Egypt and Norway have agreed to work on a five-year strategic cooperation plan covering green energy, carbon reduction, and natural gas exploration. This came during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources and Erik Husem, the Norwegian Ambassador, to bolster strategic partnership in the energy sector
Minister of Petroleum and Mineral Resources, Karim Badawi, met a delegation from McKinsey & Company to explore potential avenues of collaboration between Egypt’s oil and gas sector and the global consulting firm. The meeting reflects McKinsey’s interest in partnering with Egypt’s energy sector, which is witnessing rapid positive developments and boasts strong competitive advantages, particularly its advanced infrastructure, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Prime Minister Mostafa Madbouly held a meeting to review a proposal for launching an initiative that would enable factories to generate solar energy on their rooftops and use it in production, as a means to expand reliance on renewables, optimize the use of national resources, and reduce the import bill, according to a Cabinet statement.
Minister of Petroleum and Mineral Resources, Karim Badawi, recently held two high-level meetings with the leadership of the UK-based Shell and Malaysia's PETRONAS to discuss stepping up exploration and development in the West Delta Deep Marine (WDDM) concession, Egypt’s largest offshore natural gas asset in the Mediterranean.
Karim Badawi, Minister of Petroleum and Mineral Resources, has proposed hosting a high-level ministerial meeting for members of the African Petroleum Producers Organization (APPO) in Alamein this June. The meeting, to be held in conjunction with the African Union’s Mid-Year Coordination Summit, aims to establish a unified platform for coordinating infrastructure financing and energy security across the continent.
AngloGold Ashanti’s Sukari mine in Egypt delivered gross profit of $292 million in the first quarter (Q1) of 2026, marking an 80.25 % increase from its level in Q1 2025. Moreover, the total cash cost per ounce produced from the mine during the period came at $826/oz, the lowest among all of Anglo Gold's mines in Africa and Australia.
TAQA Arabia, Egypt’s leading energy and utility provider, posted a 65% year‑on‑year (YoY) increase in consolidated net profit to EGP 225 million in the first quarter (Q1) of 2026. Revenues surged 33% over the same period, reaching EGP 7.13 billion.
Revenues rose on the back of a 10% increase in electricity distribution volumes, a 15.5% rise in treated water, and a 155.7% surge in compressed natural gas, as per the release..
The Egyptian government is accelerating a strategic shift toward localizing phosphate-based industries, pivoting away from exporting raw materials in favor of manufacturing high-value fertilizers and chemical products, concluded a meeting chaired by Prime Minister Mostafa Madbouly.
To anchor this transition, Minister of Petroleum and Mineral Resources Karim Badawi said the ministry is now integrating cutting-edge scientific research with modern earth sciences to optimize the utilization of Egypt's vast mineral wealth.
Prime Minister Mostafa Madbouly has directed a unified ministerial effort to secure the permanent funding required for fuel supplies, aiming to stabilize the national electricity grid and meet the energy needs of both households and industry.
During a high-level meeting with the Ministers of Petroleum, Electricity, and Finance, the government reviewed urgent measures to ensure that petroleum product and natural gas requirements are met without interruption, according to a statement by the Cabinet.
Harbour Energy has started the development of the Fayoum-Messinian field close to the west Nile Delta infrastructure, with first gas expected by end of 2026, according to its first quarter (Q1) of 2026 trading and operational update.
During the quarter, Harbour Energy also completed drilling of the EZZ-1 and EZZ-2 appraisal wells in the Disouq Concession, holding expected gas in-place of 35 billion cubic feet (bcf) and 2 million stock tank barrels (mmstb) of associated condensate.
