Minister of Petroleum and Mineral Resources Karim Badawi met with Minister of State for Military Production Mohamed Salah El-Din to review ongoing and future cooperation between the two ministries. Badawi stated that his ministry is eager to expand its collaboration with the Ministry of Military Production
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Roberto Ebert, Ambassador of Chile to Cairo, along with a delegation from the Chilean ENAP Sipetrol, which has current investments in Egypt, to discuss cooperation plans in oil production in collaboration with the Egyptian General Petroleum Company (EGPC).
The meeting addressed ways to accelerate ENAP’s operations in the West Amer Area in the Eastern Desert in cooperation with EGPC, in order to increase production rates and review its future plans to drill new wells and expand exploration activities.
Minister of Petroleum and Mineral Resources Karim Badawi said that the ministry is working to fully utilize petrochemical production capacities and explore expansion opportunities to increase added value, cut import costs, boost exports, and support the economy. His remarks came during inspection tours of petrochemical production complexes in Alexandria Governorate.
The Egyptian Tax Authority (ETA) stated that there is no truth to reports of disputes between the government and oil companies over the new value-added tax (VAT) law, confirming that the law is clear and a full agreement has been reached on all issues and that the executive regulations will be issued soon, according to a statement by the Ministry of Finance.
ETA explained that the Egyptian General Petroleum Corporation (EGPC) is the sole purchaser of crude oil in Egypt. It bears the value-added tax at a rate of 10% as the recipient and beneficiary of the commodity, whether the oil is locally produced or imported, and it is responsible for remitting the tax to the ETA.
Waleid Gamal Eldien, Chairman of the Suez Canal Economic Zone (SCZONE) signed a Memorandum of Understanding (MoU) for cooperation on green hydrogen with TANAKA Shin-ichi, Director General of the Bureau of Industrial and Labor Affairs of the Tokyo Metropolitan Government, on August 20.
The signing ceremony took place in the presence of Tokyo Governor Yuriko Koike and Prime Minister Mostafa Madbouly, on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD 9), held in the Japanese city of Yokohama.
Middle East Oil Refinery (MIDOR) refinery has raised its operating capacity to 160,000 barrels per day (bbl/d), driven by its new refinery expansions efforts to boost local production and reduce reliance on imports.
Alexandria National Refining & Petrochemicals (ANRPC) maintained high productivity during the fiscal year 2024/2025 producing 1.6 million tons of high-octane gasoline, in addition to other high-value products, ANRPC Chairman Sayed Al Rawy told attendees of the company's general assembly, headed by Minister of Petroleum and Mineral Resources, Karim Badawi.
Alexandia Mineral Oils Company (AMOC) posted a 17 per cent increase in its standalone net profits during 2024/2025 to reach EGP 1.49 billion. This came on the back of Sales of EGP36.9 billion, marking a 10.8 % gain over its value in 2023/2024.
Total investments stood at EGP 5.1 billion, with total equity around EGP 4.9 billion.
Minister of Investment and Foreign Trade, Hassan El-Khatib, named Khaled Abubakr, chairman of TAQA Arabia, Egypt's leading energy and utility provider, as the Chairman of the Egyptian contingent of the Egypt-Denmark Business Council.
The decision is the most recent development in the strategic partnership agreed upon by Egyptian President Abdel Fattah El-Sisi and Danish Prime Minister H.E. Mette Frederiksen in December 2024 to strengthen trade and investment relations between the two countries.
Suez Canal Economic Zone (SCZONE) has signed two cooperation agreements in green energy with Japanese partners during the 12th session of the Egypt–Japan Business Council and the Egypt–Japan Investment Forum, held in Tokyo.
The first agreement was signed with Japan’s ITOCHU Corporation and Orascom Construction to jointly design, develop, and operate integrated facilities for supplying ships with ammonia as a marine fuel (bunker fuel) at the SCZONE ports of Sokhna and East Port Said.
This agreement will contribute to reducing emissions and supporting the Zone’s transition toward sustainable energy in maritime transport, according to SCZONE press release.
