China's UEG buys Egyptian oil producer APEX for $157.6 million

United Energy

15/10/2025 12:53

CAIRO, Oct 15 (Reuters) - China's United Energy Group 0467.HK has purchased Apex International Energy, which has eight oil concessions producing 11,000 barrels a day in Egypt's Western Desert, Apex said on Wednesday.

UEG paid about $157.6 million for Apex in the deal which closed on Tuesday, according to the Hong Kong Stock Exchange. Apex has been operating in Egypt since 2016.

 (Reporting by Patrick Werr, Editing by Louise Heavens)

 ((patrick.werr@thomsonreuters.com;))