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
Representatives of international companies investing in Egypt's mining sector met a delegation from the Ministry of Petroleum and Mineral Resources to discuss the developments and potential of the sector during a session titled “Spotlight on Egypt” at the Prospectors and Developers Association of Canada Convention (PDAC), held in Toronto from March 1–4.
The session, organised in coordination with MineAfrica and the Canada-Africa Chamber of Business, highlighted Egypt’s promising geological potential, particularly in the Arabian-Nubian Shield, which is known for its rich mineral resources. Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority (MRMIA), outlined Egypt’s key mining investment advantages, including diverse mineral resources, modernised legislation, a strategic location, and ongoing digital transformation efforts aimed at simplifying procedures and improving the business environment.
The Egyptian Ethylene and Derivatives Company (ETHYDCO) has met 102% its production target this year, reaching 302,000 tons of ethylene and 305,000 tons of polyethylene, said Chairman Hesham Riyad while reviewing the company’s performance this year in its general assembly meeting.
Riyad added that total sales in the local market and exports exceeded EGP 5.7 billion, recording 5.4% growth in export sales. This was driven by the company’s expansion in Latin American markets, particularly Brazil, in addition to markets in Africa, Europe, and Turkey. Ethydco’s products also meet the needs of over 40 industrial complexes within Egypt.
The Egyptian oil and gas sector has successfully added new wells to the gas production map in both the Mediterranean Sea and the Western Desert.
In the Mediterranean, the second well in the West El-Burullus (WEB) offshore field was placed on the production map, increasing the field’s output from about 25 to 37 million cubic feet per day (mmcf/d). The project is being developed and produced through a local joint‑venture vehicle (PetroWeb) with Cheiron as the operator/lead developer.
