Suez Canal revenues jump 35% in Q1-23

Suez Canal posted a 35% year-on-year (YoY) hike in revenue to $2.30 billion during the first quarter (Q1) of 2023, according to the navigation traffic report reviewed by Abdel Fattah El-Sisi, President of Egypt.

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Egypt’s national oil company taps DNV to set net-zero targets

Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, has selected Norway-based independent assurance and risk management provider DNV to set science-based targets for its net-zero strategy.

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Egypt launches bid for gold exploration in Eastern Desert

This will be done via state-owned Shalateen Mineral Resource Company (SMRC), with the bidding open until from Monday 10 August.

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Egypt: United Oil and Gas announces Egypt operations update

AIM-listed United Oil & Gas has provided an update on operations in the Abu Sennan licence, onshore Egypt. United holds a 22% non-operating interest in the Abu Sennan licence, which is operated by Kuwait Energy Egypt.

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IsDB approves $345m for Egypt’s electric train project

The Islamic Development Bank on Saturday approved $403 million for different projects in member countries, the bank said in a statement.

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Egypt: Cheiron Energy brings GNN oil field Early Production Facility on stream

Cheiron Energy, the largest independent Egyptian oil and gas E&P company, has announced that the Early Production Facility for the GNN oil field in the Gulf of Suez has been brought on stream.

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Schneider Electric carries out digital transformation plans in Egypt’s petroleum sector

The plans come within the framework of a project to develop the petroleum sector, which will contribute to boosting the efficiency of operations

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Mopco achieves EGP 7.25bn consolidated profits in 2022

The consolidated net profits after tax of Misr Fertilizers Production Company (Mopco) amounted to EGP 7.25 billion in 2022, an annual hike of 51% from EGP 4.79 billion, including minority interest.

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