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Oil and Gas

Chevron discovers offshore gas field holding est. 3.5trn cubic feet of gas

Chevron announced the discovery of the new gas well “Narges-1X” located in the Narges area off the coast of North Sinai, near Al-Arish

Egypt ready to provide some of Europe’s demand for natural gas | PetroleumMin

Efforts made over the past few past years have made of Egypt one of the solutions to the ongoing energy problem, the minister pointed out

Around 40% of total public investments in FY2022/2023 were green investments | IDSC

President El-Sisi stated in September that Egypt is looking to increase its percentage of green investments to 50% of the country’s total public investments by FY2023/2024

Egypt’s petroleum and gas sector sees 7 MoUs signed on sidelines of COP27

The MoUs are in line with the Ministry’s efforts to improve the oil and gas industry’s carbon-cutting capabilities, as well as boost its environmental sustainability

Trade deficit sees uptick of 0.6% to reach $4.18B in August 2022 | CAPMAS

In Q2 of 2022, the country’s current account deficit fell by almost half as non-oil imports tumbled by nearly 20% from the previous quarter