WEPCO Targets 88 mmbbl/y Trading Capacity for El Hamra Port

• Thursday, 26th February 2026
• by Doaa Ashraf

Ibrahim Massoud, Chairman of the Western Desert Operating Petroleum Company (WEPCO), operator of El Hamra Petroleum Port, announced that the port is targeting a trading volume of approximately 88 million barrels (mmbbl) for the fiscal year (FY) 2026/27. This throughput, facilitated by the port’s offshore facilities and pipeline network, will average 240,000 barrels per day (bbl/d), marking a significant increase in trading activity.

These targets were unveiled during WEPCO’s general assembly meeting to approve the FY 2026/27 investment plan. The session also reviewed amendments to the FY 2025/26 budget to account for extensive expansion works aimed at boosting crude oil and petroleum product storage, alongside enhanced trading operations.

PhPC Average Production Reach 76,000 boe/d during H1 2025/26

• Thursday, 26th February 2026
• by Sarah Samir

Pharaonic Petroleum Company (PhPC) achieved production of 76,000 barrels of oil equivalent (boe/d) during the first half (H1) of fiscal year (FY) 2025/26. PhPC Chairman Hossam Zaki revealed that this output comprised 387 million cubic feet per day (mmcf/d) of gas and 8,740 barrels per day (bbl/d) of condensate.
This came during the General Assembly meeting held to approve PhPC’s investment plan for FY 2026/27 and the amended plan for the current fiscal year.

Capricorn Energy Eyes Expansion of Operations in Western Desert

• Wednesday, 25th February 2026
• by Fatma Ahmed

Karim Badawi, the Minister of Petroleum and Mineral Resources, held talks with senior executives from UK-based Capricorn Energy to review the company’s operations in the Western Desert and its plans to raise oil and gas production. The delegation included Capricorn Energy CEO Randy Neely, Chief Operating Officer, Geoff Probert, and the Managing Director of Capricorn Energy PLC Egypt, Eleanor Rowley.

Egypt, Norway’s Scatec Explore Expanding Renewable Energy Investments

• Wednesday, 25th February 2026
• by Fatma Ahmed

As Cairo steps up efforts to attract high-quality foreign direct investment (FDI), Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Terje Pilskog, CEO of Norway’s Scatec, to explore expanding cooperation in renewable energy and green investment,  according to a press release by the ministry.

Scatec, a renewable energy company, has been active in Egypt’s clean energy sector through a pipeline of solar and wind power investments. The company’s portfolio is anchored by its contribution to the Benban Solar Park, one of the world's largest photovoltaic (PV) installations, and the recently launched Obelisk project in Nagaa Hammadi.

EGPC Transitions to Performance-Based Contracting in well drilling deals

• Wednesday, 25th February 2026
• by Sarah Samir

The Egyptian General Petroleum Corporation (EGPC) concluded a two-day forum to discuss the strategy for transitioning to "Performance-Based Contracting Models"(PBC) in oil well drilling deals. PBC is a procurement model  based on linking payment directly to measurable outcomes and predefined service levels, rather than the traditional way, where companies were simply paid for the hours worked and the materials used. 

This shift is part of the roadmap to achieve the ambitious goals of the state’s five-year plan, which prioritises doubling production rates to secure Egypt’s energy needs through the adoption of advanced contractual mechanisms that keep pace with global developments.

Petrobel Brings Belayim Offshore 133 Well Online

• Wednesday, 25th February 2026
• by Doaa Ashraf

Petrobel, the joint venture between Eni and the Egyptian General Petroleum Corporation (EGPC), has started production from the Belayim Offshore 133 well in the Gulf of Suez at an initial rate of 1,500 barrels of crude oil per day (bbl/d), with further potential to optimize output in the near term, according to the Ministry of Petroleum and Mineral Resources (MoPMR).

ASORC Plans Refining 4.2 mmt Crude oil in FY 2026/27

• Tuesday, 24th February 2026
• by Sarah Samir

Assiut Oil Refining Company (ASORC) targets refining 4.2 million tons (mmt) of crude oil during fiscal year (FY) 2026/27, ASORC Chairman Issa Alaq stated during the general assembly meeting attended by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the FY 2026/27 investment plan.

CPC Plans EGP 1.2 Bn Investments in FY 2026/27

• Tuesday, 24th February 2026
• by Sarah Samir

Cooperation Petroleum Company (CPC) investment plan details a total of EGP 1.2 billion investments in fiscal year (FY) 2026/27, CPC’ Chairman, Mostafa El Sayed, noted. This came during the general assembly meeting attended by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the FY 2026/27 investment plan.

Capricorn Energy Output Hits 20,000 boe/d in 2025

• Tuesday, 24th February 2026
• by Doaa Ashraf

UK-listed Capricorn Energy PLC reported 2025 production in Egypt of 20,024 barrels of oil equivalent per day (boe/d), exceeding the midpoint of its 17,000–21,000 boe/d guidance. By year's end, the company's recorded rise in production rates to 21,003 boe/d, supported by new development wells drilled since July 2025 and the expanded waterflood program at the Badr El Din (BED) field, according to the company’s operational and trading update released on February 24.

Fitch Solutions: Egypt’s Natural Gas Production to Rise 8% YoY in 2026

• Tuesday, 24th February 2026
• by Sarah Samir

Fitch Solutions expects Egypt’s annual natural gas production to increase by 8% Year-on-Year (YoY) in 2026, reaching 46.6 billion cubic meters (bcm) compared to 2025. This growth follows a production decline during the previous year, as production was 43.1 bcm, according to a Cabinet statement.