Egypt is looking at USD 19 bn investments in oil and gas over three years

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Global energy giants committed to spending USD 19 bn on exploration, drilling, and production in petroleum projects in Egypt over the next three years, according to a statement from Prime Minister Mostafa Madbouly. The pledges come as Egypt’s government has a strict mandate to clear international oil companies’ arrears by next month, after cutting down its arrears to USD 714 mn from USD 6.1 bn previously

Who’s writing the checks? Italy’s Eni is leading the pack with a USD 8 bn commitment, followed by BP (USD 5 bn), the US’ Apache (USD 4 bn), and the UAE’s Archios (USD 2 bn).

Armed clashes force temporary shutdown of Libya’s main refinery: Libya’s largest oil refinery in the city of Zawiya (40 km west of Tripoli) resumed operations yesterday after a two-day shutdown following armed clashes in its vicinity. The clashes in the area saw projectiles land in the complex, leaving some minor damage and prompting the Azzawiya Oil Refining Company to evacuate personnel and tankers from the region.

The clashes are yet another reminder of the fragile security situation in Libya, but do not constitute a serious major escalation in conflict between the country’s main competing camps, as they were primarily between local players. Libya is a net importer of refined petroleum products, and a shutdown of some of the few functioning refineries in the country traditionally weighs heavily on local market supplies.

Sign of the times

Emirati logistics giant DP World is rolling out ins. coverage for cargo traveling through regional trade routes, with the firm saying in a statement that coverage will be available across multi-modal options, and unlike other policies, which leave gaps for storage and inland transport operations, will cover the whole supply chain operation. The policy covers damage and physical losses caused by war-linked events, and coverage limits of USD 400 mn for shipping and USD 1 mn for inland operations.

This is the UAE taking matters into its own hands to help encourage global logistics firms to continue to operate in the region. Standard commercial ins. policies often have war exclusion clauses that mean coverage can be canceled with just seven days' notice. DP World is providing a safety net that allows trade to continue even when geopolitical tensions rise.

Wynn Resorts’ CEO Craig Billings confirmed that the launch of its USD 5.1 bn Wynn Al Marjan Island project in Ras Al Khaimah will be pushed back from its original early 2027 opening timeline. Speaking during the firm’s 1Q 2026 earnings call, Billings described the shift as a “modest delay” following logistics disruptions and shipping constraints on the back of the regional war, but stopped short of specifying a new opening date. Tensions had forced rerouting of materials and alternative sourcing, which he said has added to costs.

ICYMI- Rival MGM Resorts’ Dubai mega-project is still on track for a 3Q 2027 opening, despite MGM Resorts CEO Bill Hornbuckle saying visitor activity to the region was likely to dip around 15%.