ENERGY-

#1- UK-based oil and gas giant Shell and Malaysia’s Petronas aim to produce 200 mn cubic feet per day (mcf/d) of natural gas in 2025 from concession areas in Egypt’s Mediterranean, unnamed government officials told Asharq Business. One official said that Shell will add 60 mcf/d to its output starting next month from a new well in the Burullus concession and 140 mcf/d from its new West El Burullus concession over two phases — the first will begin production in July, followed by the second in September.

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REMEMBER- Shell is investing USD 300 mn, alongside Petronas, in its ongoing drilling operations in the West Delta Deep Marine concession as part of its 11th phase. Shell started production from one well in the concession in October, producing 30-40 mcf/d.

#2- Adnoc Distribution is planning to start producing marine engine oil in Egypt in partnership with TotalEnergies by 4Q this year, VP of Lubricants, Base Oils, and Specialty ProductsVP Saber Al Ammari told Asharq Business. The company has a sales target of 1.5-2 mn liters in Egypt by year-end, Al Ammari added.

REMEMBER- After making an entrance into Egypt as recently as 2023 through the acquisition of a 50% stake in fuel retailer TotalEnergies Egypt, the company has been quickly expanding both its number of service stations — currently standing at 240 — and its local manufacturing of oils. After kicking off the local manufacture of motor oil at the end of 2024, the company is now also pursuing the manufacturing of aviation fuel and entering the EV charging market.

DEBT-

Juhayna secures EGP 1.9 bn from CIB: Local dairy giant Juhayna secured USD 31.6 mn and EGP 255 mn in medium-term funding from the CIB under a six-year loan, according to an EGX disclosure (pdf). The funds will finance a new citrus production line as part of the company’s efforts to expand its concentrate business.

REAL ESTATE-

Marakez taps Nawy Unlocked to streamline property renting: Real estate developer Marakez inked a strategic agreement with Nawy Unlocked, the property management arm of local proptech platform Nawy, to help owners of Marakez units rent out their properties hassle-free, according to a statement (pdf). Under the partnership, Nawy Unlocked “will handle everything from interior finishing and furnishing to tenant acquisition, ongoing property management, and maintenance.”

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