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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Egypt’s export of LNG touches 1m tons in Q3

The agreement is free-on-board (FOB) and starts in 2026.
By TRENDS Desk
November 24, 2021 11:35 pm
  • The oil and gas sector contributed 24 percent to the country’s gross domestic product in 2019-2020 despite the pandemic
  • A surplus, equivalent to about EGP9.5 billion ($604 million), in the petroleum balance of payments was reached during 2020-2021

Egypt has edged out its Arab neighbors in natural gas exports and exported one million tons of liquefied natural gas during the third quarter of 2021, the country’s minister of petroleum and mineral resources revealed.

The oil and gas sector contributed 24 percent to the country’s gross domestic product in 2019-2020 despite the pandemic. Before the pandemic, the sector’s contribution to the GDP was recorded at around 27 percent in 2018-2019.

A surplus, equivalent to about EGP9.5 billion ($604 million), in the petroleum balance of payments was reached during 2020-2021, compared to a surplus of EGP9.9 billion in 2018-2019, Tarek Al-Mulla said.

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