Egypt

Egypt to expand production from largest Mediterranean gas field

The Egyptian authorities will invest 1.2 billion dollars in the next fiscal year 2023-2024 in the Zohr gas field, the largest located in the Mediterranean Sea.

EGYPS 2023 Conference Highlights Egyptian Role as an Important Strategic Hub

Christopher Hudson, President of dmg Events, confirmed that the Egypt Petroleum Show (EGYPS 2023) in its sixth edition, has global prominence, and highlights Egypt leadership role as an important strategic hub.

Egypt Sign New Natural Gas MoU with Romania

Prime Minister Mostafa Madbouly and his Romanian counterpart Nicolae Chuca witnessed the signing of a memorandum of understanding (MoU) between the Egyptian Natural Gas Company (EGAS) and Transgaz, the official operator of the natural gas transportation network in Romania, to enhance joint cooperation in the field of natural gas transportation, the Cabinet announced.

Egypt to move three super-sized distillation towers to Western Desert to boost gas production

Egypt will move three super-sized distillation towers to the Western Desert gas complex to boost its daily gas production capacity, by adding a fourth production line with a capacity of 600 million cubic feet per day, the Suez Canal Economic Zone (SCZone) said in a statement on Wednesday.

GUPCO to Invest $588M and Drill 11 Development well During 2023

Chairman of Gulf of Suez Petroleum Company (GUPCO) Salah Abdel Kareem stated that his company has a plan to invest $588 million during the fiscal year (FY) 2023/24 to enhance petroleum production rates to reach 70,000 barrels per day (bbl/d).

Abu Qir Fertilizers’ profits hike to EGP 7.23bn in H1-22/23 unaudited financials

Abu Qir Fertilizers achieved net profits after tax worth EGP 7.23 billion in the first half (H1) of fiscal year (FY) 2022/2023, higher by 125.86% than EGP 3.20 billion during the same period in the previous FY.

Egypt’s Suez Canal nets $8bn in new annual record

Suez Canal Authority announced Wednesday an all-time annual revenue record, earning $8 billion in transit fees in 2022, as the country balks under a worsening economic crisis.

Egypt’s chemicals exports grow 23% in 2022

Egypt exports of chemicals and fertilisers jumped by 23% during 2022 to $8.62 billion from $7.33 billion in 2021, the Middle East News Agency (MENA) cited Egypt’s Chemical and Fertilisers Export Council.