Egypt

Egypt raises estimates for crude oil prices for FY2023/24

Published on : 2024-02-12

Egypt has raised its estimates for Brent crude oil price by 6.25% in the current fiscal year’s (FY) budget to $85 per barrel, as per the country’s economic indicators semi-annual report.

Earlier in December, it was reported that the government raised the petroleum products targeted subsidy by 9% for this FY to EGP 130 billion.

This came on the back of the devaluation of EGP against USD and its impact on monthly import costs.

Egypt Buys Immediate LNG Shipment, Eyes Monthly Imports

The Egyptian Natural Gas Holding Company (EGAS) has secured a new immediate liquefied natural gas (LNG) shipment

Egypt, Italy probe cooperation in petroleum, renewable energy fields

According to a statement on April 22nd

Shell Egypt and Partners Launch 11th Phase Development in Nile Delta Offshore Concession

Shell Egypt, along with partners EGAS, EGPC, and Petronas, have agreed to commence the 11th development phase in Egypt Nile Delta offshore West Delta Deep Marine (WDDM) concession in the Mediterranean Sea.