{"id":582092,"date":"2023-02-13T00:00:00","date_gmt":"2023-02-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/this-morning-egyps-rolls-on-egx-sfe-and-el-sisi-all-in-the-gulf\/"},"modified":"2023-02-13T00:00:00","modified_gmt":"2023-02-13T00:00:00","slug":"this-morning-egyps-rolls-on-egx-sfe-and-el-sisi-all-in-the-gulf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/this-morning-egyps-rolls-on-egx-sfe-and-el-sisi-all-in-the-gulf\/","title":{"rendered":"THIS MORNING: EGYPS rolls on + EGX, SFE, and El Sisi all in the Gulf"},"content":{"rendered":"

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Good morning, wonderful people, and a very happy Monday. <\/span><\/p>\n

THE BIG STORY here at home this morning: Privatization is still getting top billing<\/span> on <\/span>news that the state could offer 20-30% of its new hotels company to strategic investors, while Public Enterprises Minister Mahmoud Esmat made an appearance at the House of Representatives to defend the liquidation of some failing public companies. <\/span><\/p>\n

WATCH THIS SPACE- Following a quiet period after COP27, we now expect our hydrogen <\/span>ambitions to return to <\/span>center stage before Ramadan. <\/span>The Madbouly government\u2019s<\/span> <\/span>national hydrogen strategy<\/a><\/span> is just about ready, two <\/span>sources <\/span>with first-hand knowledge of the process tell us. One source expects the government to release the <\/span>highly anticipated strategy<\/a><\/span> between the end of this month and early next, while another says it should wrap up some time in March. <\/span><\/p>\n

REFRESHER- The strategy is a key milestone for developers who have signaled interest <\/span>in the Sisi administration\u2019s world-scale hydrogen program<\/span>, which would demand the investment of some USD 40 bn in renewable energy alone to generate the 40 GW of power needed if every project now on the drawing board makes it to implementation. The state has inked framework agreements worth c. USD 85 bn for green hydrogen and ammonia plants. <\/span><\/p>\n

THE BIG STORY ABROAD- All eyes are on the sky this morning after US fighter jets <\/span>shot down another flying object<\/span> over North American airspace. The international press is trying to figure out what the latest objects were (spoiler alert: probably not spaceships) and what the apparent sudden proliferation of UFOs \u2014 the first of which was a suspected Chinese spy balloon \u2014- means for tensions between China and the US. <\/span>The shootdown is the fourth in the past week. <\/span>(<\/span>WSJ<\/a><\/span> | <\/span>Financial Times<\/a><\/span> | <\/span>Bloomberg<\/a><\/span> | <\/span>New York Times<\/a><\/span> | <\/span>Reuters<\/a><\/span>.)<\/span><\/p>\n

It\u2019s a big night \/ morning for the \u201cother\u201d football: <\/span>The US football Super Bowl was ongoing as we got ready to hit \u201csend\u201d on this morning\u2019s issue, with the Philadelphia Eagles leading Kansas City Chiefs 27-21 at the end of the third quarter.<\/span><\/p>\n

HAPPENING TODAY-<\/span><\/p>\n

SMART POLICY- Officials are on a three-front push this week to drum up strategic and portfolio investment from the Gulf:<\/span> <\/span><\/p>\n

The <\/span>UAE and Saudi Arabia leg of the EGX roadshow<\/a><\/span> kicks off today<\/span>, <\/span>Al Mal<\/a><\/span> reports <\/span>citing sources it says are in the know. R<\/span>epresentatives of the bourse, the Financial Regulatory Authority and the central bank are visiting the two countries to drum up interest as the state gears up for a number of <\/span>potential IPOs<\/a><\/span> this year under its privatization program. EGX head Rami El Dokany will meet with unnamed foreign funds in Saudi Arabia, Dubai, and Abu Dhabi, and discuss potential dual listings on the EGX with unnamed Saudi and Emirati companies, according to Al Mal. The roadshow, which is being managed with the help of Al Ahly Pharos, <\/span>kicked off in October<\/a><\/span>. <\/span><\/p>\n

President Abdel Fattah El Sisi <\/span>yesterday landed<\/a><\/span> in Abu Dhabi,<\/span> where he held bilateral tal<\/span>ks with UAE President Sheikh Mohammed bin Zayed Al Nahyan ahead of attending the <\/span>World Government Summit<\/a><\/span> in Dubai<\/span>.<\/span> Meanwhile, <\/span>Planning Minister Hala El Said is <\/span>leading a business delegation<\/a><\/span> to several Gulf countries along with Sovereign Fund of Egypt (SFE) head Ayman Soliman to drum up interest in the state offering program. <\/span><\/p>\n

OUT OF EGYPS- <\/span><\/p>\n

The Egypt Petroleum Show (EGYPS) kicked off yesterday and continues through Wednesday.<\/span> <\/span>Here are the highlights from day one:<\/span><\/p>\n

<\/span>Three oil tenders in 2023: <\/span>The state is planning to offer three international gas and oil <\/span>exploration tenders this year, Oil Minister Tarek El Molla said during his opening statement on the first day of the three-day Egypt Petroleum Show (EGYPS), (<\/span>watch, runtime: 7:43<\/a><\/span>.<\/span>) The ministry kicked off an international oil and gas tender for 12 exploration blocks in the Mediterranean and Nile Delta at <\/span>the end of last year<\/a><\/span> as it works to boost output for export. <\/span><\/p>\n

Ramping up exploration: <\/span>\u201cAn ambitious plan has been developed with international partners until 2025 to <\/span>drill<\/span> over 300 exploration wells,\u201d<\/span> El Molla added. <\/span><\/p>\n

El Molla sat down with his Israeli counterpart Israel Katz <\/span>to discuss joint efforts to <\/span>boost gas exports to Europe, marking Katz\u2019 first visit to Egypt, according to a <\/span>statement<\/a><\/span>from the Oil Ministry. El Molla praised the potential of the <\/span>US-brokered maritime demarcation<\/a><\/span>between Israel and Lebanon to open up more gas discoveries in the region. The pair also discussed <\/span>Chevron\u2019s role<\/a><\/span> in boosting output from both countries. <\/span><\/p>\n

REMEMBER- El Molla and Katz are <\/span>scheduled for a meeting<\/a><\/span> with EU Energy Commissioner Kadri Simson <\/span>on advancing an <\/span>agreement to increase gas exports<\/a><\/span> to Europe signed in June between Egypt, Israel and the EU<\/span><\/p>\n

DATA POINT- Oil demand is set to surpass pre-pandemic levels this year<\/span> to reach 102 <\/span>mn barrels a day, <\/span>Reuters<\/a><\/span> reports, citing a speech by OPEC Secretary General Haitham Al Ghais during EGYPS yesterday. Al Ghais said demand is forecast to grow further to 110 mn barrels per day by 2025. <\/span><\/p>\n

^^ EGYPS also made Last Night\u2019s Talk Shows (below).<\/span><\/p>\n

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IN THE HOUSE OF REPRESENTATIVES-<\/span><\/p>\n

MPs are back at it today. Their comparatively workaday agenda includes:<\/span> <\/span><\/p>\n