Minister of Petroleum and Mineral Resources Karim Badawi met on Friday with leaders of the petroleum and mining sectors to review progress and chart priorities for the coming period.
Badawi said the ministry has put in place a comprehensive strategic plan to boost output, maximise resource utilisation, and address key challenges. He pointed to the tangible results achieved in recent months, noting that measures such as offering investment incentives to partners and ensuring the prompt settlement of their dues have spurred a surge in investment.
According to the minister, these efforts have saved the state an estimated US$3.6 billion in fuel import costs during the 2024/2025 fiscal year.
He also highlighted the successful completion of LNG import infrastructure, anchored by a robust regasification fleet with a daily capacity of 2.25 billion cubic feet. The project, executed with the participation of 1,500 workers from various sector companies, serves as a safeguard against supply disruptions and delivers benefits for citizens nationwide.
On petrochemicals, Badawi said the sector is driving forward an extensive portfolio of operational and upcoming projects with strong economic and environmental returns, led by the Egyptian Petrochemicals Holding Company. Additional projects, he added, are set to move into the implementation phase.
Turning to mining, the minister described the transformation of the Mineral Resources Authority into an economic authority as a pivotal step designed to deliver a qualitative leap in performance. The aim, he said, is to raise the sector’s share of GDP from less than 1% to 6% within three years.
