Egypt reduces foreign oil companies’ dues to $440mn, says petroleum minister

AfrOil - Africa Oil & Gas
MEOG - Middle East Oil & Gas
REM - Renewable Energy
By bna Cairo bureau 20 May 2026
Egypt has reduced outstanding payments owed to foreign oil companies from $6.1bn at the end of June 2024 to $440mn currently, according to a statement from the Ministry of Petroleum and Mineral Resources
Putin was hoping to sign off on the Power of Siberia 2 gas pipeline deal with Xi while in Beijing. It didn't happen.

Putin leaves Beijing with no Power of Siberia pipeline deal

FSUOGM - Former Soviet Union Oil & Gas
By Ben Aris in Belrin 20 May 2026
Vladimir Putin arrived in Beijing on May 20 hoping that the Iran war's disruption to global energy markets would finally give him the leverage to close one of the most consequential energy deals of his presidency. He left empty handed.
The windfall from the upward pressure on oil prices is starting to be felt by the Russian budget, which is expecting revenues to rise by 40% in May. d

Russia oil and gas revenues up 40% in May on Iran war pressures

FSUOGM - Former Soviet Union Oil & Gas
By Ben Aris in Berlin 20 May 2026
Russia’s oil and gas revenues are expected to jump 39% year on year in May to about RUB700bn ($9.8bn), buoyed by higher global crude prices driven by the conflict involving Iran, according to Reuters calculations published on May 20.

Fitch expects strong expansion in Egypt’s renewable energy capacity by 2035

REM - Renewable Energy
By bna Cairo bureau 20 May 2026
Fitch Ratings said it is optimistic about Egypt’s power sector between 2025 and 2035, projecting significant growth in electricity generation capacity driven by large investments in renewable energy projects
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