The Egyptian Ethylene and Derivatives Company (ETHYDCO) has fully met its production target for 2024, leading to a rise in domestic sales as well as increasing its export destinations to 35 international markets, particularly Europe (the company’s main export market) and Turkey, in addition to Latin America, where export volumes increased by 130%, according to its Chairman, Hesham Riyad.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Shailender Sinha, (MAusIMM), Vice President of Exploration at International Resources Holding (IRH), and Conrad Alderton, Principal Geologist at IRH. This is the last in a series of meetings between Badawi and the company's officials this month.
Thirty-eight projects were launched by the Egyptian General Petroleum Corporation (EGPC) during the fiscal year (FY) 2024/25; of these, 18 are now fully operational, while 20 are in advanced stages of execution, according to an EGPC statement on the status of energy transition projects in its affiliated companies. These projects led to an annual financial saving of approximately EGP 5.2 billion.
The projects added 30 megawatts of solar power capacity and reduced diesel consumption by around 68 million liters annually. Additionally, 4.5 billion cubic feet of flare gases were utilized and converted into value-added petroleum products, contributing to a reduction in carbon dioxide emissions by about 470,000 tons per year.
Egypt Kuwait Holding Company, a leading investment company in the Middle East and North Africa (MENA) region, reported a 32 % increase in its revenues to reach $397 million in the first half of 2025, compared to the corresponding period of 2024, driven by growth across its various sectors. Net profit increased by 1% year-over-year to $101 million in the first half of 2025. The year-over-year comparison was impacted by a one-off foreign currency gain of $49 million recorded in the first half of 2024. Excluding this gain, the company's earnings would have more than doubled year-over-year.
Karim Badawi, Minister of Petroleum and Mineral Resources, accompanied by sector leaders, conducted an field visit to the refineries at Suez Oil Processing Company (SOPC) and Nasr Petroleum Company to follow up on the implementation of new projects that aim to increase the production of high-value petroleum products, and enhance safety and environmental protection systems.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Vineet Mehra, CEO of International Resources Holding Company (IRH) Global Trading to discuss collaboration in financing and mining.
Karim Badawi, Minister of Petroleum and Mineral Resources has appointed Abeer El-Sherbiny Acting Head of the Ministry’s Technical Office, as the Official Spokesperson for the Ministry.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Arthur Regan, CEO of Energos Infrastructure Management LLC, a US-based company involved in deploying Floating Storage and Regasification Units (FSRU) to review ongoing cooperation in the field of developing infrastructure for imported liquefied natural gas (LNG) through FSRUs that are currently operational.
During the meeting, Badawi stressed that Egypt has successfully established a robust LNG import infrastructure with a capacity of up to 2.25 billion cubic feet per day (bcf/d) in record time.
Mahmoud Esmat, Minister of Electricity and Renewable Energy chaired on Thursday the 23rd meeting of the Supreme Council of Energy with ministers to discuss providing the necessary infrastructure and energy for a number of energy-intensive industrial activities, as well as supporting national and investment projects. The Council reviewed requests from ministries, authorities, and companies to secure electricity and natural as for some some projects including 14 new industrial projects and existing facilities to boost capacity for their expanded production lines.
The government's regular monthly payment of accumulated arrears for foreign partners would encourage them to return to produce at the previous high output levels, boosting Egypt's natural gas supply by 2027, said Prime Minister Moustafa Madbouly, during the cabinet's weekly meeting on Wednesday.
The increased production capacity of the Zohr field is another factor Madbouly cited for the expected recovery in production level.
Egypt's production volume had been low, dropping from more than 6.6 billion cubic feet per day (bcf/d) to 4.1 bcf/d over the last two to three years, said the Prime Minister.
