Apex International Energy (Apex) announced a new oil discovery in Southeast Meleiha Concession (SEM), located in the Western Desert of Egypt.

Egypt planned to supply natural gas to more than 60 new regions, which already supplied to 34 regions of them at the beginning of the fiscal year (FY) 2020/21.

The President Abdel Fattah Al-Sisi directed to establish an integrated city for gold industry in Egypt to reflect its ancient history, according to the Spokesman of Egyptian the Presidency, Bassam Radi.

Egypt allocated investments with EGP 5 billion to the General Petroleum Company (GPC) to increase drilling exploration and development wells.

The General Manager of Centamin Egypt, Youssef El Raghy, announced that Egypt received a total amount exceeding EGP 930 million from Sukari gold mine, since the start of operation until the last of December 2020.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, witnessed the signing of an agreement with the International Islamic Trade Finance Corporation (ITFC) to provide integrated financing solutions to all Egypt's sectors for 2021 worth $1.1 billion. This was in the presence of Hala El Said, the Minister of Planning and Economic Development, Ali Al-Moselhi, the Minister of Supply and Internal Trade, Rania Al-Mashat, the Minister of International Cooperation (MOIC), and Neveen Gamea, the Minister of Trade and Industry via video conference.

Egypt will implement new projects to develop and raise the efficiency of national network of pipelines for transporting petroleum products and expanding network lines in an efficient and easy manner.

A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.

SDX Energy Company produced first natural gas at South Disouq SD-12X well in Egypt on 21 December 2020, six weeks ahead of schedule.

The Egyptian automatic fuel pricing committee decided to keep the prices of fuels and petroleum products unchanged Q1 2020 among the domestic market.