News

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…

The International Monetary Fund (IMF) said the economic impact of the ongoing Iran conflict on Egypt has so far remained “relatively limited,” citing early and coordinated policy measures by Egyptian authorities that helped contain external pressures. Speaking at a press briefing, IMF spokesperson Julie Kozack noted that Egypt’s flexible exchange…

Minister of Finance Ahmed Kouchouk has announced a suite of unprecedented tax facilities and incentives designed to alleviate financial pressures on Egyptian citizens. Central to the new measures is the decision to raise the property tax exemption threshold for primary residences to LE 8 million, ensuring that the majority of middle-income…

The Egyptian Ministry of Petroleum and Mineral Resources has announced the commencement of an extensive exploratory drilling campaign in the Mediterranean by Arkhouse Energy, the strategic joint venture between the UAE’s ADNOC and the UK’s BP. In a clear sign of operational readiness, the world-class drillship “Valaris DS-12” has departed…

Global energy markets were jolted on Wednesday after Iran carried out an attack on a major liquefied natural gas (LNG) facility in Qatar, triggering sharp increases in both oil and European natural gas prices and intensifying fears of prolonged supply disruptions. Brent crude rose 3.8% to settle at $107.38 per…

El Gouna – 18th March 2026: Sandbox Festival, the leading international electronic music festival from Egypt, returns for its 12th year to El Gouna Red Sea, from May 7–9, 2026, once again unveiling a multi-stage celebration of electronic music. Set amongst the pristine beaches of the luxurious coastal town of…