Egypt Gas has unveiled its estimated budget for the 2026 fiscal year, targeting a net profit after tax of EGP 420 million. The company’s financial roadmap, disclosed to the Egyptian Exchange (EGX), focuses on expanding natural gas delivery networks to residential and industrial sectors while optimizing operational efficiency to support the national economy.
The United Energy Egypt (UEE) has drilled around 30 wells in 2025, which successfully offset natural reservoir decline and increased oil production by more than 20%, according to Kamel Al Sawi, Regional President of UEE, in an interview with PetroCast. The production surge follows a strategic expansion of the company’s footprint and the implementation of aggressive drilling schedules to maximize asset recovery.
The Ministry of Petroleum and Mineral Resources has signed a Memorandum of Understanding (MoU) with the Lebanese Ministry of Energy and Water to supply natural gas to Deir Ammar Power Plant in Lebanon for electricity generation. This came during Karim Badwi, Minister of Petroleum and Mineral Resources' visit to Lebanon and deepening bilateral relations on the oil and gas front.Â
Alexandria Mineral Oils Company (AMOC) has approved its budgets for the 2025/26 fiscal year, including a capital expenditure plan of about EGP 580.2 million. The company expects net profit after tax to reach around EGP 1.02 billion, according to its disclosure to the Egyptian Exchange (EGX).
A high-level field inspection was conducted at the EDC-11 drilling rig within the North Bahariya Petroleum Company (Norpetco) concession to evaluate operational efficiency and safety performance. The visit follows directives from Karim Badawi, Minister of Petroleum and Mineral Resources, regarding the necessity of direct leadership engagement at production sites to ensure sustainable output. The delegation was led by Ehab Ragaee, First Undersecretary for Production Affairs at the Ministry of Petroleum and Mineral Resources (MoPMR), and Wael Lotfy, Undersecretary for Projects at MoPMR, according to a statement by MoPMR. They were joined by members of the EDC Board of Directors, headed by Chairman and Managing Director Osama Kamel, in the presence of Norpetco Chairman Khaled El Sheshtawy.
A strategic acceleration of natural gas production projects is underway to boost national output and reduce import costs ahead of the 2026 summer demand peak. The initiative focuses on fast-tracking the connection of new developments to the national natural gas grid while identifying and resolving implementation challenges to ensure energy security. The plan was reviewed during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and leaders of the Egyptian Natural Gas Holding Company (EGAS), according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Four natural gas wells have been successfully drilled in the Nile Delta as part of an 11-well development program by El Wastani Petroleum Company (WASCO). The news wells are aimed at boosting national output. The progress was reviewed during an inspection visit by Mahmoud Abdel Hameed, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), to verify the execution status of the ongoing drilling and production projects.
A Level 3 simulated fire drill has been successfully carried out at the Middle East Oil Refinery Company (MIDOR) refinery in Alexandria Governorate to strengthen emergency preparedness and response capabilities. The exercise was conducted in line with the health, safety, and environment (HSE) pillar of the national petroleum strategy, providing a practical test of the facility’s crisis management systems. The drill was implemented under the directives of Karim Badawi, Minister of Petroleum and Mineral Resources, and involved various companies operating within the Alexandria Petroleum Geographical Zone alongside the General Directorate of Civil Protection, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR) .
A new round of leadership transfers and administrative appointments has been launched across several petroleum sector companies to optimize expertise and support organizational growth. Minister of Petroleum and Mineral Resources Karim Badawi issued the decree to fill key positions among assistant chairmen and general managers of administrative affairs.
The Minister of Petroleum and Mineral Resources, Karim Badawi, has announced a limited reshuffle of leadership positions across petroleum refining and manufacturing companies, aimed at filling key vacancies within the sector. The changes include the appointment of new chairmen for Nasr Petroleum Company (NPC) and Assiut National Oil Processing Company (ANOPC), as part of ongoing efforts to strengthen management structures and support operational efficiency across Egypt’s downstream oil and gas industry.
