Egypt

Egypt signs $1.5 billion financing agreement with ITFC, CNBC Arabia reports

Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation to fund its trading, including imports of energy products and essential commodities, CNBC Arabia wrote on Twitter, citing the head of the corporation.

Egypt, Azerbaijan to Boost Bilateral Energy Cooperation

Minister of Petroleum and Mineral Resources Tarek El Molla met with Elkhan Polukhov, Ambassador of Azerbaijan in Cairo, to discuss ways of joint cooperation between the two countries and investment opportunities available in the field of oil, gas, and green energies in Egypt, in addition to the possibility of exchanging experiences between the two sides in these fields, the ministry said in a statement.

Sisi discusses plans to make Egypt a regional gas hub with Eni CEO

Egypt’s President Abdel-Fattah El-Sisi reviewed on Monday with Italian Eni CEO Claudio Descalzi the company’s plans for the exploration and production of gas in Egypt amid the country’s plans to become a regional energy hub, the Egyptian presidency said.

Egypt spends EGP 1.6bn to develop electricity networks in Sinai

Egypt invested a total of EGP 1.60 billion to develop electricity distribution networks in North Sinai during the period from July 2014 until the end of December 2022.

Eni announces new gas discovery offshore Egypt

Italian energy group Eni (ENI.MI) said on Sunday it had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea.

Wintershall Dea made a natural gas discovery in the East Damanhour exploration block

Wintershall Dea has found gas in its East Damanhour exploration block in the onshore Nile Delta.

AD Ports reportedly in talks to develop Egypt’s Suez Port

AD Ports Group is in talks with Egypt government to develop and operate the Suez Port, known as Port Tawfiq, as per a usufruct contract, Asharq Business reported.

Egypt: Apex acquires interests in six concessions in Western Desert

Apex International Energy has acquired interests in four concessions in the Western Desert oil producing region of Egypt from IEOC Production, a unit of Eni. Two additional concessions will be acquired by Apex after parliamentary approval of extensions, which is expected in the first quarter of 2023.