Arab Finance: Prime Minister Mostafa Madbouly has followed up on the government's coordinated efforts to secure the financial resources needed to meet the state’s demand for petroleum products, according to a statement.

Madbouly confirmed the finalization of settling outstanding dues owed to foreign partners in the petroleum sector, noting that the move would support higher oil and gas production levels and boost investor confidence in Egypt’s business environment. This is also expected to encourage additional capital inflows and attract new investments into the energy sector, backing the government's objectives of expanding local production.

During the meeting, Petroleum and Mineral Resources Minister Karim Badawi noted that the full settlement would accelerate the implementation of various projects, backing the state's objectives to cut the gap between production and consumption.

Badawi added that the ministry is working to implement a comprehensive vision focused on maintaining reliable energy supplies for citizens and economic sectors while simultaneously expanding investments and increasing oil and gas output.

For his part, Minister of Finance Ahmed Kouchouk affirmed the ministry’s commitment to supporting key economic and productive sectors, particularly the energy industry.

Kouchouk noted that the fiscal year (FY) 2026/2027 budget includes substantial allocations for energy subsidies, alongside measures to secure the financial resources necessary to secure stable energy supplies.

During his recent visit to the liquefied natural gas (LNG) import facilities at Ain Sokhna, Badawi asserted that Egypt enjoys an integrated and flexible natural gas supply system capable of securing sufficient energy supplies throughout the summer season.