News / Egypt

Energean Determined to Close Egypt, Italy, Croatia Asset Sale Despite Regulatory Delays

Energean provided on Monday an update of its portfolio sale in Egypt, Italy, and Croatia to Carlyle International Energy Partners, stating that there is a significant risk that the agreement may be terminated. Certain regulatory approvals in Italy and Egypt have not yet been obtained or waived by Carlyle. 
Energean said that it has no assurance that such conditions will be satisfied on or before 20 March 2025 following the terms of the binding Sale and Purchase Agreement (SPA) signed on 19 June 2024. Additionally, the company has not been able to reach an agreement with Carlyle to extend the longstop date beyond 20 March 2025.

Egypt, OCIOR Energy Discuss Boosting Clean Energy Investments

Within the framework of his current visit to India, Hassan El-Khatib, Minister of Investment and Foreign Trade, met with Ranjit Gupta, the Founder and CEO of OCIOR Energy, to discuss ways to enhance cooperation in the field of clean energy and sustainable investments in Egypt.

SUMED Boosts Paid-In Capital to $600 Million, Showcasing Strategic Investment Vision

The Arab Petroleum Pipelines Company (SUMED) successfully increased its paid-in capital by $400 million to reach $600 million through conscious strategic management, meticulous planning, and an investment vision.

Egyptian President Reviews Oil, Gas Projects with Madbouly, Badawi

President Abdel Fattah El-Sisi met on Sunday with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Karim Badawi, to address the status of the new exploration and drilling activities, particularly in the Fayoum 5 oil and gas field in the King Mariout area, to enhance Egypt's oil and gas reserves.

Petroleum Sector Contributes to Rehabilitating Three Villages in Alexandria

In alignment with Egypt's petroleum sector's social responsibility strategy and its commitment to community development, the Ministry of Petroleum and Mineral Resources (MoPMR) has inaugurated the development and rehabilitation projects of the villages of Aleppo, Khaled bin Al-Walid, and Abu Masoud in Alexandria. Amerya Petroleum Refining Company (APRC), Egyptian Projects Operation and Maintenance (EPROM) Company, in cooperation with the Orman Association have raised the efficiency and developed 64 households, where reconstruction and furnishing work were carried out in these villages along with providing their inhabitants sustainable sources of income through 12 heads of cattle and 30 small projects.

Petroleum Sector Celebrates Half a Century of Success for Abu Madi Field in the Nile Delta

Under the patronage of Minister of Petroleum and Mineral Resources Karim Badawi, the workers at the Abu Madi site in the Nile Delta celebrated the golden jubilee marking 50 years of oil and gas contribution to the Nile Delta fields region.

Egypt, Norway Review Future Plans for Green Ammonia Collaboration

Minister of Petroleum and Mineral Resources Karim Badawi met with Hilde Klemetsdal, Norway's Ambassador to Egypt; Terje Pilskog, CEO of the Norwegian company Scatec, and the accompanying delegation.

Vaalco Energy Reports $272.613M in Oil Sales in Egypt in 2024

In 2024, Vaalco Energy oil sales from Egypt dropped by around 7.9% Year-on-Year (YoY), reaching $250.946 million, compared to $272.613 million in 2023. Net revenues decreased by about 9.37% recording $145.966 million in 2024, compared to $ 161.049 million in 2023.

Egypt, Excelerate Energy Discuss LNG Cooperation

As part of his participation in CERAWeek 2025, Karim Badawi, Minister of Petroleum and Mineral Resources, held a meeting with Steven Kobos, CEO of Excelerate Energy, to explore cooperation in technology and expertise transfer in the field of liquefied natural gas (LNG).

Badawi Shares Insights Regarding Energy, Economy in Africa Forum

Minister of Petroleum and Mineral Resources Karim Badawi participated as a keynote speaker at the ‘Energy and Economy in Africa’ forum, chaired by US Secretary of Energy, Chris Wright.

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