As part of efforts to appoint new leadership to vacant positions following the retirement of their previous holders, Karim Badawi, Minister of Petroleum and Mineral Resources, has assigned Walid Ahmed Abdel Salam Hegazy as Chairman and Managing Director of the Petroleum Marine Services company (PMS).
President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Karim Badawi to review efforts to boost oil and gas production through the adoption of hydraulic fracturing and horizontal drilling technologies, according to presidential spokesperson Mohamed El‑Shennawy.
The Egyptian Natural Gas Holding Company’s (EGAS) Executive Managing Director, Sayed Selim, visited the headquarters of Egypt Gas and the Natural Gas Vehicles Company (Cargas) to monitor work progress and performance levels. Selim ensured strict compliance with health, safety, and environment (HSE) standards across all projects.
Minister of Petroleum and Mineral Resources, Karim Badawi, reviewed the progress of the Egypt-Cyprus gas transport project, which aims to tie Cypriot Cronos gas field to Egypt’s gas liquefaction plants.
This came during a meeting between Minister Badawi and Pascal Breant, Managing Director of TotalEnergies for Egypt and Cyprus.
Egyptian-UAE firm GoGas Holding has signed a Joint Development Agreement with Madkour Holding Group to establish a combined-cycle power plant in Nouakchott, Mauritania. The facility will be fueled by gas from the offshore Banda Tevet field, which is currently being developed by GoGas. The first phase of the plant is expected to begin generating electricity by the end of 2028, with an initial capacity of 200 megawatt (MW), reaching up to 365 MW.
Prime Minister Mostafa Madbouly said the recent fuel price increases were a preemptive step to safeguard economic activity and ensure the continued availability of energy supplies, as global oil prices have risen sharply.
Speaking during a Cabinet meeting, Madbouly explained that the decision came after a significant jump in global crude prices, noting that the government still bears a substantial portion of the increased costs of petroleum products.
In light of the rapidly evolving military developments in the region and the subsequent sharp spikes in energy prices and global market fluctuations, the Egyptian government is closely and continuously monitoring the situation through full coordination between the Central Bank, various ministries, and relevant authorities, noted a statement by the cabinet.
The government is securing national energy requirements through daily monitoring of supply schedules and ongoing contracts of petroleum products, in addition to leveraging previously concluded contractual arrangements and price hedging mechanisms that cover a significant portion of imports, to mitigate the impact of global price increases.
The Ministry of Petroleum and Mineral Resources (MoPMR) raised prices of all types of Octane gasoline, Compressed Natural Gas (CNG) for cars, and butane, effective March 10. The decision came "due to the exceptional circumstances in the international energy markets", according to a MoPMR statement.
According to the decision, fuel prices at the pump will be as follows:
95 Octane Gasoline: EGP 24.00 per liter compared to EGP 21
92 Octane Gasoline: EGP 12.25 per liter compared to EGP 19.25
Compressed Natural Gas for Cars: EGP13 compared to EGP 10
Drilling results from the exploratory well Sirius‑1X, which is located in the North‑East Alameya block in the Mediterranean Sea and operated by Shell, show encouraging preliminary indications after reaching the target depth of 2,115 m. This improves the prospects for developing new gas resources in the Sirius exploration interval.
Following these results, an early development decision could be reached in 2027. The Sirius-1X discovery is currently planned to begin production by 2029. This will serve as a subsequent phase to the development of the Mina West field.
The Egyptian Linear Alkyl Benzene Company (ELAB) has posted a record production of 141,000 tons of linear alkyl benzene (LAB) in 2025, its highest level since the plant began operations in 2008, while maintaining top standards of safety, occupational health, and environmental protection, Chairman Ayman Elgarem said during the company’s general assembly.
LAB is the company’s main product and serves as the primary raw material for the manufacture of industrial detergents, according to Elgarem, who added that the company is working to increase its production.
The meeting reviewed the company’s fiscal year (FY) 2025 results and was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and senior executives from the petroleum and petrochemical sector
