Egypt needs around $20 billion annually to secure petroleum products, President Abdel Fattah El-Sisi highlighted on the sidelines of the celebration marking the 73rd anniversary of Police Day.

Drilling operations at the Zohr natural gas field will be resumed on January 28th or 29th, 2025, Claudio Descalzi, CEO of Italian company Eni, told Prime Minister Mostafa Madbouly.

Saudi Arabia-based Abdel Hadi Abdullah Al-Qahtani & Sons Company (AHQ) has signed two framework agreements with Egyptian petroleum companies.

The Egyptian Natural Gas Holding Company (EGAS) has agreed with Shell and bp to begin production from the Harmattan natural gas field in the Mediterranean Sea during the first quarter (Q1) of 2026, with initial investments estimated at $370 million.

Minister of Petroleum and Mineral Resources Karim Badawi has witnessed the signing of four memoranda of understanding (MoUs) and agreements between Egyptian entities and international firms to boost cooperation in operational safety, energy efficiency, and decarbonization.

The government is working on reformulating work plans to further enhance the petroleum sector’s performance and investment attractiveness, Minister of Petroleum and Mineral Resources Karim Badawi said.

The Egyptian Ministry of Petroleum and Mineral Resources, represented by the Egyptian Natural Gas Holding Company (EGAS), has discussed potential collaboration and investment opportunities in the petroleum sector with Greece’s Copelouzos Group.

Global petrochemicals producer Indorama Ventures is considering bolstering its cooperation with the Egyptian petroleum sector in the fields of green ammonia and feedstock manufacturing needed for making batteries and other industries.

Minister of Petroleum and Mineral Resources Karim Badawi met with the UAE Ambassador to Cairo Mariam AlKaabi to explore ways to bolster cooperation in various fields, particularly in the oil, gas, and mineral sectors.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla has met with the Ecuadorian Ambassador to Cairo Denys Amores to probe cooperation in the oil and gas industry.

Egypt has embarked on the process of settling outstanding payments owed to foreign companies engaged in petroleum projects.

Minister of Petroleum and Mineral Resources Tarek El-Molla met with the Ambassador of Bahrain to Cairo Fawzia bint Abdullah Zainal to discuss ways to enhance joint cooperation in the field of petroleum.

The Egyptian government intends to review petroleum subsidies for the upcoming fiscal year (FY) 2024/2025 budget, after hiking prices of all categories of gasoline and diesel, Minister of Finance Mohamed Maat said.

Agiba Petroleum is set to pump $500 million in investments in the Egyptian market during the upcoming fiscal year (FY) 2024/2025, Head Tharwat El Gendy announced during the company’s general assembly on March 20th.