West El-Burullus (WEB) gas field entered production in the Mediterranean after the connection of the first wells to the national grid with production tests estimated at 45 million cubic feet per day (mmcf/d), according to Karim Badawi, Minister of Petroleum and Mineral Resources.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with the World Bank Group’s Regional Practice Director for Infrastructure, Almud Weitz, to advance cooperation and boost the investment appeal of the country's petroleum and mining sectors. Discussions centered on strategic funding for initiatives such as the incentive program for emerging mining companies to invest in Egypt, continued support for the natural gas connection project for households, and energy efficiency efforts.
Egypt has signed a cooperation agreement to carry out the final studies for the electricity interconnection project between Egypt and Europe through Italy, aiming to strengthen the country’s position as a regional energy hub. The Egypt-Europe interconnection is designed to export surplus renewable energy to the European continent, with a targeted capacity of up to 3,000 megawatts.
Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Italy’s Eni, to extend the Gulf of Suez and Nile Delta concession until 2040. This extension allows for the full economic utilization of the available oil and gas potential within the concession area. Under the agreement, Eni will begin a new 3D seismic survey campaign to identify untapped resources, leveraging its specialized technologies and deep subsurface geological expertise.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Jagat Prakash Nadda, India’s Minister of Health, Chemicals, and Fertilizers; Suresh K. Reddy, India’s Ambassador to Egypt; and a delegation of Indian company representatives to discuss cooperation and joint investments in the petrochemicals and mining industries. They agreed to form a joint working group to explore ways to deepen trade and industrial cooperation between Egypt and India.
Singapore-based Destiny Energy plans to invest $210 million to build green hydrogen and green ammonia facilities in SCZONE, aiming to help Egypt meet EU's Carbon Border Adjustment Mechanism (CBAM) requirements.
Taqa Arabia Third Quarter (Q3) consolidated revenue leaped 40% to EGP 18 billion. The company's board also appointed former Petroleum Minister Tarek El Molla as Board Observer.
Qalaa Holding studies issuing a $200 million convertible bond to pay down debt and inject capital into subsidiaries. The board also approved studying the the Initial Public Offering (IPO) of five units, including Dina Farms.
Global energy demand is expected to grow at its slowest pace in two decades as renewable power expands rapidly and fossil fuel consumption peaks before 2030, the International Energy Agency (IEA) said in its recently released World Energy Outlook 2025.
Egypt features prominently in the report, with the IEA noting that its El Dabaa nuclear power plant, North Africa’s first, is due to reach full capacity by 2030. The project underscores the push to strengthen Egypt’s role as a regional energy hub and reduce reliance on fossil fuels.
Egypt Gas generated a net profit of EGP 225.2 million for the nine-month ending September 30, 2025, up from EGP 180.6 million during the same period in 2024, according to the company’s release to the Egyptian Stock Exchange.
