Ataqa’s profits near EGP 235m in 2022

Misr National Steel (Ataqa) generated net profits after tax worth EGP 234.72 million in 2022, an annual surge from EGP 100.44 million.

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Elsewedy Electric posts EGP 5.75bn consolidated profits in 2022; dividends unveiled

Elsewedy Electric Company logged consolidated net profits after tax worth EGP 5.75 billion in 2022, an annual leap from EGP 3.86 billion, including non-controlling equity.

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Saudi Arabia’s Bahri inks deal with Egypt’s Suez Canal Authority to establish maritime transport cooperation

Saudi Arabian national shipping company Bahri has signed a memorandum of understanding with the Suez Canal Authority to create an Egyptian joint-stock company for maritime transport.

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Egypt Launches International Bid Round for 8 Brownfields in Gulf of Suez, Eastern Desert

Minister of Petroleum and Mineral Resources Tarek El-Molla announced that the Egyptian General Petroleum Corporation (EGPC) has launched the first international bid round of its kind for the development of brownfields through the Egypt Upstream Gateway (EUG).

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Egypt raises gasoline prices in quarterly review

Egypt raised domestic gasoline prices early on Thursday, bringing them more in line with global levels but risking further public discontent after a year of rising inflation, a weakening currency and a series of austerity measures.

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Egypt: United Oil and Gas provides update on the ASH-8 development well

AIM-listed United Oil & Gas has announced an update on the drilling of the ASH-8 development well 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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Kuwait Energy Egypt inks Concession Agreement for Borg Al Arab in the Western Desert

Kuwait Energy Egypt and the Egyptian General Petroleum Corporation have signed a concession agreement to pump new investments in the developing and exploiting Borg Al Arab Area in the Western Desert.

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Chevron Signs MOU with Egypt on Methane Management

Chevron New Ventures PTE. LTD. (Chevron) and the Egyptian Ministry of Petroleum and Mineral Resources (MOPMR) have signed a memorandum of understanding (MoU) to share best practices and expertise related to the reduction of methane emissions.

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