Minister of Petroleum and Mineral Resources, Karim Badawi, said Egypt has reduced outstanding payments owed to international oil companies (IOCs) from $6.1 billion at the end of June 2024 to about $1.3 billion, with a target to clear the balance entirely by next June.

The African Export-Import Bank (Afreximbank) has approved a $10 billion Gulf Crisis Response Programme (GCRP) to support African and Caribbean Community (CARICOM) economies affected by the ongoing conflict in the Middle East.

The Export-Import Bank of the United States (EXIM) has approved an export credit insurance authorization exceeding $2 billion to support US liquefied natural gas (LNG) exports to Egypt.

Egypt Oil & Gas (EOG) celebrated the 20th anniversary of its establishment, during which it contributed to developing Egypt’s energy sector and reinforcing its presence on the global energy stage.

Minister of Finance Ahmed Kouchouk affirmed ongoing coordination with relevant authorities to secure the basic needs of citizens and the production requirements of investors

Prime Minister Mostafa Madbouly held a roundtable discussion with the executive leaders of international energy companies operating in Egypt and discussed plans to expand investment and boost production.

The ninth edition of the Egypt Energy Show (EGYPES) kicks off on Monday, March 30th, at 2:00 PM, in the presence of President Abdel Fattah El-Sisi.

Prime Minister Mostafa Madbouly rolled out plans to cut fuel allocations for government vehicles by 30% and pause major ongoing projects that consume high levels of fuel and diesel for at least two months.

Egypt signed a package of power purchase agreements (PPAs) covering renewable energy projects and independent power storage (IPS) plants with a total capacity of 5,620 megawatts, in a move aligned with the country’s energy transition strategy.

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi attended the 2025 general assembly meeting of Engineering for the Petroleum and Process Industries (ENPPI) to approve the company’s financial results, as it continues to expand its international footprint.

Egypt lost around $10 billion (EGP 500 billion) in Suez Canal revenues amid regional instability, President Abdel Fattah El-Sisi revealed during the Egyptian Family Iftar held on March 14th.

Prime Minister Mostafa Madbouly explained that the recently announced hikes in fuel prices are a proactive measure to ensure continuous operations of the Egyptian economy and production.

Morgan Stanley has downgraded its view on Egypt to “Equal Weight” from “Overweight,” citing headwinds facing the country as a net oil importer amid rising geopolitical risks across the Middle East.

Egypt’s Ministry of Petroleum and Mineral Resources has implemented a series of proactive measures to secure energy supplies for the local market, with geopolitical tensions escalating in the region.

Minister of Petroleum and Mineral Resources Karim Badawi met with Nasser Saif Al Yafei, CEO of Arcius Energy, to discuss the company’s plans to expand natural gas exploration and production activities in Egypt.

Egypt and Libya signed a memorandum of understanding (MoU) to deepen cooperation in the fields of petroleum, natural gas, and mining.

Karim Badawi, Minister of Petroleum and Mineral Resources, held talks with Frank Witzel, State Secretary at the German Federal Ministry for Economic Affairs and Energy, and discussed cooperation in the domain of energy

The Ministry of Petroleum and Mineral Resources outlined what it described as its most significant achievements in the oil, gas, and mineral resources sector, as part of the implementation of its strategic work program, with a particular focus on boosting exploration and domestic production to meet local demand.

Egypt and Cyprus are pressing ahead with efforts to deepen strategic cooperation in the energy sector, Minister of Petroleum and Mineral Resources Karim Badawi said during a meeting with Polly Ioannou, Ambassador of Cyprus to Cairo.

El Wastani Petroleum Company (WASCO) has completed drilling the North El-Basant-1 exploratory well in the Delta, adding an estimated 15 to 25 billion cubic feet of natural gas reserves based on initial tests, as per a statement by the Ministry of Petroleum and Mineral Resources.