Egypt

AMOC profits jump to EGP 762m

The wave in rising oil prices globally led to a big jump in Alexandria Mineral Oils Company (AMOC) business results indicators as a result of the turmoil resulting from the Russian-Ukrainian war, with the country recording EGP 762m in consolidated net profits over the past nine months, up from EGP 103m during the same period last year — a growth rate of 638%.

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Egyptian Fuel Exports Grew to $1.24 Billion

According to the data of the Central Agency for Public Mobilization and Statistics, crude oil exports rose to $278 million, compared to $167 million, during the comparison period, an increase of $111 million, equivalent to 66.5%.

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Egypt hikes fuel prices amid global inflationary pressures

The Egyptian government increased fuel prices by nearly three percent on Friday, as global inflationary pressures spike in the wake of Russia war on Ukraine.

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Eni Makes Oil And Gas Discoveries In Egypt Western Desert

Italian oil major Eni has made new oil and gas discoveries in the Meleiha concessions in Egypt Western Desert, for approximately 8,500 barrels per day of oil equivalent.

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Egypt to maximise gas production and LNG exports to Europe following deal with Eni

Italian oil and gas company Eni and Egypt EGAS have agreed for the latter to increase the production and supply of gas to Europe.

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Egypt, Jordan discuss cooperation in natural gas delivery projects

El-Molla reviewed Egyptian experiences in delivering natural gas to homes and their success in covering more than 13.5m housing units with natural gas after doubling the delivery rate to 1.2m housing units annually during the last four years

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TGS, Schlumberger set for second 3D seismic survey offshore Egypt

Norwegian seismic player TGS has announced a new 3D seismic survey in the Egyptian Red Sea, to be conducted in partnership with Schlumberger. The survey represents the second phase of new acquisition for the partners in this region and will encompass a minimum of 5,000 square kilometers.

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Petrojet Revenues Reach EGP 34.2bln in 2021

The company also achieved an unprecedented volume of contracts worth EGP 60 billion during 2021, an increase of 13.2% from 2020, and the contracts included projects inside Egypt worth EGP 58.2 billion and contracts outside Egypt worth EGP 1.8 billion, in addition to the success in securing a business volume with a total value of EGP 75 billion. These projects include ongoing ones from previous years and new bonds covering up to 2026.

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