Business - Energy

Egypt to develop ‘detailed roadmap’ to cut methane emissions: Petroleum minister

Egypt is set to develop a “detailed roadmap” to reduce methane emissions, the country’s Minister of Petroleum and Mineral Resources Tarek El-Molla said at the COP28 climate summit in Dubai.

Egypt signs agreements for three green energy projects at COP28

The Egyptian Suez Canal Economic Zone (SCZONE) and the Ministry of Electricity and Renewable Energy signed agreements with Norwegian energy company Scatec, and a group of international financial institutions including the African Development Bank (AfDB) and British International Investment (BII) to launch three green energy projects in Egypt.

Egypt, Norwegian Scatec sign $1.1 bln MoU for ships green fuel project in East Port Said

Egypt has signed a memorandum of understanding (MoU) with the Norwegian company Scatec ASA to supply ships with green fuel in East Port Said, with investments worth around $1.1 billion.

Green Climate Fund's second replenishment surpasses $12 bln with contributions from 29 countries: Mohieldin at COP28

Mahmoud Mohieldin, UN climate change high level champion for Egypt, announced the success of the second replenishment of the Green Climate Fund (GCF), which he coordinated in his capacity as climate champion for COP27, by raising the financing to $12.4 billion after 29 countries announced their contributions to the fund financing.

Saudi Arabia, Russia to extend voluntary oil cut

Saudi Arabia and Russia announced separately on Thursday that they will voluntarily cut their oil production.

Dana Gas to invest $43 million in drilling new wells in Egypt

Emirati energy company Dana Gas announced plans to invest an additional $43 million in its operations in the Egyptian market over the coming year, according to CEO Richard Hall on Wednesday.

Emirati-designated COP28 leader forcefully denies report UAE wanted to seek oil deals in summit

The Emirati president-designate for the upcoming United Nations COP28 climate talks forcefully denied Wednesday a report alleging his nation planned to use the summit to strike oil and gas deals, a day before the summit was due to begin.

Oil slumps as OPEC+ delays summit, stocks rise

Oil prices slumped Wednesday as traders took a delay to an OPEC+ summit meeting as a sign of possible discord, while European and US stocks rose on hopes of an end to the US Federal Reserve's interest rate-hiking cycle.

Fertiglobe exports world’s first certified green ammonia from Egypt

Multinational ammonia exporter Fertiglobe announced that it completed the first shipment of the world’s first internationally recognized renewable ammonia with International Sustainability and Carbon Certification from its plant in Egypt.

Egypt, Belgium sign MoU to export renewable energy to Europe

The Egyptian Electricity Transmission Company (EETC) and Belgium’s Jan De Nul signed a memorandum of understanding (MoU) to study a project to export renewable energy to Europe, according to a cabinet statement on Thursday.

Oil prices rebound globally as demand outlook strengthens: Report

Crude prices rallied this week after posting their steepest drop in over three months, rebounding on brighter consumption forecasts from OPEC and the International Energy Agency (IEA), according to a report by the Kuwaiti asset management company Kamco Invest on Wednesday.

Chevron announces resumption of gas flows to Egypt

US energy giant Chevron has resumed natural gas flows through the East Mediterranean Gas (EMG) pipeline from Israel to Egypt, the company announced on Tuesday.

High-level dialogue session in Cairo propels sustainable energy agenda

In the ongoing series of high-level policy dialogues, jointly organized by the Centre for Environment and Development for the Arab Region and Europe (CEDARE) and Friedrich-Ebert-Stiftung’s office in Egypt, a pivotal session on "financing energy transition" was held in Cairo this week.

Siemens Energy gets state-backed 15-bn-euro rescue package

Siemens Energy will get a 15-billion-euro ($16-billion), state-backed rescue package, Berlin said Tuesday, as it battles a crisis in its wind power unit.

China fuels increase in global oil demand: IEA

World oil demand will rise slightly more than expected this year as China's appetite for the fossil fuel hit a record and Israel's war in Gaza did not hit supply flows, the International Energy Agency said Tuesday.

Subsidiary of Egyptian energy TAQA Arabia opens first natural gas station in Tanzania

TAQA Dalbit, a subsidiary of Egyptian energy company TAQA Arabia, opened in Tanzania the country’s first natural gas fueling station and conversion centre for vehicles, according to a bourse statement on Sunday.

COP27 and COP28 insights by Mohieldin: Mobilizing funding for climate action vs. accelerating just energy transition

Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt, highlighted the contrast between COP27 and COP28, indicating that COP27 focused on mobilizing funds for climate action, while COP28's primary emphasis is on speeding up the just energy transition to achieve emissions reduction targets.

Egypt raises fuel prices for the second time in 2023

The Ministry of Petroleum announced on Friday that it is raising fuel prices for various octanes while keeping diesel prices unchanged.

6th Int'l Solar Alliance assembly puts focus on boosting global investment

The sixth assembly of the International Solar Alliance (ISA) launched yesterday in New Delhi with the participation of ministers from 20 countries and delegates from 116 ISA member countries, including Egypt.

Egypt, Mitsubishi expand cooperation to upgrade two power plants

Egypt has signed an agreement with the Japanese Mitsubishi Power Company to develop the Sidi Krir and El-Atf power plants, according to a statement by the company on Tuesday.

 1 2 3 4 5