Ashraf Abdel Gawad, the Chairman of Badr El Din Petroleum Company (Bapetco) revealed that the production rates reached 67,000 barrels of oil equivalent per day (boe/d), amounting to 217 million cubic feet (mmcf)of natural gas and 28,000 barrels of oil and condensates during the fiscal year (FY) 2023/24.
Minister of Petroleum and Mineral Resources Karim Badawi has received the Co-Founder and CEO of Infinity Solar Company Mohamed Mansour and the Executive Board Member and Co-CEO of Hassan Allam Group Amr Allam as they discussed how to boost their cooperation with the petroleum sector.
Ibrahim Massoud, the Chairman of Western Desert Petroleum Company (WEPCO), operating Al Hamra petroleum port and Badr Petroleum Company stated that about 81 million barrels were received through the storage facilities at Al Hamra Port, and about 27 million barrels were shipped through the marine facilities, in addition to supplying the refineries with about 54 million barrels through the onshore.
Minister of Petroleum and Mineral Resources, Karim Badawi, stated that the petrochemical industry is at the forefront of the economic sectors that achieve the optimal economic exploitation of petroleum resources and achieve added value that supports the Egyptian economy.
Rashid Petroleum Company (Rashpetco) and Burullus Gas Company's Chairman Mohamed Samir stated that the companies have achieved average production of 222 million cubic feet per day (mmcf/d) of natural gas in addition to 4,000 barrels of condensates per day during the fiscal year (FY) 2023/24.
Minister of Petroleum and Mineral Resources, Karim Badawi, highlighted the importance of accelerating development operations and placing the discovered sites on the production map with the aim of increasing local production rates to reduce pressure on the import bill.
The French Ambassador to Egypt Éric Chevallier has praised the climate investment developed in Egypt, stressing that the French companies are interested in boosting their investments in the country.
Prime Minister Mostafa Madbouly has held a meeting to follow up on the procedures and steps to increase the production volume of petroleum products, as well as what is related to providing the necessary financial allocations for the oil and gas sector, to provide petroleum products during the coming period.
According to the Cabinet, the Ministry of Petroleum and Mineral Resources (MoPMR) is one of the ministries who has recorded achievements both quantitatively and qualitatively in dealing with and addressing the causes of complaints and responding to them.
Minister of Petroleum and Mineral Resources Karim Badawi has met with Hani Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC) and the Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), and his accompanying delegation.
