ENERGY-

Adnoc-BP’s joint venture ArciusEnergy is in advanced negotiations to acquire Shell’s 50% stake in the Harmattan gas field in the Mediterranean, Asharq Business reports, citing an unnamed government official.

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The project in a nutshell: In December, BP and Shell signed an agreement with the Egyptian Natural Gas Holding Company to begin production at the Harmattan field by 1Q 2026, with initial investments estimated at USD 370 mn. The field is expected to produce 125 mn cubic feet of gas and 3.3k barrels of condensate daily.

EXPANSION-

Homegrown TBS Holding plans to invest USD 40 mn in the Saudi market over the coming three years, Al Borsa quotes CIO and co-founder Sameh El Sadat as saying. The F&B player had announced that it will open a commercial-scale bakery in Saudi Arabia in partnership with Saudi food and beverage player Shahia Investments under a strategic partnership inked between the two sides.

We have more details on the expansion plans: TBS will allocate USD 10-15 mn to set up its factory — it will hold a minority 49% stake and Shahia will hold the remaining 51%. The company is in talks with two milling firms to set up a USD 15 mn joint snack factory, expected to launch by the end of 2026 and it has plans to further expand its retail presence in the Kingdom with a USD 10 mn investment, El Sadat said.

FINTECH-

Fawry, Contact Financial expand BNPL partnership: Fawry inked a strategic agreement with Contact Financial Holding to integrate Contact’s buy now, pay later (BNPL) service into its 370k+ POS network and online platform, according to a joint statement (pdf). The partnership will also extend to electronic payment solutions, bill collection, and other services.

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