Business - Energy

Nigerian oil giant now free of state control: President

President Muhammadu Buhari said on Tuesday Nigeria's state-run oil firm would now operate as a fully commercial business without government intervention or funding.

Libya announces 1st oil export after lifting force majeure

The National Oil Corporation (NOC) of Libya announced on Sunday that the Italian oil tanker 'IBELA' loaded an oil shipment through the Brega oil terminal of the Sirte Oil and Gas Company.

Egypt, UAE agree on wind farm project to generate 10 GW of electricity

Egypt and the UAE have finalised the details of an agreement to establish a project to generate power from a wind farm with a capacity of 10 gigawatts, Minister of Electricity Mohamed Shaker said on Tuesday.

Italy's president in Mozambique to discuss gas supplies

Italian President Sergio Mattarella met with his Mozambican counterpart Filipe Nyusi in Maputo on Tuesday to discuss gas supplies as Rome seeks to reduce its reliance on Russia.

Bezos slams Biden appeal for lower gasoline prices

Amazon founder Jeff Bezos has criticized President Joe Biden for calling on oil companies to lower sky-high gasoline prices, prompting the White House to come to the US leader's defense on Sunday.

Berlin preps 'huge thermos' to help heat homes this winter

​The rust-colored tower rising from an industrial site near the banks of Berlin's Spree river looks nothing like the sleek flasks Germans use for coffee, yet its purpose is similar: to provide some warmth throughout the day, especially when it's cold outside.

Russia’s ROSATOM permitted to start construction on Egypt’s first nuclear power plant

The Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) issued a permit to Russia’s State Atomic Energy Corporation (ROSATOM) for the construction of the El-Dabaa NPP Unit 1, according to an announcement by the corporation Thursday.

Egypt, Chevron sign MoU over east Mediterranean natural gas transfer

The Egyptian Natural Gas Holding Company (EGAS) and US-energy-giant Chevron signed in Cairo on Monday a memorandum of understanding (MoU) on the transport, import, liquefication, and export of gas from the east Mediterranean to Egypt, the Ministry of Petroleum and Mineral resources said in a statement.

Lebanon to sign deal with Egypt to import gas: Lebanese energy minister

Lebanon will sign a final agreement to import gas from Egypt via Syria on 21 June in Beirut, Lebanese Minister of Energy Walid Fayad said on Monday.

Seventh EMGF ministerial meeting stresses urgent need for securing low carbon energy supplies

The seventh ministerial meeting of the Cairo-based East Mediterranean Gas Forum (EMGF) highlighted on Wednesday the “urgent need” for securing more reliable, affordable, and low carbon energy supplies in accordance with the Paris Agreement.

East Mediterranean Gas Forum can play pivotal role in resolving global energy crisis: Sisi

President Abdel-Fattah El-Sisi said on Wednesday that the East Mediterranean Gas Forum (EMGF) can play a pivotal role in resolving the global energy crisis.

Egypt, EU and Israel sign agreement to export natural gas to Europe

Egypt, EU and Israel signed on Wednesday in Cairo a framework agreement to export natural gas from Israel via Egypt to Europe.

Egypt supports Palestine's right to benefit from its natural resources: Minister

Egypt's Petroleum and Mineral Resources Minister Tarek El-Molla affirmed on Tuesday the support of his country to Palestine’s right to make use of its natural resources, specifically the Gaza Marine natural gas field.

British ambassador calls Egypt 'emerging renewable energy power'

British Ambassador to Egypt Gareth Bayley has called Egypt as an "emerging renewable energy power,” saying it is high time that the country moves to become one of the top renewable energy producers.

SCZONE, German H2 Industries sign MoU to build zone's first waste-to-hydrogen plant

The Suez Canal Economic Zone (SCZONE) and German energy storage firm H2 Industries signed on Wednesday a Memorandum of Understanding (MoU) to build the first waste-to-hydrogen plant in the zone, with total investments amounting to $4 billion.

EU's Russian oil ban unlikely to affect OPEC+ decision

Saudia Arabia, Russia and their allies are likely to stick to their policy of modest oil output increases when they meet Thursday after the EU banned most imports from Moscow.

Poland sees Egypt as prospective LNG supplier: President

Polish President Andrzej Duda said Poland views Egypt as a prospective supplier of liquefied natural gas (LNG) to the European country after a meeting on Monday with President Abdel-Fattah El-Sisi in Cairo.

Shell subsidiary BG Int'l Limited acquires ExxonMobil’s offshore position in Egypt

BG International Limited — a subsidiary of Shell plc. — signed a Farm Out Agreement (FOA) with ExxonMobil Egypt to acquire a 100 percent stake in the ExxonMobil-operated north-eastern El-Amriya Offshore Area in the Mediterranean Sea, which is also known as Block 3, Shell announced on Wednesday.

US companies willing to inject green investments into Egypt: Head of GreenTech Business

GreenTech Business Mission to Egypt, which concluded its activities on Monday, is meant to support Egypt as it gears up to host COP27 in Sharm El-Sheikh in November, said Vice President of the US Chamber of Commerce and a leader of the mission Marty Durbin.

Top oil producers agree on modest supply boost amid demand concerns

Saudi Arabia, Russia and other key oil producers agreed on Thursday to another marginal increase in output, bolstered by risks to demand amid coronavirus restrictions in China.

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