"There is no intention to move the prices of natural gas for the local industry at the present time, in light of the current international changes," Minister of Petroleum and Mineral Resources, Tarek El Molla, said.
Adopting natural gas as a clean alternative in the country's energy transition, its use rate in Egypt reached 65%, compared to 35% for other hydrocarbon sources, Minister of Petroleum and Mineral Resources Tarek El Molla declared.
The Ministry of Petroleum and Mineral Resources has delivered contracts of 50 new houses to families affected by the floods in Khor Awada village at Aswan .
The Egyptian Ministry of Environment has signed two memoranda of understanding (MoUs) to support energy transition and emissions reduction in Egypt, both of which were signed in the presence of Prime Minister Mostafa Madbouly.
The state’s draft general budget for fiscal year (FY) 2022/23 allocated an estimated EGP 28.094 billion for petroleum subsidies, 52.6% more than petroleum subsidies in the 2021/22 budget which amounted to EGP 18.411 billion. This difference of EGP 9.683 billion was a result of soaring Brent prices and fluctuations in the value of the dollar against the Egyptian pound.
During a recent press conference announce the government's vision to deal with the current global economic crisis, Prime Minister Mostafa Madbouly stated that Egypt is on track to becoming a major center for the production of future energy represented by green hydrogen and green ammonia.
Minister of Petroleum and Mineral Resources Tarek El Molla inaugurated the trial operations of the comprehensive development projects in the Egyptian Petroleum Company's (EPC) factories in Alexandria.
Prime Minister Mostafa Madbouly stated that Egypt exports part of the natural gas it produces and receives gas from neighboring countries in order to create an added value for it.
During an inspection tour, the Minister of Petroleum and Mineral Resources Tarek El Molla announced the launch of the operation for the second phase of MIDOR refinery expansion project including four new stocks with capacity of 400,000 barrels of crude and 290,000 barrels of petroleum products.
The Minister of Petroleum and Mineral Resources Tarek El Molla has inspected the medium-density fiberboard (MDF) production project from Rice straw to check the progress of its construction and Installation processes.
