{
  "id": 3038691,
  "title": "Egyptian-UAE free zone for oil storage and trading established in New Alamein",
  "url": "https://urgent.news/2026/08/24/egyptian-uae-free-zone-for-oil-storage-and-trading-established-in-new",
  "topic": "world",
  "section": "World",
  "published": "2026-08-24T14:25:52.000Z",
  "source": {
    "name": "Middle East Eye",
    "slug": "middle-east-eye",
    "url": "https://www.middleeasteye.net/news/egypt-establishes-uae-linked-oil-company-new-alamein-free-zone"
  },
  "original_language": "en",
  "account": "Egypt and the United Arab Emirates have inaugurated a 738,000-square-meter free zone in New Alamein, designed for the storage and trading of crude oil and petroleum products. The project, known as Fujairah Alamein Oil and Gas Company, is located on Egypt's Mediterranean coast in the northwestern governorate of Matrouh. According to a statement from the Ministry of Investment and Foreign Trade, the company must export all of its annual production to international markets, with at least 50 percent of components in any manufactured products sourced locally. The zone also requires legal possession of the project site, environmental approval from the Egyptian Environmental Affairs Agency, and compliance with industrial safety, civil defence, and fire-protection standards. The establishment of the free zone follows three agreements signed in 2025 between Egyptian authorities and the Emirate of Fujairah, focusing on the development of the Fujairah-Alamein logistics zone, expansion and modernization of El-Hamra Port, and other initiatives to strengthen Egypt's role as a regional energy hub. In April 2026, Egypt's crude oil exports reached $115.3 million, an increase of $15.6 million compared to the same month a year earlier, while exports of petroleum products rose by $181 million year-on-year to $585.2 million. The government aims to increase oil and gas exploration and production activity by 20 percent in 2026 and expand its capacity for processing and exporting refined products.",
  "summary": "Egyptian-UAE free zone for oil storage and trading established in New Alamein Submitted by MEE staff on Mon, 08/24/2026 - 13:51 Fujairah Alamein Oil and Gas will operate a 738,000-square-metre zone for storing and trading crude oil and petroleum products on Egypt’s Mediterranean coast New Alamein City project photo as published by Egypt's presidency in 2018 (presidency.eg) Off Egypt has completed…",
  "key_points": [
    "738,000-square-meter free zone inaugurated in New Alamein for oil storage and trading.",
    "Fujairah Alamein Oil and Gas Company must export all annual production internationally.",
    "Free zone established following 2025 agreements on logistics zone and port expansion."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}