Minister of Petroleum and Mineral Resources, Karim Badawi, participated in a session on ‘Enhancing Regional Cooperation to Attract Investments to Egypt and the Region’. The session was part of the U.S.-Egypt Policy Leaders Forum 2025, organized by the American Chamber of Commerce.
Minister of Petroleum and Mineral Resources, Karim Badawi, accompanied by leaders from the Ministry and the Egyptian Natural Gas Holding Company (EGAS), witnessed the arrival of a new Floating Storage and Regasification Unit (FSRU) for receiving imported liquefied natural gas (LNG) and converting it back to its gaseous state, in preparation for pumping it into the national natural gas grid.
Prime Minister Mostafa Madbouly met with John Ardill, Vice President of Global Exploration at ExxonMobil, at the government headquarters in the New Administrative Capital. The meeting reviewed the status of several concession areas belonging to the company in Egypt.
Leading Canadian clean-tech company , Borna Membrane Solutions (SCD) plans to invest $40 million to establish a facility to produce flare gas recovery systems, carbon separation technologies, and reinjection solutions for the Egyptian natural gas network.
New Valley Company for Mineral Resources and Oil Clay (Wadico) Chairman Amgad Ghoneim said that his company expanded its drilling activities for phosphate ore, adding new reserves estimated at approximately 6.6 million tons. He stated that this is an unprecedented increase of 160% compared to the additions made in 2023, and a 53% rise over the total reserves confirmed since the company's inception nearly 20 years ago.
Minister of Petroleum and Mineral Resources Karim Badawi, alongside Mohamed El-Zamlout, Governor of the New Valley, inaugurated the main gas station of TAQA Gas in El-Kharga city. The station will supply the city with gas through a permanent pressure reduction station. Medium- and low-pressure pipelines, spanning 270,000 meters, have been laid to supply houses with natural gas.
Minister of Petroleum and Mineral Resources, Karim Badawi, accompanied by Mohamed El-Zamlout, Governor of New Valley, and several members of the Parliament, led an inspection tour of Misr Phosphate Company’s phosphate production projects in the Abu Tartour plateau, New Valley Governorate. They also followed up on the progress of work in the phosphoric acid production project.
President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Karim Badawi to discuss efforts to meet the country’s petroleum needs and review the latest oil and gas discoveries made between July 2024 and May 2025. Sisi directed the two officials to accelerate the development of newly discovered wells, intensify exploration activities, provide investment incentives, and remove obstacles hindering foreign investors in Egypt's oil, gas, and mining sectors.
The International Drilling Material Manufacturing Company (IDM) recorded revenues of EGP 1.9 billion and a net profit (EBITDA) of EGP 270 million, during 2024, according to its Chairman, Karim Hammam.
President Abdel Fattah El Sisi met with Wael Sawan, Shell’s CEO, in the presence of Mostafa Madbouly, Egypt’s Prime Minister; Karim Badawi, Minister of Petroleum and Mineral Resources; and Dalia El Gabry, VP and Country Chair at Shell Egypt.
