- 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%
EGYPES 2026
Egypt To Take Centre Stage in Regional Energy Dialogue at EGYPES 2026
The ninth edition of the Egypt International Energy Conference and Exhibition (EGYPES 2026) will commence on March 30, and run until April 1 under the patronage of President Abdel Fattah El-Sisi, bringing together global leaders to shape the future of energy at a time where geopolitical tensions, supply chain infrastructure vulnerabilities and shifting energy alliances are redefining energy security. Considered the premier energy event in North Africa and the Mediterranean region, EGYPES aims to address this year the industry’s most pressing priorities, from regional stability and investment resilience to digital transformation, decarbonisation and the accelerating shift toward diversified, secure energy systems.
Egypt
Apache Makes New Natural Gas Discovery in Egypt
US Apache, in collaboration with the Egyptian General Petroleum Corporation (EGPC), has made a new natural gas discovery in the Western Desert. This achievement follows the drilling of the SKAL-1X exploratory well in the South Kalabsha area. This comes as part of the ongoing efforts to stimulate investment, boost domestic natural gas production, and reduce the import bill.
Arcius Energy
ARCIUS Energy, bp Start Offshore Gas Drilling in Mediterranean
ARCIUS Energy and bp are set to begin offshore gas drilling operations in the Mediterranean Sea, following the arrival of the drillship Valaris DS-12 in Egypt to support the development of new exploration wells.
Badawi: Egypt to Fully Settle IOC's Dues by June 2026
Egypt is working to settle all its outstanding dues to international partners in the oil and gas sector by the end of June, according to Karim Badawi, Minister of Petroleum and Mineral Resources. Badawi pointed out that the Ministry of Petroleum and Mineral Resources (MoPMR) has been working to gradually reduce the dues from about $6.1 billion on 30 June 2024 to $1.3 billion currently, with the necessary coordination in place to fully settle them by 30 June 2026. This comes in implementation of President Abdel Fattah El-Sisi’s directives to accelerate the settlement of partners’ dues, thereby strengthening confidence and encouraging the investment needed to increase domestic oil and gas production, and consequently reduce the import bill, noted a MoPMR statement.
Egypt
Renergy Group Plans $1 Bn Hyperscale Green Data Center in Sinai
Renergy Group has expressed interest in setting up a $1 billion hyperscale green data center in the El Tor area, Sinai Governorate. The facility will be integrated into the group’s broader $17 billion hybrid renewables project, according to a statement by the Ministry of Investment and Foreign Trade. This came during a meeting between Mohamed Farid Saleh, Minister of Investment and Foreign Trade and Robert Falk, CEO of Renergy Group Consortium, to discuss developments in the hybrid renewables project. Combining green hydrogen, solar power, and energy storage batteries, as well as a hyperscale green data center, the project is Egypt’s largest green energy plant.
Arctic Barents Sea
Equinor Makes New Oil Discovery in Barents Sea
Norway’s Equinor and its partners Vaar Energi and Petoro have announced a new oil discovery in the Norwegian sector of the Arctic Barents Sea. The find is located around 16 km from the Johan Castberg field, one of Norway’s key offshore developments in the region.
Petrojet
PETROJET’s New Contracts Rise to EGP 121 Bn in FY 2025
The Petroleum Projects and Technical Consultations Company (PETROJET) secured local and international contracts with a total value of EGP121 in Egypt and international markets in 2025, compared to EGP 112 billion in 2024, Chairman Waleed Lotfy told the company’s general assembly meeting. Lotfy said the company continued to strengthen its position as a global contractor for project execution despite global and regional challenges, geopolitical volatility, and exceptional conditions affecting the contracting industry.
Macquarie Group
Macquarie Pulls Out of Kuwait Pipeline Bid as Gulf Tensions Rise
Australia’s Macquarie Group has pulled out of a planned bid for a stake in Kuwait’s oil pipeline network, in a deal valued at up to $7 billion, according to sources familiar with the matter, as geopolitical tensions weigh on investor sentiment in the Gulf.
