwait Holding Company, a leading investment company in the Middle East and North Africa (MENA) region, reported a 32 % increase in its revenues to reach $397 million in the first half of 2025, compared to the corresponding period of 2024, driven by growth across its various sectors. Net profit increased by 1% year-over-year to $101 million in the first half of 2025. The year-over-year comparison was impacted by a one-off foreign currency gain of $49 million recorded in the first half of 2024. Excluding this gain, the company's earnings would have more than doubled year-over-year.
Karim Badawi, Minister of Petroleum and Mineral Resources, accompanied by sector leaders, conducted an field visit to the refineries at Suez Oil Processing Company (SOPC) and Nasr Petroleum Company to follow up on the implementation of new projects that aim to increase the production of high-value petroleum products, and enhance safety and environmental protection systems.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Vineet Mehra, CEO of International Resources Holding Company (IRH) Global Trading to discuss collaboration in financing and mining.
Karim Badawi, Minister of Petroleum and Mineral Resources has appointed Abeer El-Sherbiny Acting Head of the Ministry’s Technical Office, as the Official Spokesperson for the Ministry.
