The decline in natural gas production was partly attributed to operational challenges at Egypt's largest gas field, Zohr in Port Said, where output has reportedly dropped by one-third since 2019
Egypt raised its estimate of the price of a barrel of oil in the current fiscal year budget by about 6.25% to $85, according to the semi-annual report on economic performance.
Badawi also emphasized that these efforts are pivotal to Egypt's sustainable development strategy, reflecting a proactive stance on climate action and energy transition
Egypt’s oil and natural gas consumption is approximately $55 billion annually to meet the needs of the country’s citizens, explained Madbouly on Monday in a post-tour press conference
Earlier in the beginning of 2023, Chevron announced its the exploration of the Nargis1 field in the eastern of Mediterranean Sea in Egypt.
