Energean has received $80 million in outstanding dues from the Egyptian General Petroleum Corporation (EGPC), marking the final settlement for 2025, according to a press release by Energean. The company stated that it is preparing a multi-well exploration campaign, starting with drilling activates at the East Bir El-Nus (EBEN) onshore prospect in the Western Desert during the second quarter of (Q2) 2026.
Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZONE), hosted Peter Mollema, the Dutch Ambassador to Egypt, to discuss expanding bilateral investment in renewable energy and green hydrogen production. According to an official statement issued by the SCZONE, the meeting held at the authority’s New Capital headquarters focused on leveraging Egypt’s strategic location and natural resources to support the global energy transition. The Chairman reviewed the progress of high-value projects within the zone, specifically the "Egypt Green Hydrogen" facility. The project is currently on track to export its first shipment of green ammonia to Germany by the end of 2027.
Karim Badawi, Minister of Petroleum and Mineral Resources, has approved the 2026/2027 investment budget for the Egyptian Petrochemicals Company (EPC), emphasizing the company's pivotal role in localizing the production of essential materials for secured documents and national industries. The company reported its operational performance for the first half (H1) of fiscal year (FY) 2025/2026, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The company's Polyvinyl Chloride (PVC) production reached a five-year high of 41,000 tons, while caustic soda achieved the planned target of 60,000 tons. Moreover, EPC has completed a feasibility study for a new production line with an annual capacity of 120,000 tons.
Karim Badawi, Minister of Petroleum and Mineral Resources, has approved the investment budgets of Suez Oil Processing Company (SOPC) and Nasr Petroleum Company (NPC) for the fiscal year (FY) 2026/2027, focusing on upgrading production units, expanding refining capacity, and improving operational efficiency.
Egypt exported in January a new shipment of liquefied Natural Gas (LNG) from Idku liquefication plant to Türkiye aboard the METHANE BECKI ANNE carrier, transporting 150,000 cubic meters (m³) for UK Shell Global, according to the Ministry of petroleum and Mineral Resources.
The General Authority for the Suez Canal Economic Zone (SCZONE) signed a contract with China National Chemical Engineering Company Co., Ltd. (CNCEC) worth $34 million in investments to establish an industrial project for soda ash production in the Sokhna Industrial Zone.
The agreement follows an October meeting between President Abdel Fattah El-Sisi and executives from CNCEC and its subsidiary, TCC Group, which underscored the strategic importance of the project as Egypt’s first integrated soda ash production complex.
Hunter & Co, an Australian private investment and strategic advisory firm, expressed interest in investing and establishing partnerships in Egypt’s mining sector, in light of the legislative reforms and investment incentives launched by the Ministry of Petroleum and Mineral Resources to improve the investment climate and attract mining companies. This came during a meeting of the group representatives. Karim Badawi, Minister of Petroleum and Mineral Resources.
Also, the meeting followed up on outcomes of Badawi’s visit to Perth in November, during which he presented Egypt’s mining reform agenda and investment incentives, highlighting the country as an attractive destination for mining startups and international companies.
Representatives of Hunter & Co. praised the legal and regulatory reforms implemented in Egypt’s mining sector, noting that many of the measures address long-standing challenges, reduce procedural bottlenecks, and accelerate licensing and investment processes, according to a statement by the Ministry of Petroleum and Mineral Resources.
Prime Minister Mostafa Madbouly reaffirmed the government's full support for the petroleum and petrochemical refining sectors, emphasizing that achieving self-sufficiency in products such as gasoline and diesel is a national priority to reduce the import bill. This came during the Prime Minister's high-level meeting at the New Administrative Capital on January 25 with state officials to review mechanisms for encouraging investment and securing the necessary financing for refining projects, according to a statement by the Cabinet.
The meeting was attended by Hassan Abdalla, Governor of the Central Bank of Egypt (CBE); Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation; Hassan El-Khatib, Minister of Investment and Foreign Trade; and Karim Badawi, Minister of Petroleum and Mineral Resources.
The Cabinet approved the allocation of several plots of land in the Red Sea Governorate to the General Authority for Red Sea Ports to support the development of green hydrogen projects and related infrastructure
During the Cabinet’s 76th meeting, chaired by Prime Minister Mostafa Madbouly, an area of 251.73 acres has been allocated to establish a green hydrogen production plant, an area of 50.17 acres has also been allocated to establish the marine pier for the green hydrogen project, in addition to 173.92 acres to be used in implementing the route of the electricity transmission cable line.
Mahmoud Esmat, Minister of Electricity and Renewable Energy, met with a delegation from China’s SANY Group to explore cooperation opportunities in renewable energy and discuss the establishment of the country’s first wind turbine manufacturing plant.
