Obelisk in Egypt, Mogobe BESS Fuel Scatec’s Q4 Revenue Surge

• Sunday, 1st February 2026
• by Doaa Ashraf

Scatec, a Norwegian renewable energy solutions provider, reported a 25% increase in proportionate revenues for the fourth quarter (Q4) of 2025. This growth brought quarterly revenues to NOK 3,362 million, according to a press release by Scatec. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at NOK 1,065 million for the quarter.

Scatec said on December 31 that cash flow from operations rose to NOK 1,291 million in the quarter, supported by payments from operating power plants and construction-related cash inflows.

SIDPEC Reports Marginal Increase in Sales in 2025

• Sunday, 1st February 2026
• by Sarah Samir

Sidi Kerir Petrochemicals Company (SIDPEC) announced a 1.84%  year-on-year (YoY) increase in total sales for the fiscal year ending December 31, 2025, to reach EGP 14.413 billion, according to the company's release to the Egyptian Stock Exchange.

SIDPEC's gross profit saw a decline of 43.32%, falling to EGP 1.922 billion. Consequently, the gross profit ratio, ratio between gross profits to revenues, contracted from 23.96% in 2024 to 13.34% in 2025.

Net profit after tax landed at EGP 1.133 billion, a 55.38% decrease compared to the previous year. The basic earnings per share followed this trend, dropping to EGP 1.11 from EGP 2.86 in 2024.

Egypt’s Abydos II Wins Africa Deal of the Year at PFI Awards 2025

• Sunday, 1st February 2026
• by Samar Samir

The Abydos II solar project has reached a major international milestone after being named "Africa Deal of the Year" at the Project Finance International (PFI) Awards 2025. The recognition highlights the project as a premier model for large-scale renewable energy integration and green financing across the continent.

AMOC Revenue Grows 14% in H1 2025/26

• Sunday, 1st February 2026
• by Sarah Samir

Alexandria Mineral Oils Company (AMOC) reported a 14% increase in its consolidated sales revenue in the first half of the 2025/26 fiscal year compared to the same period in 2024 to reach EGP 20.74 billion.
The revenue growth was driven by efforts to maximize production capacity, with the company successfully maintaining high operational efficiency to offset the impact of falling global oil prices.
Consolidated net profit after tax reached EGP 656.4 million for the period ending December 31, 2025. This result marks a 2% year-on-year (YoY) increase over the previous year.

Badawi: Petroleum Exports Represents 14% of Egypt’s Total

• Sunday, 1st February 2026
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources, outlined Egypt’s strategy to maximize the use of its assets, infrastructure, and geographical location to meet the demands of the domestic, regional and global liquefied natural gas (LNG) markets. This came during a panel discussion titled "The energy equation implementation: government pathways to a balanced energy held on the sidelines of Baker Hughes Annual Meeting 2026 in Italy.

The panel discussed the global challenges facing governments in realizing energy policy objectives such as securing supplies, reducing costs, environmental sustainability, and economic growth.

Badawi emphasized the importance of developing refining, petrochemical, and value-added industries, noting that Egypt is working to achieve balance in the energy sector—ensuring supply security, attracting long-term investments, and supporting industrialization, while remaining open to future energy solutions.”

Badawi and ThyssenKrupp Review Progress on Strategic CCUS Joint Venture at MOPCO

• Sunday, 1st February 2026
• by Sarah Samir

Minister of Petroleum and Mineral Resources Karim Badawi met with ThyssenKrupp Uhde CEO Nadja Håkansson to discuss accelerating cooperation in decarbonization and sustainable energy infrastructure, according to a ministry statement. The meeting, held on the sidelines of the Baker Hughes Annual Meeting in Italy, focused on leveraging ThyssenKrupp’s global expertise in industrial plant construction—specifically within the ammonia, methanol, and petrochemical sectors—to modernize Egypt’s energy landscape.

Egypt, Saipem Review WDDM Phase 12 Gas Project and Fleet Modernization Plans

• Wednesday, 28th January 2026
• by Fatma Ahmed

On the sidelines of Baker Hughes Annual Meeting 2026 held in Florence, the Minister of Petroleum and Mineral Resources Karim Badawi, met with Alessandro Puliti, CEO of Saipem, , a leading Italian company specialized in offshore energy engineering and drilling activities, to discuss opportunities to expand the company's activities in Egypt.

The Minister praised the strategic partnership with Saipem, commending its long-standing track record in Egypt, particularly in the development of Zohr and Burullus fields.

Badawi Discusses Mining Cooperation with Baker Hughes

• Wednesday, 28th January 2026
• by Fatma Ahmed

On the sidelines of Baker Hughes annual meeting,held in Florence, Italy, Minister of Petroleum and Mineral Resources, Karim Badawi, met Baker Hughes CEO Lorenzo Simonelli to accelerate cooperation across new and existing energy sectors. The talks focused on fast-tracking previously agreed areas of collaboration following the completion of ongoing technical studies. Progress was reviewed on natural gas storage projects with the Egyptian Natural Gas Holding Company (EGAS) and geothermal energy development with South Valley Egyptian Petroleum Holding Company (Ganope).

For the first time, the two sides discussed cooperation in the mining sector, outlining how Baker Hughes' advanced technologies could support Egypt’s growing mining industry. The company reaffirmed its commitment to working with the Mineral Resources and Mining Industries Authority (MRMIA), discussed a timeline for deploying advanced mining technologies in Egypt, and explored potential collaboration in strategic and rare minerals.

Nile Petroleum Expands Fuel Station Network to 81 in 2025

• Wednesday, 28th January 2026
• by Samar Samir

Nile Petroleum Company, a state-owned firm primarily focused on marketing, distributing, and retailing petroleum products nationwide, has added five new fueling stations, bringing its local network to 81. It also upgraded nine stations and reported increased sales of high-quality 95-octane gasoline. This was announced during the company’s General Assembly held at the Egyptian General Petroleum Corporation (EGPC) headquarters.

At the meeting, Chairman Ibrahim Mowafi outlined developments in 2025, including upgrades at the Nile depot in the Assiut Petroleum Geographical Area, expanded transport capacities, and enhancements to the high-performance lubricants production system (5W-40).

Kuwait Oil Company Awards landmark Drilling Deal to Egypt’s EDC

• Wednesday, 28th January 2026
• by Samar Samir

The Egyptian Drilling Company (EDC) has been awarded a new contract to operate a 1,500-horsepower (HP) onshore drilling rig for the Kuwait Oil Company (KOC), marking the first time an Egyptian company secures a drilling mandate of this scale with the Kuwaiti giant. Operations are scheduled to start in 2027.

The contract represents a strategic milestone in EDC’s expansion plan within the Gulf market, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The move aligns with the MoPMR's broader strategy to bolster the presence of Egyptian national service companies in international markets.