During the first half of fiscal year (FY) 2024/25, Egypt's petroleum imports value increased by 53.3% to reach $9.7 billion, compared to $6.3 billion in the first half (H1) of FY 2023/24. Imports of natural gas grew by $2.1 billion, and imports of petroleum products by $1.2 billion, while crude oil imports increased by $58.7 million, due to the increase in imported amounts.
The Ministry of Petroleum and Mineral Resources, the Engineering and Science Services (ESS) of the American University in Cairo (AUC), and Methanex Egypt signed a landmark tripartite protocol to develop Egypt’s first professional Process Safety Management (PSM) Diploma—a significant milestone in the journey to strengthen process safety practices across Egypt’s oil, gas, and petrochemical sectors.
Minister of Petroleum and Mineral Resources, Karim Badawi, inaugurated the integrated development project for the village of Al Tonab Village in Aswan Governorate, emphasising the role of the petroleum sector in supporting community development initiatives.
Abu Qir Fertilizers and Chemical Industries Company, a major player in Egypt’s petrochemicals sector, reported a 20% increase in its sales during the first nine months of fiscal year (FY) 2024/25 compared to the corresponding period in 2023/2024 to reach EGP 16.9 billion. The company’s gross profits came at EGP 7.7 billion, compared to EGP 6.9 billion, in the first nine months of FY 2023/24.
Minister of Petroleum and Mineral Resources Karim Badawi met with CEO and President of the Korea National Oil Corporation (KNOC) Kim Dong Sub and his accompanying delegation to explore investment opportunities and potential areas of cooperation in Egypt’s thriving petroleum sector. The talks highlighted KNOC’s interest in boosting investments through subsidiaries Dana Petroleum Ltd. and Petro Nefertiti, particularly in four areas in the Gulf of Suez and Western Desert regions.
Minister of Petroleum and Mineral Resources, Karim Badawi, had a joint meeting with Minister of Environment, Yasmine Fouad, to discuss national developments in practices related to Carbon Capture and Storage (CCS), a process that captures carbon dioxide (CO2) emissions from industrial facilities before it is released into the atmosphere.
Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with representatives of the UK-based Shard Capital to follow up on the progress of the $7 billion Mediterranean Petrochemicals Complex project in New Alamein.
Petroleum Minister Karim Badawi attended the closing ceremony of the Industry Simulation Program (ISP)—an initiative by the Society of Petroleum Engineers (SPE) Egypt branch and hosted by Enppi. Held from February 9 to 24, 2025, the program aimed to equip university students with practical industry skills, focusing on advanced technologies such as AI and machine learning.
The Minister of Petroleum and Mineral Resources, Karim Badawi, said that the Ministry views its workforce as a cornerstone in achieving its strategy and meeting citizens' needs for petroleum products and natural gas while contributing to the national economy.
During a meeting with a General Trade Union for Petroleum Workers (GTUPW) delegation on Labor Day, Badawi highlighted the six pillars of the Ministry's strategy, underscoring their importance for attracting new investments and driving growth within the petroleum sector.
The IPR Energy Group (IPR) has announced another significant hydrocarbon discovery in the Yidma field (Yidma-12), located within the Yidma-Alamein concession in Egypt’s Western Desert.
The well was drilled to a total depth of 8,910 feet (ft), targeting untapped reserves following recent successes in the adjacent Alamein field. The well encountered a substantial oil column of 73 ft hydrocarbons beneath a tight stratigraphic barrier within the Alamein Dolomite formation.
