President Abdel Fattah El-Sisi held a meeting with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Karim Badawi, to review the current activities of the Ministry of Petroleum.
During the meeting, the minister presented the ministry’s efforts in production, exploration, and maximizing the value of petroleum through refining and petrochemicals. He also discussed the development of the mining sector and attracting regional investments in the petroleum and gas sectors, in addition to enhancing cooperation with the Ministry of Electricity to provide a balanced energy mix and explore hydrogen production.
The discussion also covered ensuring the citizens’ needs for petroleum products and gas for electricity generation, as well as developments in exploration efforts aimed at increasing reserves and boosting local production. The meeting reviewed efforts to improve gas infrastructure, such as expanding regasification capacity to secure supplies, alongside cooperation with Cyprus to diversify gas sources and activate Egypt’s strategy as a regional gas trading hub.
Furthermore, the meeting addressed the development plan for the mining sector by transforming the Mineral Resources Authority into an efficient economic entity and signing new agreements to exploit mineral wealth with both local and international investors.
President El-Sisi emphasized the importance of creating an attractive investment environment to support local production and reduce imports, with a focus on enhancing discoveries, accelerating production, and increasing incentives to grow the petroleum and mineral resources sectors.
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