Agiba Petroleum's Chairman, Tharwat El Gendy, presented the company's performance results for the period spanning July 2024 to June 2025. He confirmed that daily production peaked last May, reaching 44,196 barrels of oil equivalent per day (boe/d). The company's immediate goal is to maintain an average daily production of 30,000 boe/d throughout the upcoming fiscal year 2025/26.
Egypt finalized agreements needed to start the construction of the phosphoric acid production complex at Abu Tartour in the New Valley. The project aims at maximizing the added value and increasing the economic return of Egyptian phosphate ore by using it in high-yield industries rather than exporting it as raw material.
Minister of Petroleum and Mineral Resources, Karim Badawi, led an inspection tour of the remote monitoring and control system (SCADA System) used to monitor liquified petroleum gas (LPG) distribution at Petrogas Company.
The Egyptian Tax Authority (ETA) announced limited amendments to the Value Added Tax (VAT), introducing a 10% tax on crude oil. However, this tax will not affect the price of local petroleum products, according to an ETA statement. This, noted the statement, is because the Egyptian General Petroleum Corporation (EGPC), the sole purchaser of crude oil in Egypt, has already included the new 10% tax among its expenditures for the new fiscal year starting July 1st.
Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilizers and Chemical Industries Co have gradually resumed operations of their plants following a temporary shutdown in recent days on the back of the government suspending the natural gas supplies to energy-intensive industries, according to disclosures sent by the two companies to the Egyptian Stock Exchange.
The Ministry of Petroleum and Mineral Recourses announced on Thursday the resumption of natural gas supply at normal levels to all industrial sectors. following Minister Karim Badawi visit to the main control center of the national natural gas network operated by the Egyptian Natural Gas Company (GASCO) in New Cairo. He oversaw natural gas flow regulation and the security of domestic supply across both the industrial and electricity sectors.
Shell and PETRONAS’ Burullus Gas Company brought the Siena DE development well online three days ahead of schedule. This achievement marks the first milestone in the eleventh phase of the West Delta Deep Marine (WDDM) project.
The fourth edition of the Egypt International Mining Forum is set to take place on July 15-16 at The Nile Ritz-Carlton in Cairo to explore the challenges, opportunities, and strategies needed to position Egypt as a leading global mining hub. It will host ministers, policymakers, major local and international companies, and investors leading the mining industry.Â
Minister of Petroleum and Mineral Resources, Karim Badawi, issued decisions appointing new leaders in the petroleum sector companies.
The offshore drilling rig Saipem 10000 completed sidetrack drilling operations at the Zohr-6 well, adding approximately 60 million cubic feet of natural gas per day (mmcf/d) to current production levels, according to a statement by the Ministry of Petroleum and Mining Resources (MoMPR).
This development aligns with MoMPR's strategy aimed at increasing domestic production and ensuring the coverage of the needs of different sectors from energy sources.
The Egyptian Natural Gas Holding Company (EGAS) has awarded six new blocks to several international companies to maximize exploration investments. The investments injected are estimated at $245 million, and at least 13 new exploratory wells are expected to be drilled during the exploration period. This is part of the Ministry of Petroleum and Mineral Resources' plan and strategy to attract new exploration investments and boost current production efforts.
