- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
Petrochemicals
ASP Secures $140 Mn Financing for Silicon Metal Complex Following Golden License Grant
Alamein for Silicon Products Company (ASP) has signed a long-term joint financing agreement worth $140 million to launch the first phase of the Silicon Metal Production and Derivatives Complex. Established under the Egyptian Petrochemicals Holding Company (ECHEM), the project is a centerpiece of Egypt’s strategy to localize high-value industries. The industrial complex, which was recently granted the Golden License by the Egyptian Cabinet to expedite construction and operations, represents a total initial investment of $200 million for its first phase.
Egypt-Lebanon natural gas supply MoU
Badawi Updates PM on Gas Projects, Sector Developments
The Ministry of Petroleum and Mineral Resources (MoPMR) has completed 90% of the planned works to connect natural gas to households under the presidential Decent Life initiative. During a meeting with Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi confirmed that efforts are being accelerated to finalize the rural infrastructure projects in alignment with the national development timetable.
Mining
Ministries of Petroleum and Public Business Sector Partner to Advance Mining Projects
Minister of Petroleum and Mineral Resources, Karim Badawi, and Minister of Public Business Sector, Mohamed Sheimy, held a high-level meeting at the petroleum ministry’s headquarters in the New Administrative Capital to finalize a framework for integrated industrial development. The meeting focused on maximizing the economic returns of Egypt’s mineral wealth and accelerating energy infrastructure for the national textile modernization project, according to a statement by the Ministry of Public Business Sector.
Sidi Kerir Petrochemicals company (Sidpec)
Sidpec to Inject EGP 5.6 Bn in Strategic 2026 Investment Budget
Sidi Kerir Petrochemicals Company (Sidpec) approves the allocation of EGP 5.68 billion for new investments and affiliated company partnerships. This financial roadmap was unveiled in a disclosure to the Egyptian Exchange (EGX) on December 29, 2025, following a Board of Directors meeting held the same day to finalize the company's estimated capital budget for the 2026 fiscal year.
China
Bao to PetroCast: NPIC Dedicates $100 million for Unlocking New Opportunities
North Petroleum International Company (NPIC), a subsidiary of China’s state-owned Zhenhua Oil Company, plans to boost production through the optimization of existing assets and the acquisition of new concessions. During an episode of the Ministry of Petroleum and Mineral Resources’ podcast, PetroCast, NPIC Country Manager and Director Sun Bao confirmed that the company is intensifying its footprint in Egypt to unlock further potential within the nation's mature and frontier basins.
polyethylene plant
Egypt Gas Targets EGP 420 Mn Net Profit in 2026 Budget
Egypt Gas has unveiled its estimated budget for the 2026 fiscal year, targeting a net profit after tax of EGP 420 million. The company’s financial roadmap, disclosed to the Egyptian Exchange (EGX), focuses on expanding natural gas delivery networks to residential and industrial sectors while optimizing operational efficiency to support the national economy.
Kamel Al-Sawi
UEE Drills 30 Wells in 2025, Increasing Egypt’s Production by 20%
The United Energy Egypt (UEE) has drilled around 30 wells in 2025, which successfully offset natural reservoir decline and increased oil production by more than 20%, according to Kamel Al Sawi, Regional President of UEE, in an interview with PetroCast. The production surge follows a strategic expansion of the company’s footprint and the implementation of aggressive drilling schedules to maximize asset recovery.
Deir Ammar Power Plant
Egypt, Lebanon Sign MoU to Supply Gas to Deir Ammar Power Plant
The Ministry of Petroleum and Mineral Resources has signed a Memorandum of Understanding (MoU) with the Lebanese Ministry of Energy and Water to supply natural gas to Deir Ammar Power Plant in Lebanon for electricity generation. This came during Karim Badwi, Minister of Petroleum and Mineral Resources' visit to Lebanon and deepening bilateral relations on the oil and gas front.
