Category: News

Egypt has entered a new phase of offshore gas exploration with the arrival of the Valaris DS-12 in its territorial waters, marking the start of a drilling programme targeting four new wells in the Mediterranean Sea. The advanced drillship is set to begin operations with one production well and one…

Oil prices fell toward $88 per barrel and global liquefied natural gas exports sank to a six-month low on Monday after US President Donald Trump said Washington was engaged in productive talks with Iran and had ordered a five-day delay to any military strikes on Iranian power stations and energy…

Egypt has recovered state assets valued at EGP 1.2bn and generated an additional EGP 1.4bn in treasury revenues, Finance Minister Ahmed Kouchouk said on Monday, citing efforts led by the Asset Recovery and Seizure Management Authority. In a statement, Kouchouk said the government is working to unlock new investment opportunities…

As tensions escalate across the Middle East and the Strait of Hormuz faces effective closure following US and Israeli strikes on Iran, Saudi Arabia has activated a long-standing contingency plan to keep its oil flowing—deploying a decades-old pipeline that is now emerging as a critical lifeline for global energy markets,…

Minister of Finance Ahmed Kouchouk stressed that the current priority is to secure sufficient and sustainable financial resources to meet citizens’ basic needs. He noted the ongoing coordination with all state entities to guarantee the availability of food commodities in the markets and secure energy sources. Kouchouk stated, during his…

International energy consultant Mamdouh Salameh warned that the ongoing closure of the Strait of Hormuz—even for a brief period—will trigger a massive surge in oil prices, predicting that Brent crude could exceed $120 per barrel within days. Speaking to Al Qahera News, Salameh explained that a six-month blockade could drive…

Egypt’s Ministry of Petroleum and Mineral Resources announced on Saturday that it will settle $1.3bn in outstanding dues owed to international oil companies by June 2026, accelerating its previously announced repayment schedule. The move comes as part of broader efforts to restore investor confidence and revive upstream activity, following years…

Trump administration officials are making a desperate push to secure every available barrel of oil amid a worsening energy crisis — even if it means lifting sanctions on the very country that they’re fighting against. But three weeks into war with Iran, the administration is running out of options to…

Egypt’s Minister of Finance, Ahmed Kouchouk, has announced a package of unprecedented incentives and facilitative measures aimed at easing the burden of real estate taxes on citizens, as part of broader efforts to support household finances amid ongoing economic pressures. In a statement issued on Friday, the minister revealed that…