logo
UAE energy giant ADNOC to inaugurate new state-of-the-art service station in New Cairo in 2025 - Energy

UAE energy giant ADNOC to inaugurate new state-of-the-art service station in New Cairo in 2025 - Energy

Al-Ahram Weekly18-02-2025
UAE's energy giant ADNOC Distribution plans to open a new state-of-the-art service station in New Cairo in 2025, featuring an expanded ADNOC Oasis convenience store and a broader range of automotive services.
ADNOC made the announcement on Tuesday during Egypt's largest Energy Show, EGYPES 2025, held from 17 to 19 February at Al-Manara International Conference Centre in New Cairo.
Key players in the energy sector worldwide are participating in this event.
Founded in 1971, ADNOC is a leading diversified energy group owned by the Abu Dhabi Government.
The announcement coincided with ADNOC Distribution and TotalEnergies' celebration of the second anniversary of their successful joint venture in TotalEnergies Marketing Egypt (TEME).
The new station will complement the 11 existing ADNOC-branded stations in the country, reflecting the company's commitment to providing industry-leading customer experiences.
Additionally, ADNOC's Voyager lubricants, blended locally by TEME, will soon be available through independent distributors, expanding their reach beyond ADNOC Distribution stations.
ADNOC stressed that this move highlights Egypt's growing potential as an export-focused manufacturing hub.
Meanwhile, TEME aims to enhance its future presence in Egypt's aviation fuel market, capitalizing on its strategic role as a transport and tourism hub in North Africa and beyond.
Both companies reaffirmed their commitment to supporting Egypt's energy needs, fostering economic growth, and delivering world-class services.
Through continued expansion of its retail network and investments in local manufacturing, TEME is positioned to play a vital role in Egypt's energy landscape, promoting sustainability and economic development in the future.
A journey of success!
In 2023, ADNOC Distribution acquired a 50 percent stake in TEME, which operates over 240 fuel retail sites nationwide and has wholesale, aviation fuel, and lubricant blending operations. This acquisition enabled ADNOC to introduce its retail fuel and Oasis convenience store brands to the Egyptian market.
'The ongoing success of our TEME joint venture demonstrates the value of our international expansion strategy in driving growth. Egypt's significant economic potential is a key part of our journey, and we are proud to deliver innovative solutions and exceptional customer experiences aligned with our vision for regional leadership,' said Bader Saeed Al Lamki, CEO of ADNOC Distribution.
'This partnership underscores our mutual dedication to strengthening Egypt's energy solutions. We recognize the immense potential of the Egyptian market and are committed to fostering sustainable growth,' according to Thomas Strauss, managing director and country chair of TEME.
Short link:
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egyptian FM Praises Egyptian Community in Senegal for Strengthening Bilateral Ties
Egyptian FM Praises Egyptian Community in Senegal for Strengthening Bilateral Ties

See - Sada Elbalad

time28 minutes ago

  • See - Sada Elbalad

Egyptian FM Praises Egyptian Community in Senegal for Strengthening Bilateral Ties

Taarek Refaat Egypt's Minister of Foreign Affairs and Immigration, Badr Abdel Aaty, lauded the Egyptian community in Senegal on Friday for their vital role in deepening ties between the two nations and for their active contributions to Senegalese society across various sectors. Speaking during a meeting with members of the Egyptian diaspora in Dakar as part of his official visit to the West African nation, Abdel Aaty commended the community's efforts in fostering bilateral cooperation and enhancing Egypt's presence in the region. The minister highlighted Egypt's ongoing commitment to modernizing its consular services and embracing digital transformation. He revealed that the Ministry of Foreign Affairs and Immigration is currently upgrading the technological infrastructure in embassies and consulates, aiming to deliver more efficient, user-friendly services through advanced online platforms. As part of these efforts, Abdel Aaty announced the launch of a new mechanism to accelerate the issuance of computerized birth certificates and highlighted a cooperation protocol recently signed with the National Postal Authority. The agreement aims to decentralize document authentication services by offering them through local post offices, especially in underserved and remote areas, to reduce congestion and simplify procedures. The minister also presented several initiatives the Egyptian government has introduced to support its expatriate population. These include the "Import Your Car" initiative, the military service settlement program, and the 'Your Home in Egypt' project in cooperation with the Ministry of Housing, which allocates ready-to-move-in residential units to Egyptians living abroad. Additionally, he underscored the ongoing collaboration with the Central Bank of Egypt to help expats open domestic bank accounts, thereby broadening their access to investment and financial services within their homeland. Abdel Aaty reiterated the ministry's dedication to maintaining open communication with Egyptian communities around the world. He confirmed that preparations are underway for the sixth edition of the Egyptians Abroad Conference, scheduled for August 3–4, 2025. The event will serve as a key platform for dialogue between diaspora members and senior Egyptian officials. 'This conference is essential in shaping policies that reflect the aspirations of Egyptians living overseas,' he said, emphasizing the importance of incorporating their perspectives into national development strategies. During the meeting, the minister welcomed questions and suggestions from community members, assuring them that the ministry is attentive to the challenges they face and is working closely with relevant authorities to address them. 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 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 Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Real Madrid's Contract Talks with Vinícius Jr. Hit New Stalemate
Real Madrid's Contract Talks with Vinícius Jr. Hit New Stalemate

See - Sada Elbalad

time2 hours ago

  • See - Sada Elbalad

Real Madrid's Contract Talks with Vinícius Jr. Hit New Stalemate

Rana Atef On Friday, media reports provided a new update about the situation of Brazilian star Vinicius Jr. and Real Madrid, as the negotiations between both sides are still in progress. Earlier in the summer, it was reported that Vinicius has a verbal agreement with Los Blancos over a new deal which is expected to be a long-term one. However, a recent report from Cadena SER has highlighted that there are several disagreements between Real Madrid and Vinicius. As per the report, Vinicius' key demand was to be equated with Kylian Mbappe in terms of salary, which is rejected by the club. Real Madrid's refusal caused a stalemate in negotiations, as the club didn't plan to offer Vinicius such a huge salary. If no agreement is reached between the two clubs this summer, Real Madrid could be open to selling the Brazilian international, especially with Saudi Arabia proposing an offer worth €200 million. read more Japan Stun Spain 2-1 to Qualify for World Cup Last 16 World Cup 2022: Get to Know Confirmed Line-ups of Japan and Spain Group E Decider Saudi Arabia Bid Farewell to World Cup after 2-1 Loss to Mexico Tunisia Achieve Historic Win over France but Fail to Qualify Tunisia to Clash against France in World Cup Sports Get to Know Squad of Group D Teams in World Cup Sports Al Ahly Gift EGP 70,000 to Players After Claiming Egyptian Super Cup Title Sports Bencharki Hits First 2 Goals with Al Jazira Since Leaving Zamalek Sports Arsenal Possible Line-up for Nottingham Forest 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 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 Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Unleashing mining potential - Economy - Al-Ahram Weekly
Unleashing mining potential - Economy - Al-Ahram Weekly

Al-Ahram Weekly

time3 hours ago

  • Al-Ahram Weekly

Unleashing mining potential - Economy - Al-Ahram Weekly

Egypt's mining sector has recently been in the limelight with a set of new exploration agreements and production increases, not only for gold, which is the most actively looked for mineral, but also phosphates and iron and other lesser-known minerals to the public like white sand. The Egypt Mining Forum 2025, which took place last week, saw agreements finalised for more gold exploration with AngloGold Ashanti, which bought Centamin and is now the operator of the Sukari Gold Mine, as well as Canada's Barrick Mining Corporation. 'Egypt is open to all forms of investment, with a particular focus on empowering Egyptian, regional, and international investors, and we stand ready to allocate additional areas for exploration and prospecting across all mineral types, reaffirming our unwavering commitment to expanding growth opportunities within the mining sector,' Minister of Petroleum and Mineral Resources Karim Badawi said. A $658 million phosphoric acid complex is currently under construction in the New Valley governorate due to a contract between a consortium of Egyptian companies and two Chinese entities. Phosphoric acid is used in many industries, the most important of which is fertilisers. The complex has an estimated production capacity of 900,000 tons annually. 'This clearly demonstrates the strong desire of international companies to expand their investments in the Egyptian mining sector, which serves as proof of major international companies' confidence in Egypt's investment climate, reflecting the success of the state's policy in attracting foreign investments,' Badawi said. Egypt recorded $446 million in revenues from mineral wealth development in the 2025 year to date, marking a 131 per cent increase compared to the previous year, Badawi told the forum attendees. The increased interest follows government efforts to streamline the sector by amending the mining law and introducing investment-friendly changes in the formula of sharing costs and profits with explorers. The most recent move was parliament's approval of a bill changing the status of the Egyptian Mineral Resources Authority (EMRA) to that of an economic authority with its own independent budget. The draft law establishes a regulatory framework modeled after the structure of Egypt's General Petroleum Corporation (EGPC), with the goal of simplifying procedures and improving flexibility so that mineral resources can be developed more efficiently and competitively. 'The swift alignment of the mining legislation with international best practice demonstrates unprecedented institutional collaboration. The unified commitment across Government, Parliament, and industry to defined timelines has enabled us to enact critical reforms that will drive sustainable growth in Egypt's mining sector,' said Hoda Mansour, Managing Director and Vice Chair of Sukari Gold Mines, representing AngloGold Ashanti during the forum. MP Mohamed Ismail, who submitted the demand to change the EMRA to an independent economic entity, noted that as a public service authority it is under fragmented oversight, reporting financially to the ministries of planning and finance and technically to the Ministry of Petroleum. This administrative and organisational distortion, he told the House of Representatives, has constrained the authority's performance and led to the mining sector contributing less than one per cent to the country's GDP. EMRA, now known as the Mineral Resources and Mining Industries Authority, will keep 65 per cent of its annual profits and transfer the remaining 35 per cent to the state treasury. Ismail expected the change to mark a turning point for the industry and to increase government revenues from LE2 billion to LE12 billion annually within seven years, raise the sector's GDP share to six per cent in five years, and boost exports from $1.5 billion to $7 billion within a decade. A closer look at the sector reveals that gold still attracts the lion's share of investment. A Fitch Solutions report issued early last year pointed out that in March 2021, the former minister of petroleum and mineral resources, Tarek Al-Molla, had announced that Egypt aimed to become a world-class mining hub, raising its mining exports to $10 billion by 2040, up from $1.6 in 2021. 'While we do not expect export growth to be as strong as these aims, gold production and exports have strong potential. The government is liberalising the gold sector in an attempt to encourage foreign investment, and we expect gold prices to remain high in the coming five years, which will encourage exploration and mine development,' the report noted. According to a government document cited by the news outlet Al-Arabiya, Egypt's gold sector has witnessed remarkable growth, with gold and precious stone exports surging by 74 per cent to reach $2.85 billion in the first 11 months of 2024, up from $1.64 billion during the same period in 2023. While steel makes a lot of news locally owing to the effect of price changes on the construction sector, little attention is given to the volume of production. Egypt, states the Fitch report, is emerging to be Africa's largest steel producer and second-largest producer in the Middle East and North Africa (MENA) region after Iran. Egypt's steel production continued to grow consistently throughout the Covid-19 pandemic, whereas most other countries experienced at least temporary contractions. Crude steel output reached 9.8 million tons in 2022, the second-largest in MENA after Iran. 'We forecast average annual growth of 1.5 per cent over the next decade as the government supports the industry to reduce reliance on imported steel,' Fitch said. During the period between 2019 and 2024, phosphate production saw the highest rate of growth, according to a report prepared by the Egypt Oil and Gas Group, with an annual average of eight million metric tons (mmt) compared to 3.92 mmt in 2019-2020. This reflects intensified mining activity, strategic investment, and strong export demand supporting Egypt's phosphate industry, it said. The Abu Tartur Plateau in the Western Desert is one of the largest and most promising deposits of phosphates, known for high-grade ore and substantial reserves. A detailed study titled 'Phosphate Mining in Egypt: Geology and Sustainable Development' by Mahmoud Zanaty, a geologist at US firm Haliburton, confirms that Egypt possesses four per cent of global phosphate deposits, totalling 2.78 billion tons, and produces six million tons annually, which accounts for three per cent of global output. Phosphates have diverse applications across several industries, creating vast investment opportunities. Industry observers say that in the light of the projected 25 per cent expansion in cultivated land over the next six years, there will be a higher demand for phosphate-based agricultural products, resulting in a vast domestic market. However, high production costs, especially in the Abu Tartour Plateau, which contains approximately one billion metric tons of reserves but with high impurities, represent a challenge for the sector. There is also fierce competition, especially from neighbouring African and Arab countries, such as Morocco, which has the world's largest phosphate reserves, Saudi Arabia, and Jordan. Other minerals highlighted by Egypt's Oil and Gas report showed declining or inconsistent trajectories during the five-year period. Iron production, which averaged 0.05 mmt, dropped sharply by 84 per cent and ceased entirely after 2020-21. 'Egypt's iron production declined sharply due to outdated machinery, heavy financial losses exceeding LE9 billion, inconsistent energy and raw material supplies, and a government decision to liquidate the Egyptian Iron and Steel Company,' the Fitch report said. * A version of this article appears in print in the 24 July, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store