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The funds will be used to import 300,000 tons of heavy fuel oil and other energy needs.

NGOs and activists looking to attend COP27 in Egypt say they've faced huge hurdles in getting accreditation and finding accommodation.

Increased domestic demand led to a halt in shipments over the summer.

Egypt has witnessed a spike in its energy reserves in 2022, with 53 new oil and gas discoveries

The move would be a huge shift for Egypt, which largely stopped importing LNG in 2018.

Egypt aims to boost exports of liquefied natural gas by roughly 40 percent from 2025.

Egyptian Natural Gas Holding is aiming to import at least one LNG shipment a month through July or August.

EI noted that five key themes emerge from the data.

The U.S. Energy Information Administration and Standard Chartered revealed their latest oil price predictions this week.

The EIA increased its Brent and West Texas Intermediate spot average price forecasts for both 2023 and 2024.