Egypt's liquefied natural gas (LNG) imports from the US declined to approximately 300,000 metric tons (mt) in May, nearly half its typical monthly intake of around 600,000 mt, Reuters reported, citing maintenance work at major US ports.
Karim Badawi, Minister of Petroleum and Mineral Resources, participated in the first meeting of the Developing Eight (D‑8) Organization for Economic Cooperation, which includes Egypt, Türkiye, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Bangladesh. The meeting aimed at securing energy supplies and expanding joint infrastructure, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Maridive and Oil Services Company reported a 171% increase in net profit after tax in 2025 compared to 2024, to reach $59.3 million. Revenues during the same period climbed 21% to $254.3 million.
Karim Badawi, Minister of Petroleum and Mineral Resources, underscored Egypt's capacity as a vital energy bridge between the Caspian region and Europe. He highlighted the country's strategic geographic position and advanced infrastructure in natural gas, petroleum refining, handling, storage, and export, which collectively reinforce its position as a regional hub for energy trade.
The Minister delivered his remarks during the ministerial session of Baku Energy Week in Azerbaijan's capital, Baku, attended by ministers, senior officials, and energy sector decision-makers from across the globe.
Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, represented the country at the opening of Baku Energy Week, held in Azerbaijan’s capital from 1–3 June. The event was inaugurated by President Ilham Aliyev, following an official invitation extended by the Republic of Azerbaijan.
On the sidelines of the event Badawi met with a delegation from the State Oil Company of Azerbaijan Republic (SOCAR), led by Vice President Elshad Nassirov.
The Mineral Resources and Mining Industries Authority (MRMIA) has signed a Memorandum of Understanding (MoU) with Türkiye’s OZ Mining to explore the potential for gold ore and associated minerals in the Egyptian Eastern Desert.
The MoU came to conclude discussions held in April in Türkiye, as well as a series of meetings between the MRMIA team and officials from OZ Mining, to establish a framework for cooperation and explore the mining opportunities available in Egypt
Egypt is planning to establish a green ammonia production project in Ras Banas, with initial investments estimated at $5 billion. The investments are expected to rise to $10 billion upon reaching full production capacity, as part of Egypt’s strategy to advance sustainable development and expand reliance on renewable energy.
The initial production rates of the Mina West-1 well, part of the West Mina gas field development project in the Mediterranean Sea, came at approximately 45 million cubic feet per day (mmcf/d) of natural gas and around 1,000 barrels per day (bbl/d) of condensates, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
The project is being developed by Rashid Petroleum Company (Rashpetco), a joint venture of Shell, Kuwait Foreign Petroleum Exploration Company (KUFPEC), Malysia's Petronas and the Egyptian General Petroleum Corporation (EGPC).
Egypt expects to fully settle its outstanding dues to foreign oil and gas partners by June 10, 2026, thereby accelerating the initial June 30 deadline, according to Karim Badawi, Minister of Petroleum and Mineral Resources, who added that regular payments pushed foreign partners' arrears down to $440 million in May 2026, dropping sharply from $714 million in April 2026.
Abu Qir Fertilizers and Chemical Industries posted an unaudited net profit after tax of EGP 5.63 billion during the first quarter (Q1) of 2026, marking 102% year-on-year (YoY). These results were disclosed in the company’s unaudited financial statement submitted to the Egyptian Exchange (EGX) following its board of directors meeting held on April 29.
