BP targets 1 tcf in Mediterranean gas exploration as first phase of USD 1.5 bn investment plan

Good morning, friends.

Starting with Obelisk:

And new tourism targets are here:

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Three wells, one target

BP is chasing a 1 tcf prize in the Mediterranean:

REMEMBER- exclusively reported in June cleared its USD 6.1 bn arrears

Four sizes for the tax tab

The government’s tax-backed sukuk offering will come in four denominations

The ministry plans to stagger the rollout through annual issuances

REMEMBER- unveiled earlier this week governing rules are due within three weeks

One rate for the rails

The Finance Ministry has standardized VAT on imported monorail and high-speed rail rolling stock at 5%

The clarification settles inconsistent treatment at Alexandria Customs.

REMEMBER- already running trial operations EGP 19.3 bn into the authority

40.2 GW — that’s the new peak reached by the country’s national electricity grid yesterday, 12 August own projections statement

Circle your calendar

Cityscape Egypt Summit 2026 lands in the New Capital on 7 September 15th Cityscape Egypt exhibition

WEATHER- It’s below 40, but still hot in Cairo today

It’s breezier in Alexandria

And over the weekend

The big story abroad

In the absence of a major update on the regional war

US inflation in July was moderate: indicated

Bank of America has its eyes on the booming Indian economy agreeing to acquire

Putting a price on the Truth (Social): hit with a lawsuit