The Ministry of Petroleum

  • Egypt Signs 4 Gold Mining Contracts

    Egypt Signs 4 Gold Mining Contracts

    Monday, 12th July 2021

    Minister of Petroleum, Tarek El Molla, witnesses the signing of 4 new gold mining contracts, worth $17 million, for 15 new concessions.

  • Iran’s NISOC to Boost its Oil Production

    Iran’s NISOC to Boost its Oil Production

    Sunday, 30th May 2021

    The National Iranian South Oil Company (NISOC) aimed to boost its oil production which has about 351 billion barrels of proven crude oil in its reservoirs, which equates to nearly 100 billion barrels of recoverable oil at a 28% average recovery rate, NISOC’s CEO, Ahmad Mohammadi, stated, according to a NISOC’s press release.

  • Egypt Invests EGP 1 T in Upstream Projects

    Egypt Invests EGP 1 T in Upstream Projects

    Monday, 26th August 2019

    The Ministry of Petroleum invests one trillion Egyptian pounds in the Oil and Gas production projects and EGP 460 billion in petrochemicals and refining projects.

  • Raven Gas Field to Produce Up To 900 mcf/d

    Raven Gas Field to Produce Up To 900 mcf/d

    Wednesday, 21st August 2019

    The petroleum sector initiates the production in Raven Gas Field in North Alexandria concession next September, with an estimated maximum gas production capacity between 850 and 900 million cubic feet per day (cf/d).

  • Zohr Production Reaches 2.7 bcf/d

    Zohr Production Reaches 2.7 bcf/d

    Wednesday, 21st August 2019

    Tarek El Molla, the Minister of Petroleum, announced that the production capacity of Zohr gas field has raised to 2.7 billion cubic feet per day (bcf/d), five months before the scheduled date.

  • Egypt Cuts IOCs Arrears by 80% in 6 Years

    Egypt Cuts IOCs Arrears by 80% in 6 Years

    Sunday, 16th June 2019

    Minister of Petroleum and Mineral Resources Tarek El-Molla revealed that Egypt has successfully decreased foreign partners' arrears by more than 80% between 2012 and 2018.

  • Sino Tharwa Halted Project in West Minya

    Sino Tharwa Halted Project in West Minya

    Wednesday, 8th February 2017
    The 1.5m acre project in West Minya has stopped temporarily until completing the transfer of the responsibilities of the project from the Ministry of Water Resources and Irrigation to Egyptian countryside Development Company.
  • Egypt Raised Pump Prices

    Egypt Raised Pump Prices

    Friday, 4th November 2016
    The Egyptian Ministry of Petroleum increased petrol price early November in a move to alleviate fuel subsidy expenditure within the country's economic reform program. The government has implemented the new prices upon announcing the change.
  • Egypt Received $1.2b in Oil from Aramco

    Egypt Received $1.2b in Oil from Aramco

    Wednesday, 2nd November 2016
    Since May 2016, Egypt has received oil cargos from Saudi Aramco worth $1.2b. Egypt received 700,000t of petrol every month for the last 4 months.
  • Egypt Owes EGP 200b to EGPC

    Egypt Owes EGP 200b to EGPC

    Monday, 10th October 2016
    The Egyptian General Petroleum Corporation (EGPC) has EGP 200b unpaid dues from government ministries and state-owned institutions for providing them with petroleum products and derivatives.