Dana Gas Net Profits Surge in H1 2025, Driven by Strong Performance in Egypt and Iraq

• Monday, 11th August 2025
• by Fatma Ahmed

Dana Gas, one of the major natural gas companies in the Middle East,  reported a  1%  increase in net profits during the H1 2025,compared to the same period of last year to reach AED 270 million ($73 million) thanks to new investment momentum in Egypt and strong operation in Kurdistan Region of Iraq (KRI).

In a company press release on the results, Dana Gas highlighted the successful drilling of the first well in Egypt under its new investment program, with a successful outcome. In July, the company announced the successful drilling and completion of Begonia-2, the first of 11 planned wells, confirming 9 billion cubic feet (bcf) of gas reserves and expected production of 5 million standard cubic feet per day (mmscf/d).

Egypt’s Earns Place in CIF Climate Fund Program

• Monday, 11th August 2025
• by Sarah Samir

Egypt has been selected as one of only seven countries worldwide to benefit from the Climate Investment Funds (CIF) program—a recognition of the nation’s tangible efforts and serious steps toward transitioning to a green economy. The  Egyptian Cabinet highlighted this achievement through a series of infographics on its social media platforms, showing the country’s strategic direction toward promoting sustainable development, expanding clean energy use, and implementing environmentally friendly projects.

Madbouly Reviews Efforts to Boost Petroleum Stockpiles, Pay Arrears to International Oil Partners

• Monday, 11th August 2025
• by Fatma Ahmed

Egypt’s Prime Minister Mostafa Madbouly held a meeting with the Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, and Minister of Petroleum and Mineral Resources Karim Badawi, to review the ongoing efforts to ensure the availability of petroleum products and the status of the arrears owed to foreign partners in the petroleum sector.

Egypt Signs $490M Financing Deal for New Alamein Soda Ash Plant

• Monday, 11th August 2025
• by Sarah Samir

The Egyptian Soda Ash Company (ESAC) and several national and regional financing institutions signed an Agreement in Principle (AIP) for financing a Soda Ash production project for an estimated $490m. The ESAC project's goal is to produce 600,000 tons of soda ash and its derivatives annually within the industrial zone of New Alamein City.

WASCO Revives Abandoned Well, Boosts Gas Production, Reserves

• Sunday, 10th August 2025
• by Sarah Samir

A team from El Wastani Petroleum Company (WASCO) restored production from the Balsam-3 well, which had been slated for permanent abandonment, transforming the well from a candidate for abandonment into a natural gas producer. The well yielded approximately 5 million standard cubic feet of gas per day (mmscf/d), adding 4 billion cubic feet (bcf) of natural gas to the company's reserves.

Badawi Reviews Developments at Alamein’s El Hamra Petroleum Port, Mirroring UAE’s Al Fujairah

• Sunday, 10th August 2025
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), has paid a field visit at El Hamra Petroleum Port in the New Alamein City to inspect the ongoing development and expansion works. Following the model of the Fujairah Port in UAE, Egypt aims to transform El Hamra port as a pivotal hub and a logistics center for storing and handling crude oil and petroleum products on the Mediterranean coast.

MoMPR spokesperson:The Gas deal with Israel is Not New

• Saturday, 9th August 2025
• by Sherine Samir

Egypt has not signed a new agreement to import Israeli gas, clarified Moataz Atef, the Undersecretary for the Minister's Technical Office and Official Spokesperson of the Ministry of Petroleum and Mineral Resources, during a prime-time talk show on Friday night.

His comments came in response to media reports suggesting Egypt had entered a new $35 billion deal to import gas from Israel through 2040. Atef explained that this is not a new agreement, but rather an extension of an existing 2019 deal.

VAALCO’s Egypt Sales Exceeds $112 M in H1 of 2025

• Thursday, 7th August 2025
• by Sarah Samir

Oil sales from VAALCO Energy's Egyptian operations amounted to $112.844 million for the six months ending June 30, 2025. Meanwhile, net revenues from Egypt reached $67.177 million during H1 2025, according to a recent press release.

Egypt Secures 5 years of Gas Needs Through Regasification Units: Madbouly

• Thursday, 7th August 2025
• by Doaa Ashraf

Egypt has secured a stable and reliable system to meet its natural gas needs for the next five years in terms of floating, storage, and regasification units, Prime Minister Mostafa Madbouly stated during the Cabinet meeting on Wednesday.

Energos Force Begins Commissioning Trials at Aqaba Port

• Wednesday, 6th August 2025
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources, visited the Aqaba Port in Jordan for the trial run of the Floating Storage and Regasification Unit (FSRU) Energos Force, which is set to receive imported liquefied natural gas (LNG) shipments, regasify them, and inject the gas into the Arab Gas Pipeline. He was accompanied by Saleh El-Kharabsheh, Jordanian Minister of Energy and Mineral Resources.