In 10 May 2016, Business News Foundation is holding its third annual energy conference amid numerous shifts at the local, regional and global levels and in the trends of investment in the energy sector.
This is after the global decline in oil prices in addition to the increased volume of supply, the slowdown in the Chinese economy, the growing trend towards new energy, especially with the climate summit which was held in Paris - December 2015 and its recommendations to reduce heat emission.
The conference comes amid a local market that set a legal framework for the first time to liberate the energy market and invest in new and renewable energy. In addition to signing the Dabaa nuclear power plant convention, the feed-in tariff agreements that have entered into force as well as a comprehensive plan for the development of the electricity sector
management system in Egypt.
The petroleum and mineral resources sector witnesses major developments especially after Italian company Eni has discovered the Mediterranean gas field, the decline of petroleum products subsidies, the establishment of a gas market regulatory agency and the market's anticipation for the regulations of the mineral wealth law.
As an extension of the success achieved in the first and second energy conferences with the participation of the government, the private sector, business organizations, Arab and foreign investors, and local companies, the third energy conference is gaining a special impetus.
This coincides with the government and business focus on investing in energy according to a strategy that ensures diversification of energy sources and sustainable development.
This is in addition to implementing the strategy's panels in an integrated manner to achieve the appropriate energy mix and produce energy from waste which tariff was recently issued.