Egypt’s oil output has been in gradual decline since the end of 2015, and this trend has continued into 2025. Output for Q1 slumped 3% sequentially and 7% year-on-year to a new 40-year low 518,000 b/d for Q1 as Cairo scrambles to agree new financially incentivized contractual terms with producers in an effort to boost activity and with it output (MEES, 16 May).
Key Western Desert producer US firm Apache has benefitted from a 40% hike in the price it receives for gas which has stemmed the decline in gas output from the region (MEES, 21 May). But for oil, the decline is likely to continue until larger pledges of investment are made. (CONTINUED - 285 WORDS)