Karim Badawi, Minister of Petroleum and Mineral Resources has issued new leadership appointments at the ministry and for several petroleum sector companies. This comes as part of the ministry's efforts to optimize the use of diverse expertise and introduce new leaders to vacant positions following retirements.
Karim Badawi, Minister of Petroleum and Mineral Resources, has announced a new round of appointments for several operations managers across the petroleum sector. This broad reshuffle is designed to capitalize on outstanding expertise while introducing fresh leadership, ensuring the continued enhancement of performance and the achievement of sector goals.
The Minister of Petroleum and Mineral Resources, Karim Badawi, has appointed Sayed Ahmed Abdel Fattah Selim as Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), effective February 1, 2026. The minister appointed Mahmoud Abdel Hamid , as an advisor to EGAS as he reached the legal retirement age, in recognition of his extensive practical and technical experience in the field of production.
Scatec, a Norwegian renewable energy solutions provider, reported a 25% increase in proportionate revenues for the fourth quarter (Q4) of 2025. This growth brought quarterly revenues to NOK 3,362 million, according to a press release by Scatec. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at NOK 1,065 million for the quarter.
Scatec said on December 31 that cash flow from operations rose to NOK 1,291 million in the quarter, supported by payments from operating power plants and construction-related cash inflows.
Sidi Kerir Petrochemicals Company (SIDPEC) announced a 1.84% year-on-year (YoY) increase in total sales for the fiscal year ending December 31, 2025, to reach EGP 14.413 billion, according to the company's release to the Egyptian Stock Exchange.
SIDPEC's gross profit saw a decline of 43.32%, falling to EGP 1.922 billion. Consequently, the gross profit ratio, ratio between gross profits to revenues, contracted from 23.96% in 2024 to 13.34% in 2025.
Net profit after tax landed at EGP 1.133 billion, a 55.38% decrease compared to the previous year. The basic earnings per share followed this trend, dropping to EGP 1.11 from EGP 2.86 in 2024.
The Abydos II solar project has reached a major international milestone after being named "Africa Deal of the Year" at the Project Finance International (PFI) Awards 2025. The recognition highlights the project as a premier model for large-scale renewable energy integration and green financing across the continent.
Alexandria Mineral Oils Company (AMOC) reported a 14% increase in its consolidated sales revenue in the first half of the 2025/26 fiscal year compared to the same period in 2024 to reach EGP 20.74 billion.
The revenue growth was driven by efforts to maximize production capacity, with the company successfully maintaining high operational efficiency to offset the impact of falling global oil prices.
Consolidated net profit after tax reached EGP 656.4 million for the period ending December 31, 2025. This result marks a 2% year-on-year (YoY) increase over the previous year.
Karim Badawi, Minister of Petroleum and Mineral Resources, outlined Egypt’s strategy to maximize the use of its assets, infrastructure, and geographical location to meet the demands of the domestic, regional and global liquefied natural gas (LNG) markets. This came during a panel discussion titled "The energy equation implementation: government pathways to a balanced energy held on the sidelines of Baker Hughes Annual Meeting 2026 in Italy.
The panel discussed the global challenges facing governments in realizing energy policy objectives such as securing supplies, reducing costs, environmental sustainability, and economic growth.
Badawi emphasized the importance of developing refining, petrochemical, and value-added industries, noting that Egypt is working to achieve balance in the energy sector—ensuring supply security, attracting long-term investments, and supporting industrialization, while remaining open to future energy solutions.”
Minister of Petroleum and Mineral Resources Karim Badawi met with ThyssenKrupp Uhde CEO Nadja Håkansson to discuss accelerating cooperation in decarbonization and sustainable energy infrastructure, according to a ministry statement. The meeting, held on the sidelines of the Baker Hughes Annual Meeting in Italy, focused on leveraging ThyssenKrupp’s global expertise in industrial plant construction—specifically within the ammonia, methanol, and petrochemical sectors—to modernize Egypt’s energy landscape.
On the sidelines of Baker Hughes Annual Meeting 2026 held in Florence, the Minister of Petroleum and Mineral Resources Karim Badawi, met with Alessandro Puliti, CEO of Saipem, , a leading Italian company specialized in offshore energy engineering and drilling activities, to discuss opportunities to expand the company's activities in Egypt.
The Minister praised the strategic partnership with Saipem, commending its long-standing track record in Egypt, particularly in the development of Zohr and Burullus fields.
