Minister of Petroleum and Mineral Resources, Karim Badawi, held a discussion session with Sam Dabbous, President & Chief Operating Officer of the IPR Group. The meeting reviewed the company's business and activities in its concession areas in the Western Desert and the Gulf of Suez, as well as its plans to increase oil and gas production rates and develop aging fields.
The Chairman of Alexandria Mineral Oils Company (AMOC) Amr Lotfy has announced that the company has achieved net profits in its consolidated financial statements reaching EGP 1.699 billion, while it recorded increase in its separate statements by EGP210 million reaching to EGP1.275 billion during the fiscal year (FY) 2023/24.
There is no question that when it comes to Egypt’s potential to harness and transport natural gas, Egypt has exceeded expectations of the international oil and gas community. In order for Egypt to remain on top, storage solutions for the transitional fuel is imperative.
Ever since the global community announced its commitment to significantly lower emissions, the future of fossil fuels has often been questioned, with some raising serious doubts about its viability as an energy source for the future. Global conditions and expert opinions prove quite the contrary, especially regarding natural gas. Natural gas is practically the fuel the international community needs to propel itself into creating a low-carbon economy around the world and by almost all accounts, it will be an integral part of a low-carbon economy once it is fully established. Though climate goals have always been ambitious, an element of realism is required for the energy transition to become a complete success.
TotalEnergies has commenced production at the Fenix gas field, located 60 km off the coast of Tierra del Fuego in Southern Argentina.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Cederic Cremers, Executive Vice President of LNG at Shell, to discuss the status of Shell's business and projects in Egypt in the Mediterranean, Red Sea and Western Delta regions.
Equinor has announced the arrival of the floating production, storage and offloading vessel (FPSO) on the Johan Castberg field in the Barents Sea.
AngloGold Ashanti will acquire Centamin, an Egypt-focused gold mining company, in a $2.5 billion stock and cash deal. This acquisition will expand AngloGold Ashanti's operations in Africa, a region rich in gold resources, Reuters reported.
Methanex Egypt kicked off the second phase of its partnership with the International Labour Organization (ILO), part of the “Decent Jobs for Egypt’s Young People” (DJEP) project by celebrating five winners among 115 women who completed the “Get Ahead for Women in Enterprise” training last month.
Canadian methanol producer Methanex has signed a $2.05 billion deal to acquire Dutch green fuel-maker OCI Global's methanol business.
