El-Sisi welcomes Egypt cooperation with Shell, urges more exploration
President El-Sisi made his remarks during a meeting with Shell Global's Chief Executive Officer, Wael Sawan, in the presence of Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi, and Chairwoman and CEO of Shell Egypt Dalia El-Gabry.
El-Sisi also praised the role played by the company in partnership with the Egyptian petroleum sector.
Meanwhile, Shell's CEO thanked the president for his continued support and reaffirmed the company's commitment to the strategic partnership with Egypt's oil and gas sector.
Moreover, the president emphasized Egypt's efforts to improve the investment climate and eliminate any obstacles facing investors.
He also affirmed the state's commitment to paying companies' dues, which helps build mutual trust.
Additionally, both sides discussed ways to enhance the existing cooperation to unlock the full potential of the country's oil and gas sector for mutual benefit.
Shell's CEO also expressed the company's eagerness to continue cooperating with Egypt and exploring further opportunities in the country's promising energy sector.
He praised the Egyptian government's role in facilitating and overcoming challenges.
Shell's presence in Egypt dates back to 1911, with the company operating two concessions in Gemsa and Hurghada.
With over 93,000 employees in more than 70 countries, Shell is the world's second-largest investor-owned oil and gas company.
Follow us on:
Short link:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
35 minutes ago
- See - Sada Elbalad
Euro, Dollar See New Dip Against Egyptian Pound amid Market Caution
Taarek Refaat In a continued trend of currency volatility, the euro and US dollar recorded fresh dips against the Egyptian pound during international trading on Saturday, signaling growing market uncertainty and possible shifts in Egypt's monetary dynamics ahead of the upcoming financial quarter. According to the latest international trading data, the euro dropped to EGP 56.12, extending its recent decline. The US dollar also edged lower to EGP 48.17, its weakest level in weeks. These movements come amid a banking holiday in Egypt, with local financial institutions closed for the weekend. Despite the halt in domestic trading, international forex markets remained active, reflecting underlying investor sentiment. What's Driving the Decline? Currency analysts point to several potential factors behind the continued pressure on foreign currencies: Tighter monetary policy in Egypt has increased demand for the pound, particularly after recent interest rate adjustments by the Central Bank of Egypt (CBE). Slower-than-expected recovery in the Eurozone and cautious US economic data have weakened both the euro and the dollar against a number of emerging market currencies. Increased remittances and foreign investment inflows may also be contributing to a stronger Egyptian pound, as confidence in Egypt's fiscal reforms grows. CBE Exchange Rates: US Dollar 48.48 48.62 Euro 56.57 56.74 Pound Sterling 65.05 65.27 Canadian Dollar 35.31 35.42 Danish Krone 7.58 7.60 Norwegian Krone 4.75 4.77 Swedish Krona 5.04 5.06 Swiss Franc 60.12 60.33 Japanese Yen 100 32.90 32.99 Saudi Riyal 12.92 12.95 Kuwaiti Dinar 158.70 159.21 UAE Dirham 13.20 13.23 Australian Dollar 31.64 31.74 Bahraini Dinar 128.60 128.98 Omani Riyal 125.93 126.30 Qatari Riyal 13.29 13.35 Jordanian Dinar 68.29 68.68 Chinese Yuan 6.75 6.77 . read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Sisi, Turkish FM Discuss Ways to Strengthen Bilateral Relations, Regional Issues
Nada Mustafa President Abdel Fattah El-Sisi received on Saturday Turkish Minister of Foreign Affairs, Hakan Fidan, in the presence of Dr. Badr Abdelatty, Egypt's Minister of Foreign Affairs, Immigration, and Affairs of Egyptians Abroad. Presidential Spokesman Ambassador Mohamed El-Shenawy stated that the Turkish minister conveyed the greetings of President Recep Tayyip Erdoğan to President El-Sisi, who appreciated the gesture and stressed the importance of continuing efforts to enhance bilateral relations between the two countries. Sisi highlighted the qualitative progress in Egypt-Turkey relations, particularly following the signing of the Joint Declaration in February 2024 to reactivate the High-Level Strategic Cooperation Council meetings and elevate them to the level of the two heads of state. Moreover, the meeting witnessed mutual affirmation on the need to strengthen economic cooperation between Egypt and Turkey, with the goal of achieving a trade volume of $15 billion, in line with the agreement reached during President El-Sisi's visit to Ankara in September 2024. The two sides also underscored the importance of expanding Turkish companies' participation in investment projects in Egypt. The meeting also addressed developments in several regional issues, foremost among them the situation in the Gaza Strip. Both sides reaffirmed their rejection of the re-establishment of military occupation in the Strip, stressed the need for an immediate ceasefire, the entry of humanitarian aid, and the release of hostages and detainees, while rejecting the displacement of Palestinians. In addition, the two leaders discussed the latest developments in Libya, Syria, and Sudan. In this regard, Sisi outlined Egypt's vision for achieving peace and stability in these brotherly nations and the country's efforts in this regard, emphasizing the importance of respecting their sovereignty, preserving their territorial integrity, and safeguarding the resources of their peoples. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
Al-Ahram Weekly
7 hours ago
- Al-Ahram Weekly
Egypt, Turkey affirm rejection of Israeli plan to reoccupy Gaza - Foreign Affairs
President Abdel-Fattah El-Sisi and Turkey's foreign minister, Hakan Fidan, reaffirmed Cairo and Ankara's rejection of Israel's plan to reoccupy the Gaza Strip during talks in Cairo on Saturday. Egyptian presidency spokesman Ambassador Mohamed El-Shennawy stated that the two sides called for an immediate ceasefire in the Gaza war, the unrestricted entry of humanitarian aid to the strip, an exchange of captives and prisoners, and rejection of any displacement of Palestinians from their land. On Friday, Egypt and Turkey issued statements rejecting the Israeli cabinet's decision to expand its 22-month-long genocidal war on Gaza, seize full control of Gaza City and reoccupy the strip. Earlier this week, the Egyptian president said the war on Gaza was no longer about hostages or political aims, but 'a war of starvation, genocide, and an attempt to eliminate the Palestinian cause.' The meeting, which was attended by Foreign Minister Badr Abdelatty, also covered the situations in Libya, Syria, and Sudan, with El-Sisi outlining Egypt's vision for peace and stability. Both sides stressed respect for sovereignty, the preservation of territorial integrity and the protection of national resources. El-Sisi praised progress in Egyptian-Turkish ties since a February 2024 agreement to upgrade the High-Level Strategic Cooperation Council meetings to head-of-state level. The two governments agreed to boost economic cooperation towards their goal of $15 billion in bilateral trade, set by El-Sisi and President Recep Tayyip Erdoğan during talks in Ankara last September. Follow us on: Facebook Instagram Whatsapp Short link:
