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The Latest Breaking News from Molla

Egypt’s Minister of Petroleum and Mineral Resources Tarek el-Molla held several meetings in Washington with some businessmen, research and academic institutions, officials of the Ministry of Energy, and members of the US Congress. The Minister said that his visit to the US aimed to discuss ways to enhance cooperation in…

Asharq Al-Awsat

Egypt to Benefit from Mining in the Golden Triangle

Egyptian Minister of Petroleum Tarek El-Molla has said that the development of the Golden Triangle region requires the participation of all sectors to attract foreign and domestic investments. The Golden Triangle project is one of the major mining projects intended to be established between Qena, Safaga, and al-Qusayr.

Asharq Al-Awsat

Egypt’s Natural Gas Export Revenue Spikes 171%

The Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla said on Wednesday that Egypt’s output of petroleum products amounted to around 79.5 MT in 2022, including around 50.6 MT of natural gas. Egypt’s exports of natural gas rose to $8.40 billion in 2022, a surge of 171 percent from…

Asharq Al-Awsat

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Egypt Exports 90% of its Gas to European Markets

Egypt exported eight million tons of liquefied natural gas (LNG) this year, up from seven million in 2021, announced Minister of Petroleum and Mineral Resources Tarek El-Molla. During the opening of the eighth Egypt Oil and Gas Convention in Cairo, Molla said that 90 percent of Egyptian LNG exports would…

Asharq Al-Awsat

For survivors of Ethiopia's Tigray war, truce brings cautious hope

A ceasefire deal in Ethiopia's northern Tigray region has raised cautious hope among millions of people impacted by the bloody two-year conflict that their anguish could be coming to an end.

Reuters

Egypt Expects $12 Bn in Gas Revenues in 2022

Egypt's gas revenues are expected to reach $12 billion, and about $7 billion from oil derivatives and petrochemicals, announced petroleum minister Tarek el-Molla. Molla spoke to Skynews Arabia on Monday on the sidelines of his participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). He said that Egypt…

Asharq Al-Awsat

Egypt, Qatar to Boost Cooperation Through Gas Exporting Countries Forum

Egypt and Qatar have agreed to bolster cooperation in the energy sector at the Gas Exporting Countries Forum (GECF) through continuous bilateral coordination. Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla held talks on Monday with Qatari Energy Minister Saad bin Sherida al-Kaabi. In a press statement, Molla said…

Asharq Al-Awsat

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Egypt to Link Oil Refining System into Unified Digitally Managed Network

Egypt’s oil refining system is being linked into a unified network through the Egyptian General Petroleum Corporation (EGPC) that will be managed online, Petroleum Minister Tarek el-Molla has announced. Molla explained that the development of the refining system and the petrochemical industry began in 2016 through the overall vision of…

Asharq Al-Awsat

Egypt Underlines Growth in Activities, Economic Returns of Public Sector Oil Companies

Egypt's Minister of Petroleum and Mineral Resources Tarek el-Molla chaired on Sunday the meetings of the general assemblies of public sector oil companies, via video conference, to discuss and approve the results of FY 2021/22. He affirmed that the public sector oil companies have developed remarkably in recent years, citing…

Asharq Al-Awsat

Egypt Begins Trial Operation of Development Projects in Petrochemical Plants

Egypt inaugurated on Monday comprehensive development projects at the factories of the Egyptian Petrochemical Company in Alexandria. Petroleum Minister Tarek el-Molla inaugurated the trial operation of the developed factories, including the chlorine plant and the new thermal cracking unit of the vinyl chloride monomer production plant. He stressed the sector's…

Asharq Al-Awsat

Egypt Discusses with EBRD Clean Energy Transition

Egypt and the European Bank for Reconstruction and Development (EBRD) discussed clean energy transition and Cairo's ongoing preparations for hosting the UN's Conference of Parties on Climate Change (COP 27). Minister of Petroleum and Mineral Resources Tarek El-Molla met Vice President of Policy and Partnerships at EBRD Mark Bowman and…

Asharq Al-Awsat

Egypt Launches EGYPS 2022 Amid Efforts to Transform Cairo into a Regional Energy Hub

The Egypt Petroleum Show 2022 (EGYPS) kicked off its fifth edition in Cairo with broad international participation, amid rapid steps to transform Egypt into a regional energy hub. Egyptian gas plays a vital role in securing part of the energy needs of European countries by exporting surplus gas produced from…

Asharq Al-Awsat

Egypt Natural Gas Exports to Reach 7.5 Mln Tons this Fiscal Year

Egypt's natural gas exports are expected to rise to 7.5 million tons by the end of this fiscal year, Petroleum Minister Tarek El-Molla said on Thursday. Egypt's gas exploration plan for the fiscal year 2022/2023 is expected to add 450 million cubic feet to gas production per day and 17,200…

Asharq Al-Awsat

Egypt Ramps Up Oil, Gas Production Amid Increase in Oil Prices

Egyptian Minister of Petroleum, Tarek El-Molla, stressed the need for intense efforts to implement an action plan that would meet the goals of increasing oil and gas production, especially with the current rise in international oil prices. Molla chaired the general assemblies for Khalda Petroleum Company and Qarun Petroleum Company…

Asharq Al-Awsat

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Asharq Al-Awsat

Egypt Targets 5.7% Growth in Next FY

Egypt will target economic growth of 5.7 percent and a primary surplus of 1.5 percent of GDP in the 2022-23 financial year, the finance ministry said on Tuesday. The country is targeting an overall budget deficit of 6.1 percent in the next financial year, which begins in July. The finance…

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