Saudi Arabia announced on Sunday it would extend oil supply cuts through June as part of a bid to prop up prices.
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Russia will cut oil production by almost half a million barrels per day in the second quarter of 2024, Deputy Prime Minister Alexander Novak said Sunday.
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Egypt signed seven Memoranda of Understanding (MOUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced.
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Egypt's President Abdel-Fattah El-Sisi met on Monday with BP CEO Murray Auchincloss on the sidelines of EGYPS 2024, where he lauded BP’s outstanding activities, the size and scope of its growing investments in Egypt, as well as its exploration projects in the oil and gas sector.
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President Abdel-Fattah El-Sisi underscored the financing difficulties faced by African countries, including Egypt, in meeting climate and energy transition commitments.
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The Abu Dhabi National Oil Company (ADNOC) pulled out from the process of bidding on Egyptian Wataniya Petroleum, just as the deal was nearing its final stages, sources close to the deal told Al-Borsa News on Sunday.
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UAE’s Abu Dhabi National Oil Company (ADNOC) and the global energy giant British Petroleum (BP) have agreed to form a gas joint venture (JV) to develop gas assets in Egypt, according to a statement on Wednesday.
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European countries show growing interest in Egypt's significant potential in renewable energy. Hence, Egypt can play a crucial role in supplying European markets with renewable electricity, contributing to environmental improvement, creating new job opportunities, and boosting economic growth and trade.
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President Abdel-Fattah El-Sisi affirmed Egypt's keenness to play a major role in the international clean energy transition, which will benefit Egypt at the economic and environmental levels.
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The world's second largest liquid natural gas (LNG) exporter QatarEnergy suspended LNG shipments via the Red Sea pending “security advice” due to the ongoing escalation in the Red Sea, posing a new challenge to Egypt’s Suez Canal given its close connection to the crucial international trade route.
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Oil prices surged four percent on Friday after US and UK forces launched strikes against Yemen's Houthis, fueling concerns about a wider conflict in the crude-rich region.
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A consortium led by the Saudi-listed water desalination company ACWA Power signed on Wednesday a usufruct agreement to invest $1.5 billion in a 1.1 MW wind project in Egypt, according to a statement by the Egyptian cabinet.
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The Egyptian Cabinet's Information and Decision Support Center (IDSC) Tuesday said Egypt ranked 22nd among 63 countries in the Climate Change Performance Index (CCPI) 2024, recording 61.8 points.
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Russia has redirected its oil exports from Europe to China and India, Deputy Prime Minister Alexander Novak said Wednesday, almost two years after Moscow was hit by Western sanctions over the Ukraine conflict.
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Egypt signed an agreement with Saudi Arabia’s utility developer ACWA Power to develop a green hydrogen project in the Suez Canal Economic Zone (SCZONE) with investments exceeding $4 billion, according to a Cabinet statement on Wednesday.
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Oil prices shot up three percent Monday as more companies suspended shipping through the Red Sea following attacks on vessels by Yemen's Iran-backed Houthi rebels.
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Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing the 2030 Sustainable Development Agenda emphasized on Tuesday his keen focus on global climate action.
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A pipeline connector between Serbia and Bulgaria that will reduce Serbia's dependance on Russian gas by giving it access to Azerbaijan exports was inaugurated Sunday, Serbia's state-run RTS television reported.
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The Swedish Energy Agency entered a $28.2 million agreement with the United Nations Development Programme (UNDP) to combat global carbon emissions and alleviate poverty in Africa, according to a statement by UNDP on Friday.
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Mahmoud Mohieldin, UN climate change high-level champion for Egypt, emphasized the significance of implementing debt swaps as a key mechanism to finance climate and development initiatives in developing countries.
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