HOUSTON, TEXAS (Editors at Energy Analytics Institute, 17.Feb.2025) — France’s TotalEnergies and Italy’s ENI, partners in Cyprus offshore Block 6, signed a Host Government Agreement (HGA) with the Arab Republic of Egypt and the Republic of Cyprus related to development of Block 6 gas resources. The agreement is a key milestone towards the development […]
Category: Egypt
bp and XRG Close Natural Gas Platform Arcius Energy
(Ian Silverman, Energy Analytics Institute, 16.Dec.2024) — bp and XRG reached financial close and completed formation of their new joint venture (JV) and international natural gas platform – Arcius Energy, announced in Feb. 2024. The JV will combine bp’s and XRG’s deep technical capabilities and proven development track records as […]
EAI: ‘Africa NRG Insights’ Investor Report (PDF Download-Prologue)
HOUSTON, TEXAS (Energy Analytics Institute, 15.Jun.2024) — Energy Analytics Institute‘s recently released ‘Africa NRG Insights’: Africa’s ‘Just’ Energy Transition: An Investor’s Perspective on Opportunities and Challenges, explores the continent’s resources and opportunities as well as its major headwinds. The full 42-page report taps into the insights and thoughts of 9 […]
‘Micro-Documentaries’ Sound the Climate Alarm for Global South at COP29
(Rockefeller Foundation, 11.Nov.2024) — As part of Human Development, Children and Youth, Health, and Education Day at the United Nations Climate Change Conference in Baku, Azerbaijan (COP29), a new series of micro-documentaries highlighting the effects of the climate crisis and its disproportionate impact on the Global South has been released, […]
APA Corp. Reveals 3Q:24, Comments on Suriname, Permian
(APA, 6.Nov.2024) — APA Corporation announced its financial and operational results for the third quarter of 2024. Key Takeaways APA reported a loss attributable to common stock of $223mn or $0.60 per diluted share, which was primarily driven by non-cash impairments of assets in the U.K. and assets held for […]
Egypt President Abdel Fattah el-Sisi Meets Eni CEO Claudio Descalzi
(Eni, 28.Oct.2024) — The President of the Arab Republic of Egypt, Abdel Fattah el-Sisi met today with Eni Chief Executive Officer Claudio Descalzi to follow up on Eni’s ongoing activities in the country and discuss areas of common interest and collaboration. Also in attendance were Egyptian Oil Minister Karim Badawi […]
DMW Marine Expands Workforce to Meet Growing Global Demand
(Energy Analytics Institute, 1.Oct.2024) — DMW Marine Group, which specializes in marine cranes, announced the hiring of nine new service technicians. This move supports the company’s ongoing expansion and enhances its ability to meet the increasing demand for its products and services worldwide, especially in regions like Bahrain, Egypt, Tahiti, […]
APA Corp. Announces 1Q:24 Financial and Operational Results
(APA Corp., 1.May.2024) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first quarter of 2024. Key Takeaways Reported production of 389,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 320,000 BOE per day; Generated net […]
APA Corp. Updates on Executive Leadership Changes
(APA Corp., 9.Apr.2024) — APA Corporation (Nasdaq: APA) announced updates to its executive leadership team to coincide with a restructuring of its development function and the integration of the recently closed acquisition of Callon Petroleum. The changes are effective immediately. “Building on the momentum of our recently closed acquisition, we […]
APA Reveals 4Q:23 Results, Updates on Suriname FID [PDF Downloads]
(APA Corporation, 21.Feb.2024) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the fourth-quarter and full-year 2023. During the fourth-quarter 2023, APA reported net income attributable to common stock of $1.8bn, or $5.78 per share on a fully diluted basis. When adjusted for certain items that impact […]
Sungrow to Supply SG5RT Residential Inverters to Residential PV Project in Egypt
(Sungrow, 15.Nov.2023) — Sungrow, the global PV inverter and energy storage system supplier, announced that it has been selected to supply 400 units of 5kW string inverters with its ultra-safe, high yield, user-friendly, and intelligent O&M features for Egypt’s largest 2MW residential PV project, which includes 400 rooftop solar plants at SODIC’s VYE […]
APA Reveals 3Q:23 Guidance, Schedules Results Conference Call
(APA, 5.Oct.2023) — APA Corporation (Nasdaq: APA) provided supplemental information regarding certain third-quarter 2023 financial and operational results. This information is intended only to provide additional information regarding current estimates management believes will affect results for the third-quarter 2023. It is provided to assist investors, analysts, and others in formulating […]
![An African Gas Renaissance En Route to a ‘Just Energy Transition’ [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/10/md-africa-source-md.jpg)
An African Gas Renaissance En Route to a ‘Just Energy Transition’ [PDF Download]
(The Oxford Institute for Energy Studies, 5.Sep.2023) — The impact of the Russia-Ukraine war on the natural gas trade, inter alia, continues to be felt well beyond Europe’s borders. As the accelerated decarbonisation of the world’s economies is being pushed forward, Europe’s unexpected interest in alternative sources of gas imports […]
TAG Oil on BED 1-7 Well Production
(TAG Oil Ltd., 19.Jun.2023) — TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) provided the following operations update at the BED-1 Field in the Western Desert, Egypt: BED 1-7 Well Production Since initial flowback of the BED 1-7 well on 23 April 2023, the well started by unloading to surface completion fluid from the fracture stimulation […]
![Eni: 4Q:22 and YE:22 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2021/07/eni-logo.jpg){kind=logo}
Eni: 4Q:22 and YE:22 Results [PDF Downloads]
(Eni, 23.Feb.2023) — Eni‘s Board of Directors, chaired by Lucia Calvosa, yesterday approved the unaudited consolidated results for the full year and the fourth quarter of 2022. Eni CEO Claudio Descalzi said: “In 2022, Eni was not only engaged in progressing its sustainable energy transition goals, but also in ensuring […]
How the Russia-Ukraine War is Changing Energy Markets
(WoodMac, 23.Feb.2023) — Ukraine’s battle is existential. The country has suffered a year of lost lives, its people forced to live each day in perpetual fear and witness the destruction of homes, communities and infrastructure. Millions have fled the country. Russia’s war has had a huge impact outside Ukraine, too, […]
Chevron Inks MOU with Egypt on Methane Management
(Chevron, 21.Feb.2023) — Chevron New Ventures PTE. LTD. and the Egyptian Ministry of Petroleum and Mineral Resources (MOPMR) signed a memorandum of understanding (MoU) to share best practices and expertise related to the reduction of methane emissions. The MoU, witnessed by Clay Neff, president of Chevron International Exploration and Production […]
EAI’s NRGBriefs: Jan. 2023
(Energy Analytics Institute, 31.Jan.2023) — Energy briefs as well as others related to finance and politics during January 2023 including Trinidad and Tobago Prime Minister Dr. Hon. Keith Rowley said during the Trinidad and Tobago Energy Conference (TTEC) in Port of Spain that “in this uncertain global environment, energy is […]
Saipem Awarded Deals for $1.2bn in Guyana, Egypt
(Saipem, 15.Dec.2022) — Saipem has been awarded new contracts in Guyana and Egypt for a total amount of approximately $1.2bn. In Latin America: Guyana The first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the UARU oil field development project, located in the Stabroek block offshore Guyana […]
APA Corp. Reduces Routine Flaring in Egypt by 40%
(APA Corp., 14.Nov.2022) — APA Corporation (Nasdaq: APA) today announced the achievement of a compensation-linked environmental, social and governance (ESG) goal to reduce upstream routine flaring across Egypt operations by 40%. The goal was reached ahead of schedule and is the result of numerous emissions reduction projects executed in Egypt […]
Bechtel-led Coalition to Support Egypt’s Decarbonization Strategy
(Bechtel, 11.Nov.2022) — Egyptian LNG has awarded a feasibility study contract to the Bechtel-led Coalition for Decarbonization that includes Enppi, Petrojet, Baker Hughes, GE Digital, HSBC and NBE. The study will assess implementation of a zero-flaring system at the Egyptian LNG export terminal (ELNG) in Idku, east of Alexandria. H.E. Tarek El-Molla, Egyptian […]
CEPM to secure a Green Loan from BofA and Eyes Goal of Net Zero by 2030
(Bank of America, 7.Nov.2022) — InterEnergy Group, a clean energy project developers, operators and owners in the Caribbean, Central and South America, and Bank of America, one of the world’s leading financial institutions, announced today in Sharm el-Sheikh, Egypt at the COP27 United Nations Climate Change Conference, that InterEnergy’s Dominican Republic-based utility, Consorcio Energetico Punta Cana Macao […]
APA Corp. Keeps 2022 Capex Unchanged at $1.725bn
(APA Corporation, 3.Aug.2022) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the second-quarter 2022. APA reported net income attributable to common stock of $926mn, or $2.71 per diluted share. When adjusted for items that impact the comparability of results, most notably a $129mn release of tax […]
APA Corp. Reports 1Q:22 Production of 404,000 BOE/D
(APA Corporation, 4.May.2022) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2022. APA reported net income attributable to common stock of $1.9bn, or $5.43 per diluted share. When adjusted for items that impact the comparability of results, most notably the gains on the closing […]
QatarEnergy Buys 40% Stake in Offshore Egypt Exploration Block
(QatarEnergy, 29.Mar.2022) — QatarEnergy entered into an agreement with ExxonMobil to acquire a working interest in an exploration block offshore Egypt. Under the terms of the agreement, which is subject to customary approvals by the government of Egypt, QatarEnergy will hold a 40% working interest in the contractor’s share in […]
Leaders from Africa and LatAm’s Major Gas Producing Economies To Gather
(EnergyNet Ltd., 2.Mar.2022) — As gas again is discussed as a critical fuel for the energy transition, the most senior officials from Africa and Latin America’s natural gas economies are set to visit Washington DC on 16-18 March, to meet leading institutional and private sector investors at the Powering Africa Summit and Latin America Energy Forum […]
NRGBriefs: TotalEnergies and APA Corp. Report Suriname Find
(Energy Analytics Institute, 21.Feb.2022) — Energy briefs including TotalEnergies and APA Corp. reporting another significant find offshore Suriname in Block 58; APA Corp. announcing 4Q:21 financial results and planning a conference call to discuss the results; US sanctions on Russia and its ties with Venezuela; PDVSA President Asdrúbal Chávez travelling […]
ENAP Sipetrol Egypt Awarded West Amer Block in the Gulf of Suez
(Enap, 3.Jan.2022) — This assignment strengthens the exploration portfolio and confirms ENAP‘s good results in that country. ENAP Sipetrol Egypt has been awarded a new exploration and development contract in the African country. It is the West Amer block, which is located in the central sector of the Gulf of […]
NRGBriefs: Ecuador’s Oil Production Around 91 Mb/d
(Energy Analytics Institute, 27.Dec.2021) — Energy briefs including Ecuador’s crude oil production reaching around 91,480 b/d this week; APA Corp. revealing ratification of a modernized PSC in Egypt; and more. LATIN AMERICA AND THE CARIBBEAN Ecuador — Ecuador’s oil production was just 91,480 b/d on 27 Dec. 2021, according to […]
APA Corp. Ratifies Modernized PSC in Egypt
(APA, 27.Dec.2021) — APA Corporation (Nasdaq: APA) announced the signing, by authority of Egyptian President H.E. Abdel Fattah El Sisi, of the previously announced agreement to modernize and consolidate the company’s current Production Sharing Contracts (PSCs) with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum […]
APA Corp. Says Egyptian Parliament Approves Modernized PSC
(APA, 30.Nov.2021) — APA Corporation (Nasdaq: APA) announced the Egyptian Parliament has approved the previously announced agreement to modernize and consolidate its current Production Sharing Contracts (PSCs) with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum Corporation (EGPC). The PSC now goes to the desk […]
TGS Reveals New 3D Multi-Client In Egyptian Red Sea
(TGS, 29.Oct.2021) — TGS, a global provider of energy data and intelligence, announced a new 3D seismic survey in the Red Sea, Egypt, in partnership with Schlumberger. The project will encompass approximately 6,800 square kilometers and will be acquired with long offsets and processed using a Pre-Stack Depth Migration (PSDM) […]
APA Reports 2Q:21 Net Income of $388mn
(APA, 5.May.2021) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2021. APA reported net income attributable to common stock of $388mn, or $1.02 per diluted share. When adjusted for items that impact the comparability of results, APA’s first-quarter earnings were $346mn, or $0.91 per […]
Eni Looks To Produce Hydrogen In Egypt
(Eni, 8.Jul.2021) — Eni signed an agreement with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to assess the technical and commercial feasibility of projects for the production of hydrogen in the country. The parties will conduct a study into joint projects to produce […]
Hess Corp. Reports 1Q:21 Results
(Hess 28.Apr.2021) — Hess reported net income of $252mn, or $0.82 per common share, in the first quarter of 2021, compared with a net loss of $2,433mn, or $8.00 per common share, in the first quarter of 2020 that included impairment and other after-tax charges of $2,251mn. On an adjusted […]
Shell Updates On African Assets In Annual Report
(Shell, 1.Apr.2021) — Shell provided details in its 2020 annual report related to its operations in Africa from Egypt, Nigeria and Algeria, among other countries. What follows is a summary from the report. Africa Egypt We have a 50% interest in the Badr Petroleum Company (BAPETCO), a joint venture between […]
WoodMac On Suez Canal Congestion
(WoodMac, 24.Mar.2021) — According to Wood Mackenzie’s VesselTracker – as of 24 March, one LNG vessel is “trapped” within the canal. The Golar Tundra loaded at Egypt’s Idku on 21 March and was transiting to Asia. At the Southern entrance, the Rasheeda is awaiting to transit with a shipment from […]
Suez Canal Blockage Causes Vessel Build-up
(WoodMac, 24.Mar.2021) — The Suez Canal blockage has caused the build-up of vessels looking to transit the canal at both the northern and southern anchorages. Wood Mackenzie principal analyst Mark Williams said: “According to Wood Mackenzie VesselTracker, the largest impact is on container shipping, but we estimate that there are […]
Egypt Signs 9 New Deals For Oil And Gas Exploration
(Arab News, 3.Jan.2021) — The Egyptian Ministry of Petroleum and Mineral Resources has signed nine new petroleum agreements to search for petroleum and natural gas in the Mediterranean and the Red Sea with six major international and Egyptian companies. Egyptian Minister of Petroleum Tarek El-Molla said that the ministry reached […]
Total Enters A New Operated Exploration Permit In Egypt
(Total, 3.Jan.2020) — An international consortium led by Total (Total 35% Operator, Shell 30%, KUFPEC 25%, Tharwa 10%) and the Egyptian Natural Gas Holding company (EGAS) have signed an exploration and production agreement for the North Ras Kanayis Offshore block located in the Herodotus Basin, offshore Egypt in the Mediterranean […]
TechnipFMC Starts Work on New Complex In Egypt
(TechnipFMC, 30.Nov.2020) — TechnipFMC has successfully completed the remaining conditions required to enable work to commence on the Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt. As previously announced, this major […]
Apache’s CEO Highlights Suriname On 3Q:20 Call
(Seeking Alpha, 5.Nov.2020) — Apache Corporation CEO John Christmann led the company’s third quarter of 2020 conference call to discuss results with analysts. What follows is the complete transcript of the call. Company Participants Gary Clark – Vice President of Investor Relations John Christmann – Chief Executive Officer & President […]
Apache Releases Sustainability Report
(Energy Analytics Institute, 5.Nov.2020) — Apache Corporation released its 2020 Sustainability Report, which highlights the company’s performance in governance, environmental stewardship, health and safety, workforce development and community engagement. The report, released on 30 September 2020, is available at www.apachecorp.com/Sustainability. __________ By Jared Yamin. © Energy Analytics Institute (EAI). All […]
Apache Reveals 3Q:20 Supplemental Information
(Apache, 14.Oct.2020) — Apache Corporation provided supplemental information regarding certain third-quarter 2020 financial and operational results. Supplemental quarterly information To further assist analysts with their third-quarter earnings models, the company is providing the following estimates: Estimated Average Realized Prices – 3Q20 Oil (bbl) NGL (bbl) Natural Gas (Mcf) […]
Apache Reports 2Q:20 Financial Results
(Apache, 29.Jul.2020) — Apache Corporation (Nasdaq: APA) today announced its financial and operational results for the second-quarter 2020. Key Takeaways — Announced major discovery at Kwaskwasi today, third consecutive discovery in Block 58 offshore Suriname; — Submitted appraisal plan for first discovery, Maka, in May; announced second discovery, Sapakara, in […]
Total, BP And ENI Make New Gas Find Offshore Egypt
(Reuters, 28.Jul.2020) — French oil company Total said on Tuesday that, along with its partners BP and ENI, it had made a gas discovery at a well off the coast of Egypt. Total said the discovery had been made at the Bashrush well on the North El Hammad licence, located […]
Sisi Wins Approval For Possible Libya Intervention
(Reuters, 20.Jul.2020) — Egypt’s parliament gave President Abdel-Fattah al-Sisi the green light for possible military intervention in Libya by approving the deployment of armed forces abroad to fight “terrorist groups” and “militias”. A sharp military escalation in Libya, where fighters led by eastern commander Khalifa Haftar have been battling the […]
Eni Reports New Gas Discovery Offshore Egypt
(Eni, 1.Jul.2020) — Eni has successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush. The discovery further extends to the west the gas potential of the Abu Madi formation reservoirs discovered and produced […]
Egypt, Ethiopia, Sudan Hope For Nile Dam Deal In Weeks
(Reuters, 27.Jun.2020) — Leaders of Sudan, Ethiopia and Egypt said they were hopeful that the African Union (AU) could help them broker a deal to end a decade-long dispute over water supplies within two or three weeks. Ethiopia, whose Grand Ethiopian Renaissance Dam (GERD) is worrying its downstream neighbours Egypt […]