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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

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Egypt looks to neighbors, and beyond, for power supply

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  • The ministry is studying a huge project for power linkage with Cyprus, Crete and Greece
  • Shaker said the launch of power projects to connect with Libya is a strategic goal for the two countries

In order to make sure that Egyptians get an uninterrupted supply of electricity, Egypt has taken steps to strengthen power  linkage lines with neighboring countries such as Jordan, Sudan and Libya to ensure uninterrupted electricity supply to the country, Asharq Al-Awsat quoted Egyptian Minister of Electricity Mohamed Shaker as saying.

The minister said the country is also considering expanding its efforts to Europe through maritime cables to fill existing gaps between supply and demand.

Shaker said the launch of power projects to connect with Libya is a strategic goal for the two countries.

The ministry is studying a huge project for power linkage with Cyprus, Crete and Greece.

The Egyptian Nuclear Power Plants Authority recently submitted the necessary documents to obtain permission to start construction on the first nuclear plant in El-Dabaa, Marsa Matrouh, to generate 4,800 MW of electricity.