Minister of Petroleum and Mineral Resources, Karim Badawi, participated in the BRICS ministerial meeting, where he highlighted several petroleum-related challenges faced by developing countries.

In his speech, he emphasized the difficulties of achieving development while meeting emission reduction targets, the growing demand for energy, and the limited access to funding for developing nations to implement energy projects and reduce emissions.

He underscored that addressing these challenges requires coordinated efforts and collaboration between governments, international companies, the private sector, and global organizations.

The minister explained that the BRICS countries play a crucial role in shaping the future of global energy, as the economies of the BRICS countries are major emerging economies with a diverse energy mix and unique development challenges, noting the importance of creating job opportunities, promoting social equality and developing skills in the energy sectors

Badawi also stressed that Egypt, as one of the signatories to The Paris Agreement, strongly realizes the importance of climate action, especially in accordance with the principle of common but differentiated responsibilities. He pointed out Egypt’s commitment to a fair and gradual transition in the energy sector.

Furthermore, the meeting discussed the development of the energy sectors in the BRICS countries and priority areas for cooperation in the medium term within the framework of the upcoming extension of the BRICS Energy Cooperation Roadmap and in light of the expansion of BRICS.

The ministerial meeting concluded with an agreement on the final statement of the BRICS energy ministers, which emphasizes the general concepts shared by the BRICS countries including the fair energy transition, achieving energy security, and ensuring access to clean energy, in support of the seventh goal of sustainable development and cooperation to transfer technology.

Following the ministerial meeting, Badawi participated in the Plenary Session of the International Forum of the International Energy Week as a guest of honor, along with the energy ministers of the BRICS member states, in the presence of Russian President Vladimir Putin and the President of Equatorial Guinea.