Egypt’s gas production drops to eight-year low

Egypt’s natural gas production fell to 4.3 billion cubic feet per day in January, a 20% year-on-year decline and its lowest level since 2016, according to the Middle East Economic Survey as reported by Egyptian media. Despite new projects by BP and Dana Gas, analysts doubt Egypt will meet its 2025 production target of 6 bcf/d. Meanwhile the country’s oil output hit a 40-year low, dropping to 523,000 barrels per day.