Security Concerns About Suez Oil Rise After Tanker Drone Strike in Egypt
A drone strike that damaged two gas tankers in Egyptian waters has renewed energy security concerns about the nearby Suez Canal and a related pipeline, a vital export route for Saudi Arabian oil since the beginning of the Iran war.Even as Iran and its Houthi allies have fired on tankers transiting the Strait of Hormuz and Bab el-Mandeb, Egypt's Suez Canal and Sumed pipeline continued to offer safe, northbound export routes for Saudi Red Sea energy cargoes.While no party has claimed responsibility for Wednesday's attack on the tankers at Egypt's port of Damietta…
Egypt Seeks Release of Four Citizens on Tanker Seized by Iran
Egypt said on Wednesday that it is working on securing the release of four citizens who were detained by Iran last month after Tehran seized a foreign tanker on charges of carrying "smuggled fuel" in the Gulf.In a statement, the Egyptian foreign ministry said four Egyptian crew members were currently on board the Reem alKhaleej vessel at Iran's Bandar Abbas port.Iran said last month that it had seized a foreign oil tanker carrying 4 million litres of smuggled fuel near the Iranian island of Qeshm in the Gulf.
Egypt Halts Fertilizer Production In Light of Israeli Gas Disruptions
Egyptian fertilizer producers were forced to halt operations on Friday due to a drop in natural gas imports from Israel, industry sources told Reuters.They said major Israeli gas fields had suspended operations following Israel's military strikes against Iranian nuclear facilities and missile factories.In response, an emergency plan was enacted prioritising gas allocations, including cutting supply to some industries, Egypt’s Petroleum Ministry said in a statement.Power stations have ramped up their use of fuel oil to maximum available levels…
Energy Crunch has Egypt Seeking 40-60 LNG Cargoes
Egypt is in talks with energy firms and trading houses to buy 40-60 cargoes of liquefied natural gas (LNG) amid a worsening energy crunch ahead of peak summer demand, three sources aware of the matter told Reuters.The country faces spending up to $3 billion at current prices to secure the LNG, squeezing government coffers already under strain to keep the lights on amid falling gas production and a cost of living crisis.President Abdel Fattah al-Sisi on Wednesday directed the government to "preemptively take whatever needs necessary to ensure stable electricity flow…
Egypt In Talks to Buy LNG Cargoes Amidst Energy Crunch
Egypt is in talks with energy firms and trading houses to buy 40-60 cargoes of liquefied natural gas (LNG) amid a worsening energy crunch ahead of peak summer demand, three sources aware of the matter told Reuters.The country faces spending up to $3 billion at current prices to secure the LNG, squeezing government coffers already under strain to keep the lights on amid falling gas production and a cost of living crisis.President Abdel Fattah al-Sisi on Wednesday directed the government to "preemptively take whatever needs necessary to ensure stable electricity flow…
Egypt Declares Seven People Dead From Capsized Tourist Boat in November
Egypt has officially declared seven missing people, including five foreigners, dead after a tourist boat capsized off Egypt’s Red Sea coast in November.A decree published in the official gazette on Sunday by the country's prime minister deemed two British and two Polish tourists, along with a German person and two Egyptians dead.The boat, the Sea Story, capsized in November near the Sataya Reef while carrying 31 tourists and 13 crew on a multi-day diving trip. It was struck by high waves and sank in five to seven minutes.
