Egypt's oil, natural gas output decline 20% YoY in January
Egypt's oil and gas output declined in January 2025, the Middle East Economic Survey (Mees) data showed.
The natural gas output shrank by 20% year-on-year (YoY) to 4.312 billion cubic feet per day (bcf/d) in January, marking its lowest monthly level since December 2016.
On a monthly basis, the natural gas production from the West Delta region dropped by 3% in January to 3.1 bcf/d, recording an eight-year low.
The decline came despite more of Shell's West Delta Deep Marine wells going online in early January.
Output from the Western Desert has been stable since November at 763 mcf/d, while output from the onshore Nile Delta region retreated to its lowest level since mid-2014 to 332 mcf/d.
'Whilst there are some positive signs for Egypt's gas output trajectory in 2025 — though, given steep underlying decline rates, the smart money is on slower decline rather than overall gains — for oil there are few if any positive signs,' Mees stated.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Zawya
6 days ago
- Zawya
NOG Energy Week 2025 Set to Evolve Africa's Energy Transformation
NOG Energy Week 2025, themed 'Accelerating Global Energy Progress Through Investment, Partnerships&Innovation', is scheduled from 29 June - 3 July 2025, at the Abuja International Conference Centre (ICC) in Nigeria, and convenes industry leaders, policymakers, and innovators to discuss and strategise on sustaining this growth trajectory. The conference will explore how strategic investments, robust partnerships, and cutting-edge technologies can further enhance Africa's energy landscape. NOG Energy Week 2025 will also spotlight strategies to attract and increase investments in Africa's upstream sector, emphasising the importance of creating a competitive and resilient investment climate. Sessions will highlight how indigenous operators and national oil companies are enhancing asset performance and production output through targeted investments and innovative practices. Nigeria's energy sector is undergoing a transformative era, characterised by a surge in investments and a strategic focus on technological advancements and increased production. In 2024 alone, the sector attracted approximately $6.7 billion in investments, with $5.5 billion directed towards oil and gas initiatives. Notably, Shell Nigeria Exploration and Production Company's $5 billion investment in the Bonga North Deep Offshore Project is set to boost the nation's oil production capacity by approximately 110,000 barrels per day. Recognising the critical importance of a diversified energy mix for Nigeria's sustainable future, NOG Energy Week 2025 will include dedicated sessions on the integration of renewable energy sources alongside traditional oil and gas operations. These discussions aim to position Nigeria at the forefront of the global energy transition while maintaining energy security and economic growth. Speaking to why the event has included these key topics in the programme, Wemimo Oyelana, Country Director – Nigeria&Portfolio Director – Africa for dmg Nigeria events, emphasised, ''As Nigeria navigates an evolving global energy landscape, technology and investment will support increased production and long-term competitiveness. In this era of rapid technological advancement and shifting market dynamics, Nigeria must harness innovative solutions and strategic capital deployment to unlock its full energy potential. NOG Energy Week 2025 provides a vital platform where industry leaders, government policymakers, investors, and technology experts can come together to exchange insights, foster collaboration, and align their efforts toward a common goal. This conference not only facilitates dialogue but also drives actionable strategies that will enable Nigeria to expand its production capacity sustainably, attract critical investments, and strengthen its position as a key player in the global energy arena.'' Complementing the strategic discussions, the Technical Seminar, themed 'Innovating Today's Technology for Tomorrow's Energy Needs', will showcase practical breakthroughs, from Artificial Intelligence (AI) powered reservoir diagnostics to smart grid integration and modular refinery technologies, providing professionals with actionable insights into the tools transforming the industry. With over 7,000 attendees, 350 exhibitors, and representation from 85 countries, NOG Energy Week 2025 reaffirms its position as Sub-Saharan Africa's leading energy gathering, a meeting ground for deal-making, innovation, and sustainable development. Distributed by APO Group on behalf of dmg Nigeria events.


Zawya
30-05-2025
- Zawya
Dan Etete: Architect of Nigeria's oil sovereignty
BY the twilight of 2024, Nigeria's local content participation in oil and gas had risen to an unprecedented 56 percent, as reported by the Nigerian Content Development and Monitoring Board (NCDMB). This remarkable milestone reflects a strategic shift in Nigeria's resource governance—an ongoing revolution in which Nigerian companies, workers, and communities increasingly occupy center stage in the oil and gas value chain. But long before such progress became measurable or fashionable, it was visionaries like Chief Dan Etete, Nigeria's Minister of Petroleum Resources from 1995 to 1998, who laid the philosophical, political, and structural foundation for this transformation. Etete's time in office coincided with a turbulent yet defining period in Nigeria's history. Serving under the late General Sani Abacha, he operated in a milieu of intense international scrutiny, geopolitical tension, and entrenched foreign dominance over Nigeria's energy resources. For decades, multinational oil corporations such as Shell, Chevron, and Mobil had maintained monopolistic control over oil exploration and production in Nigeria. Local content was virtually non-existent, and the concept of indigenous ownership of oil blocks was treated as radical, even dangerous. Etete challenged this orthodoxy with courage and clarity. He recognised that economic sovereignty was inseparable from resource control, and he pursued bold reforms to break the stranglehold of foreign multinationals over Nigeria's oil wealth. It is instructive to note that the foresight of Etete in pioneering local content laid the foundation for the recent dynamic Nigeria First Policy by President Bola Tinubu that places emphasis on made in Nigeria goods. For the record, Etete was the one that set up Marginal Field Decree of 1998 for the benefit of all Nigerians to be included in the oil and gas industry. His tenure heralded a new era of indigenous participation and empowerment, even as it attracted controversy from entrenched interests both within and outside Nigeria. Pioneering the local content revolution Etete's boldest policy decision was the allocation of Oil Prospecting Licences (OPLs) to Nigerian-owned companies. On April 29, 1998, he signed off on the award of critical oil blocks—including OPL 245 (Malabu Oil and Gas), OPL 246 (South Atlantic Petroleum), OPL 247 (Heritage Oil), and OPL 248 (Zebra Energy)—to Nigerian firms. Far from being arbitrary handouts, these allocations were grounded in a nationalistic philosophy: to redistribute wealth, transfer technology, build local capacity, and give Nigerian entrepreneurs a stake in the oil economy. It is crucial to understand the status quo Etete was up against. According to the Nigeria Extractive Industries Transparency Initiative (NEITI), over 80% of Nigeria's oil wealth historically accrued to foreign firms, with only $5 out of every $100 remaining in the country. The rest was exported as capital flight, enriching foreign shareholders while Nigerian communities, particularly in the Niger Delta, endured pollution, poverty, and violence. Etete was the first senior public official to confront this injustice—not through rhetoric, but through policy. He expanded the Indigenous Concession Programme (ICP), which had been initiated in the early 1990s but lacked political will and institutional support. Under Etete, the ICP gained teeth. Notably, he facilitated the transfer of OPL 216 from BP-Statoil to Famfa Oil, co-founded by Mrs. Folorunsho Alakija. Today, Famfa Oil is among Nigeria's most successful indigenous oil companies, producing in partnership with Chevron. The saga of OPL 245: A symbol of resource nationalism Perhaps no oil block better illustrates the high stakes and political complexities of Etete's tenure than OPL 245. Covering over 1,800 square kilometers in deep offshore waters, the block holds an estimated 9 billion barrels in oil reserves. In 1998, the oil block was awarded to Malabu Oil and Gas. It is important to state with high sense of responsibility that Dan Atete did not have interest in OPL 245. It was the directors of Malabu that appointed him as a consultant to the oil firm. The goal, as contemporaneous documents show, was not personal enrichment but to create a Niger Delta-led consortium that would ensure the people of the oil-bearing region had a direct stake in the resources beneath their soil. The ownership of OPL 245 became a litmus test for indigenous empowerment. However, in 2001, during President Olusegun Obasanjo's administration, Malabu's license was revoked and the block was reallocated to Shell. This triggered a legal battle that would last more than two decades, involving multiple Nigerian administrations, international oil giants Shell and Eni, and litigation in Nigeria, the UK, France, and Italy. Despite the media firestorm and politically motivated allegations, no court has ever found Etete personally guilty of corruption regarding the Malabu transaction. In fact, in 2017, an Italian court acquitted Shell and Eni executives, and in 2021, a Milan court reaffirmed that no criminal wrongdoing was proven. Even Nigerian courts have affirmed Malabu's title to the block on several occasions. The enduring controversy surrounding OPL 245 is a case study in how resource nationalism can be criminalised when it challenges global corporate interests. Etete became a convenient scapegoat—not because of criminal acts, but because he sought to give Nigerians ownership of their oil. Advocacy for the Niger Delta: Born in the heart of the Ijaw ethnic nation, Chief Dan Etete had firsthand knowledge of the paradoxes of Nigeria's oil wealth. He was vocal about the marginalization of the Niger Delta, and his policies reflected a desire to use oil wealth to catalyze development in the region. Etete's advocacy extended to calls for new states in the Niger Delta, greater resource control, and environmental remediation. He supported the idea of using oil-derived revenue to fund education, infrastructure, and local enterprise. This perspective, though ahead of its time, now aligns with today's Host Community Development Trusts (HCDTs) embedded in the Petroleum Industry Act (PIA) 2021. The long-term impact of Etete's tenure is undeniable. Companies such as Seplat Energy, Aiteo, Oando, Sahara Energy, and Notore—all of which now employ thousands of Nigerians and are publicly traded—owe their rise to the indigenous empowerment precedent set by Etete. The idea that Nigerian firms could compete globally in oil and gas was once unthinkable. Today, it is taken for granted. In 2010, more than a decade after Etete's reforms, the Nigerian government enacted the Nigerian Oil and Gas Industry Content Development Act (NOGICD Act), which mandates that Nigerians must own a minimum percentage of goods, services, and workforce in the sector. This legislation draws a direct philosophical lineage to Etete's early efforts. Under the administration of President Bola Tinubu, Nigeria has doubled down on local content. In 2024, NCDMB reported that 56 percent of oil and gas industry services were performed by indigenous companies. These include fabrication yards, engineering services, and upstream operations—sectors previously monopolized by foreign contractors. In essence, the nation owes these milestones to the brave and bold efforts of pioneers like Dan Etete. A visionary ahead of his time Etete's role in shaping Nigeria's oil and gas architecture has been systematically downplayed, even maligned. Yet, a dispassionate review of the facts reveals that he was not a rogue actor, but a reformer within a resistant system. His decisions were rooted in strategic intent to advance national interest, despite being opposed by powerful foreign and domestic actors. While some critics focus on his association with Malabu, they fail to assess the broader structural changes he made possible. Etete laid the groundwork for local ownership of Nigeria's most vital economic sector. He empowered Nigerian entrepreneurs, defended the rights of marginalized communities, and helped reposition Nigeria on the global oil map—not merely as a supplier, but as a sovereign participant. Restoring a distorted legacy At 80 years old, Chief Dan Etete remains one of the most misunderstood and misrepresented figures in Nigeria's modern economic history. Yet, his legacy is evident in every local oil company that thrives, every Nigerian engineer that works offshore, and every government policy that prioritizes domestic capacity over foreign Nigeria looks to the future—with energy transition, climate change, and economic diversification at the forefront—it must not forget the shoulders it stands upon. Etete's boldness, foresight, and unwavering belief in Nigeria's potential deserve acknowledgment, not vilification. It is time to tell the full story of Chief Dan Etete: not as a footnote in controversy, but as a patriot and pioneer who helped reclaim Nigeria's economic destiny from the grip of foreign dominance.


Zawya
29-05-2025
- Zawya
Shell Egypt celebrates Egypt's young innovators after supporting over 1,000 entrepreneurs through Shell Egypt Intilaaqah Programme
RELATED TOPICS SME RELATED COMPANIES Shell Flat6labs Cairo, Egypt – Shell Egypt, in collaboration with Flat6Labs Egypt, celebrated the outstanding achievements of Egypt's young entrepreneurs during the Intilaaqah Annual Awards Ceremony, marking the successful conclusion of a transformative cycle that trained, supported, and empowered more than 1,000 aspiring innovators in 3 Egyptian governorates. Throughout this cycle, the Shell Intilaaqah Egypt Programme provided hands-on entrepreneurial training, ideation sessions, and business development support to youth from diverse regions. More than 120 startups' teams benefited from intensive mentorship and capacity-building initiatives including bootcamps, incubation activities, and matchmaking sessions, helping them refine their business ideas, strengthen their operations, and prepare for investment. Empowering Egypt's Next Generation of Entrepreneurs Dalia Elgabry, Vice President and Country Chair, Shell Egypt, commented: 'We are incredibly proud of the tangible impact that Shell Intilaaqah Egypt Programme has achieved this year. At Shell, powering lives means providing energy, while creating opportunities for people to thrive. Our global strategy, Powering Progress, is built on driving sustainable development, supporting local communities, and accelerating human potentials. By nurturing Egypt's young entrepreneurs, we are investing in the country's long-term economic resilience, innovation ecosystem, and inclusive growth. Through this programme, we continue to deliver on our commitment to fostering meaningful opportunities for young people and communities across Egypt.' The programme launched with a series of bootcamps held in Cairo, Alexandria, and Beheira, alongside an online bootcamp to expand accessibility. Participants engaged in intensive sessions focused on developing an entrepreneurial mindset, understanding customer needs through empathy mapping, crafting compelling value propositions, and building robust business models. Recognizing the Top Innovators Following the success of the bootcamps, the Shell Intilaaqah Egypt Programme introduced two dedicated tracks in March 2025: Best Idea Programme – Focused on nurturing early-stage concepts Best Startup Programme – Designed to support growth-stage startups in enhancing investment readiness and scaling operations Both tracks culminated in competitive judging days, where six standout teams were awarded financial prizes to accelerate their business development and growth. Best Idea Programme Winners: Fast octopus BananaMed Gremrem Best Startup Programme Winners: Oz Tech Bekya Pay Croptimus Hany Al Sonbaty, Chairman and Co-Founder of Flat6Labs, emphasized: 'The energy, creativity, and determination we witnessed throughout this programme are truly remarkable. Together with Shell Egypt, we have helped build a pipeline of promising young businesses ready to tackle real-world challenges and drive sustainable economic growth in Egypt. It lies at the core of what drives Flat6Labs, in Egypt and abroad, to maintain its commitment to nurturing and scaling the big ideas of tomorrow.' Driving Sustainable Development and Innovation Through initiatives like the Shell Intilaaqah Egypt Programme, Shell Egypt continues to align with Egypt's Vision 2030 and the United Nations Sustainable Development Goals by investing in youth, innovation, and entrepreneurship. The company's broader Social Investment portfolio, developed in collaboration with national and international partners, underscores its commitment to creating a lasting positive impact across the country. About Flat6Labs: Flat6Labs is the MENA region's leading seed and early-stage venture capital firm, currently running the most renowned startup programs in the region. Flat6Labs invests in innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders. Flat6Labs manages a number of seed funds with a total AUM in excess of $85M. More than 25 leading institutions have invested into the Flat6Labs managed funds; believing in the asset class and Flat6Labs' proven track record as the market leader. Flat6Labs provides a wide range of investment ticket sizes ranging from $50K to $500k, supporting startups through their early journeys from Pre-Seed all the way to Pre-Series A stages. Alongside the investments, Flat6Labs' exceptional startup programs, executed to cater specifically for the needs of the innovative entrepreneurs, helps them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors and corporates. Launched and headquartered in Cairo since 2011, Flat6Labs has multiple offices across the region; with ongoing plans to expand into other emerging markets. For more information, visit Media Enquiries Heba El Karrar Social Investment Lead Shell Egypt N.V. Middle East & North Africa Media Relations Cautionary note The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement 'Shell', 'Shell Group' and 'Group' are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words 'we', 'us' and 'our' are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', 'Shell subsidiaries' and 'Shell companies' as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as 'joint ventures' and 'joint operations', respectively. 'Joint ventures' and 'joint operations' are collectively referred to as 'joint arrangements'. Entities over which Shell has significant influence but neither control nor joint control are referred to as 'associates'. The term 'Shell interest' is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. Forward-Looking Statements This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as 'aim', 'ambition', ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'', ''goals'', ''intend'', ''may'', 'milestones', ''objectives'', ''outlook'', ''plan'', ''probably'', ''project'', ''risks'', 'schedule', ''seek'', ''should'', ''target'', ''will'' and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2022 (available at and These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, 29 May, 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement. Shell's net carbon intensity Also, in this announcement we may refer to Shell's 'Net Carbon Intensity', which include Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell's 'Net Carbon Intensity' is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries. Shell's net-Zero Emissions Target Shell's operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell's operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target. Forward Looking Non-GAAP measures This announcement may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements. The contents of websites referred to in this announcement do not form part of this announcement. We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website LEI number of Shell plc: 21380068P1DRHMJ8KU70 Classification: Additional regulated information required to be disclosed under the laws of a Member State