Saudi Arabia Promotes 500 tons of Premium Coffee Beans

A Saudi farmer inspects the crops of his farm in the south of Saudi Arabia (Asharq Al-Awsat)
A Saudi farmer inspects the crops of his farm in the south of Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Promotes 500 tons of Premium Coffee Beans

A Saudi farmer inspects the crops of his farm in the south of Saudi Arabia (Asharq Al-Awsat)
A Saudi farmer inspects the crops of his farm in the south of Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia opened the 10th Saudi Coffee Festival, one of the major marketing outlets for premium coffee beans, referred to as Khawlani, in the Jazan region.

Coffee is an important tourist attraction for the area, highlighting the Kingdom's most mountainous regions and its culture and traditions.

More than 100 farmers are preparing to display more than 500 tons of the finest types of Saudi coffee.

CEO of the Saudi Coffee Festival, Mufarh al-Malki, said that the al-Dayer governorate was delighted to host the annual festival and represent a product that embodies a tremendous economic boon for the Kingdom.

The annual festival is organized by the region's Ministry of Environment, Water, and Agriculture.

Last year, the Public Investment Fund (PIF) launched the Saudi Coffee Company to promote the Kingdom's coffee beans.

PIF said the Company would support the national coffee industry through the entire supply chain and play a key role in developing products in the southern Jazan region, home to the Coffea Arabica.

The Saudi Coffee Company is expected to invest nearly $319 million over the next ten years in the national coffee industry to help boost annual production from 300 to 2,500 tons.

In 2022, Saudi Arabia launched the "Year of Saudi Coffee" initiative under the auspices of the Ministry of Culture to support the Quality of Life Program, one of Vision 2030 programs to focus on creating innovative ideas that promote Saudi coffee.



Egypt Increased Gas, Oil Production in Q3 of 2024

Egyptian Petroleum Minister Karim Badawi speaks at an event hosted by the American Chamber of Commerce in Cairo. (Egyptian Ministry of Petroleum)
Egyptian Petroleum Minister Karim Badawi speaks at an event hosted by the American Chamber of Commerce in Cairo. (Egyptian Ministry of Petroleum)
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Egypt Increased Gas, Oil Production in Q3 of 2024

Egyptian Petroleum Minister Karim Badawi speaks at an event hosted by the American Chamber of Commerce in Cairo. (Egyptian Ministry of Petroleum)
Egyptian Petroleum Minister Karim Badawi speaks at an event hosted by the American Chamber of Commerce in Cairo. (Egyptian Ministry of Petroleum)

Egypt’s Petroleum Minister Karim Badawi announced that his country had increased gas production between July and October 2024, with an extra 200 million cubic feet of gas and 39,000 barrels of crude oil per day.

Speaking at an American Chamber of Commerce event in Cairo, Badawi said the Ministry's strategy to address challenges and speed up development, production, and exploration is showing positive results, with early indicators confirming this progress.

Badawi explained that the Ministry is working to attract more investments in the oil and gas sector, both local and international, to meet domestic demand and reduce import costs.

He also noted efforts to regularly settle payments to foreign partners, offer incentives to boost production, and implement pricing reforms, as well as creating new investment opportunities and working with global partners to cut production costs.

Key developments include the resumption of drilling next month at the Zohr gas field, with two new wells expected to add 220 million cubic feet of gas per day. Gas production at the Raven field in the Mediterranean will also be accelerated in January 2025 with additional investment from BP.

Shell has completed the installation of two new wells in the West Delta, with a third set to follow next month. Agiba Petroleum is speeding up work in the Western Desert, and Apache Corporation is helping to increase gas production in the area.

Looking ahead, Badawi outlined plans to further accelerate production and exploration and improve refining capacity, especially at the expanded Midor refinery.