Egypt

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.

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.

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.

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).

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.

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.

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.

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.