Latest in Energy Highlight
Latest in Energy
We are waiting for commercial details of LNG import agreement from Egypt: Bulgaria’s Energy Minister
The minister added on the sidelines his participation in COP27 that Bulgaria looks forward to activating the LNGagreement as soon as possible
Egyptian President meets with Fortescue Future Industries over green hydrogen opportunities ahead of COP27
Dr Forrest said, “Egypt is on the way to becoming a global powerhouse in the green energy value chain and will be ready to show the world that at COP27.”
KarmSolar announces new minority stake round
The new investment round is supported by US-based Synergy Consulting as the sell-side adviser. The capital injection will support existing power generation and distribution businesses, as well as enable new business verticals like solar water desalination solutions provider KarmWater and electric mobility venture KarmCharge to flourish.
Enppi, Petrojet acquire foreign partner’s stake for $117m
Star Ltd. sold its shares in the company, and Cairo Capital is the broker of the two parties to the deal: Sources
Emirati, Australian companies consider investing in Egyptian green energy
Moataz Kandil, regional director of FFI in the Middle East and North Africa, said that the legislation and regulations governing investment in green energy in Egypt contributed to achieving a major leap in clean energy projects in Egypt, and the company seeks to cooperate and invest in renewable energy projects and green hydrogen production.
OPEC+ to slightly raise oil output in September
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Wednesday announced a slight production boost in September despite calls for speedier increases to rein in high crude prices. The oil alliance decided to increase production by 100,000 barrels per day (bpd) for September, according to an OPEC …
30% increase in electricity bills due to higher consumption
Informed sources told Daily News Egypt that the consumption bills for July increased by 17-30% due to the increase in citizens’ consumption. The governorates of Giza, Cairo, and Alexandria had the highest rates in the household sector.
Egypt raises domestic fuel prices
Egypt’s Ministry of Petroleum and Mineral Resources announced on Wednesday an increase in the prices of domestic fuel derivatives. “Egypt’s fuel pricing committee in a quarterly review raised domestic fuel prices by 0.50 Egyptian pounds (0.026 U.S. dollars) for 80-octane, 92-octane petrol and diesel, while 95-octane petrol was raised by 1 pound,” the ministry said …
Triple M plans to acquire 1.5 GW of solar, wind energy projects
It also establishes water desalination plants and implements plants for waste recycling and energy production, as well as drilling wells and providing equipment and machines used in such projects.
Egypt looks forward to benefit from Tunisian experience in solar heating
The Egyptian delegation visited a number of projects affiliated with the Tunisian Electricity and Gas Company, as well as a number of sites that include solar heaters, and the National Agency for Energy Control.
Egypt studies establishment of small nuclear reactors to produce energy
The NPPA conducts other studies, including the establishment of other nuclear power plants in the Nujaila area, other than the Dabaa plant, which is currently under development, a senior official in the NPPA told Daily News Egypt.
Government considers flexible mechanism to determine electricity prices
New proposal to review electricity prices every six months due to changes in production cost
Egypt, EU, Israel sign gas export deal in Cairo
The deal will allow Israel to export gas to Europe via Egypt. This comes as the EU races to cobble an energy strategy to replace the Russian gas supplies it has relied on for decades.
Egypt’s Al-Sisi, European Commission chief discuss cooperation in energy sector
EU to provide Egypt with €100m aid package to face repercussions of global food crisis
Siemens to introduce roadmap for emerging energy technologies in Egypt this year
Plan includes underground energy projects, electric cars
EU proposes deal to import natural gas from Egypt and Israel
The European Commission has proposed an agreement to import natural gas from Egypt, and Israel Reuters reported on Friday. This comes as part of EU bid to reduce energy reliance on Russia following the Russian-Ukraine war. The draft agreement proposed to EU member states is still subject to changes and needs approval from the governments …
Energy sector awaits new stimulus package before Sharm El Sheikh’s climate summit
Wael Al-Nashar, Chairperson of Onera Systems, believes that the government should issue additional incentives to companies working in the field of installing solar systems so that they can continue their business.
Oil prices hike after EU leaders agree to ban most Russian crude imports
The President of the European Council said that the decision would immediately hit 75% of Russian oil imports.
Egypt allocates 5,200 sqkm of land for renewable energy projects
The NREA seeks to utilize the allocated lands before launching new projects. The timeframe for these projects is 8 to 10 years, within the framework of the government’s plan to expand clean energy projects.
The road to net-zero carbon; Egypt races for green hydrogen
Green hydrogen production would change geopolitics of energy in the Middle East, making Egypt a regional energy hub
14 entities participate in project to build capacity of geothermal energy in Egypt
Forty countries have recently turned to using geothermal energy in direct applications for agricultural production, and Iceland, Costa Rica, El Salvador, Kenya, New Zealand and the Philippines get more than 10% of their electricity needs thanks to natural heat.
Egypt imposes fees on integrating solar plants for irrigation on electricity grid
The main objective of the decision is to open the way for farms consuming large amounts of electricity to implement solar irrigation plants with a net-metering system, especially since this system did not exist before for farms, and solar-powered irrigation pumps were being implemented that were not connected to the network, according to informed sources who spoke with Daily News Egypt (DNE).
NREA’s ongoing renewable energy projects attract $3.5bn worth foreign investment
The projects are implemented by many international companies specialized in the field of renewable energy. The projects are under development, including 78% for wind power plants in the Gulf of Suez region, and 22% for solar power plants.
Electricity prices still subsidised, increases included in restructuring plan until 2025: Electricity Minister
He added that in 2025, the electricity sector will have reached the real cost of the value of electricity, as all subsidies on power will be removed by then. Instead, there will be reciprocal support from heavy consumers for low-income citizens.
Russia warns West: gas bills in roubles are just days away
Russia warned the West on Friday that billing in roubles for billions of dollars of natural gas exports to Europe could be just days away, Moscow’s toughest response yet to crippling sanctions imposed by the West in response to Ukraine war. With the Russian economy facing its gravest crisis since the years that followed the …
All options on the table, UK PM says when asked about Russian oil ban
We have to consider how we can all move away as fast as possible from dependence, reliance on Russian hydrocarbons, Russian oil and gas, says UK PM
Is the war in Ukraine impacting Russian gas supplies to Europe?
Reuters – Despite the cascade of Western sanctions on Russia in response to its offensive in Ukraine, one thing hasn’t been affected so far – flows of Russian gas to Europe and the funds to pay for it. Europe remains heavily dependent on Russian gas, which supplies around 40% of its needs, and is now …
Petroleum Ministry targets EGP 7bn investments for Assiut Oil Refining, Petroleum Pipelines
ASORC implements new petrol production complex in Upper Egypt
Egypt’s renewable energy in 2021 amounts to 24,000 GW/h
Renewable energy projects under development have total capacity of 3,570 MW, with $3.5bn investments
Egypt to raise electrical output to the North Coast by 50% to feed national projects
Minister of Electricity and Renewable Energy Mohamed Shaker told Daily News Egypt that the total load for the North Coast region is 1,185 MW. Projects with a capacity of 1,015 MW have been contracted, and 170 MW are expected to be added to raise the capacities exported to Libya.