Karim Badawi, Minister of Petroleum and Mineral Resources, issued a reshuffling of assignments that included the heads of certain companies in the petroleum and mineral resources sector. The aim is to strengthen petroleum sites with the necessary competencies to achieve future objectives and to facilitate the exchange of expertise, according to the Ministry of Petroleum and Mineral Resources (MoPMR).
The National Gas Company (NATGAS), a subsidiary of Valmore Holding, has extended natural gas services to over two million households across Egypt, which underscores the company’s sustained growth and its capacity to serve a broad segment of citizens.
The Ministry of Petroleum and Mineral Resources is advancing negotiations with France’s TotalEnergies over expanded gas exploration in the deep Herodotus Basin of the western Mediterranean, with both sides aiming to finalize a memorandum of understanding (MoU) in the near term.
This came in a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Pascal Brian, Managing Director of TotalEnergies in Egypt and Cyprus, to follow up on ongoing talks about the French company’s expansion in gas exploration activities in Egypt. The discussions, which began earlier this month, focus on TotalEnergies’ interest in operating in the deep Herodotus Basin.
The Cabinet approved a series of amendments to the country’s mining regulations, tightening licensing procedures, setting new rules for state participation in mining ventures, and introducing oversight measures for geological testing laboratories.
The decision, made during the Cabinet’s 90th meeting chaired by Prime Minister Moustafa Madbouly, amends parts of the executive regulations of the Mineral Resources Law, issued under Prime Ministerial Decree No. 108 of 2020.
Outstanding arrears to International Oil Companies (IOCs) currently stand at $770 million, down from $6.1 billion in June 2024, and are scheduled to be fully repaid by June, according to Karim Badawi, Minister of Petroleum and Mineral Resources. Speaking at the Mediterranean and Red Sea Resource Exploration Summit in the New Administrative Capital, he stressed that the Ministry of Petroleum and Mineral Resources (MoPMR) is prioritizing the settlement of IOCs dues to boost investor confidence and accelerate upstream activities.
Maridive & Oil Services reported a 19% year‑on‑year increase in standalone revenues for the fiscal year ended December 31, 2025, reaching USD 78.6 million. Standalone operations delivered a gross profit of USD 33.3 million, up 25% from the previous year. This performance was driven by higher vessel utilization rates, adherence to scheduled maintenance timelines, and increased daily charter rates for certain marine units, according to the company’s disclosure to the stock exchange.
The Company also expanded its portfolio by offering a broad range of integrated solutions through its subsidiaries, while unit operating expenses declined under management’s cost‑rationalization policy. It further noted that geopolitical developments in the Gulf region occurring after the preparation of the financial statements had no impact on existing contracts or triggered cancellations.
Yasser Ramadan, Chairman of the Egyptian Mineral Resources and Mining Industries Authority (MRMIA), convened a series of high-level meetings with Turkish and American officials to bolster Egypt’s mining sector. These discussions, held on the sidelines of the Organization for Economic Co‑operation and Development (OECD) Critical Minerals Forum in Istanbul, focused on creating an attractive investment environment through international partnerships.
During the forum, Ramadan also met with Mike Kopp, Senior Advisor to the US Secretary of Energy. The discussions explored joint opportunities in mining and critical minerals while leveraging American technical expertise. Notably, the US side expressed significant interest in organizing a corporate delegation to Cairo to participate in the Egypt Mining Forum scheduled for September 2026.
Minister of Petroleum and Mineral Resources, Karim Badawi, represented Egypt and delivered a keynote address at the opening of the Organization for Economic Co-operation and Development (OECD) Critical Minerals Forum in Istanbul, Türkiye.
Badawi took part in the high-level ministerial panel discussion held during the opening session, alongside Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources; Mike Kopp, Senior Advisor to the US Secretary of Energy; Rohitesh Dhawan, President and CEO of the International Council on Mining and Metals (ICMM); and the Philippine Undersecretary of Industry.
Egypt and Türkiye are set to strengthen mining sector cooperation. Karim Badawi, Minister of Petroleum and Mineral Resources, met with Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources, to discuss mining opportunities in the mining and energy sectors between the two countries, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
This meeting is building on previous engagements between officials from Egyptian Mineral Resources and Mining Industries Authority (MRMIA) and Türkiye’s OZ Minerals Company, as well as the memorandum of understanding (MoU) signed between the two countries in May 2025.
A high-level workshop organized by the Society of Petroleum Engineers (SPE)has kicked off on April 28, focusing on innovative strategies to maximize Egypt’s petroleum and gas reserves. The workshop is part of the SPE Egypt's Golden Jubilee celebrations and was attended by Jennifer Miskimins, SPE President, and Said Abd El Moniem, SPE Egypt Chairperson.Â
The first day’s activities included a panel discussion that addressed the evolution of Egypt’s energy landscape and the potential of achieving sustainable growth in production and reserves. It also highlighted strengthening of Egypt’s position as a regional energy hub by fostering a stable and attractive investment environment, balancing economic growth with sustainability goals, and the dynamic pillars of the Ministry of Petroleum and Mineral Resources’ strategy that support these objectives.
