The Egyptian Chemical Industries Company (KIMA) recorded a net profit after tax of approximately EGP 482.705 million during the first quarter (Q1) of the fiscal year (FY) 2025/2026, marking a 1,164.59% leap compared to its level in the same period of the previous year. The profit surge was driven primarily by higher revenues from sales and foreign currency differences.
Egypt’s Ministry of Public Enterprise Sector has announced progress in developing a major green ammonia production facility in Suez, following high-level talks between Minister Mohamed El-Shimy and executives from Envision Energy, a Chinese company specialized in wind turbines manufacturing, and Benchmark Power International, an investment platform focused on integrating renewable energy into green hydrogen.
Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), visited Petrobakr Petroleum Company, a joint venture between EGPC and Vaalco Energy, to follow up on the implementation of work plans and to motivate employees and encourage them to exert efforts to meet the Ministry of Petroleum’s goals to increase Egypt’s oil and natural gas production. The visit highlighted ongoing projects including the operation of two wells powered by solar energy, with preparations underway to add three more in the coming period. It also reviewed the new electrical interconnection project with the Ministry of Electricity as well as efforts to reduce drilling costs and to assess current and anticipated oil reserves.
Misr Fertilizers Production Company (MOPCO) will invest between $200-$250 million in 2026/2027 to increase production capacity and expand in new export markets, the company said in a statement sent to the Egyptian Stock Exchange.
The development plan targets a 10% increase in the company's plants' capacity to reach 2.2 million tons per year (mmt/y), said MOPCO.
Karim Badawi, the Minister of Petroleum and Mineral Resources, held a meeting with Vassilis Kikilias, Greece’s Minister of Maritime Affairs and Insular Policy, to explore ways to strengthen cooperation and partnership between Egypt and Greece in the energy sector and gas transportation infrastructure to Europe, as well as knowledge and expertise exchange.
Karim Badawi, the Minister of Petroleum and Mineral Resources, said during a session at the Egypt-Gulf Cooperation Council (GCC) Trade and Investment Forum that Egypt possesses a robust infrastructure in the oil and gas sector. This infrastructure is fully leveraged to strengthen the country’s position as a regional hub for energy trade and exchange.
Karim Badawi, Minister of Petroleum and Mineral Resources, has issued new chairman appointments for Sidi Kerir Petrochemicals Company (Sidpec) and the Egyptian Linear Alkyl Benzene Company (ELAB).
Karim Badawi, Minister of Petroleum and Mineral Resources, has appointed Alaa El-Din Abdel Fattah as the new Chairman of the Egyptian Petrochemicals Holding Company (ECHEM). He will assume the position on January 1, 2026, succeeding Ibrahim Mekki.
As part of the Ministry of Petroleum and Mineral Resources’ (MoPMR) commitment to strengthening occupational safety, health, and environmental performance across Egypt’s energy sector, Yassin Mohamed, First Undersecretary of the Ministry and Supervisor of Environment, Safety and Health, Energy Efficiency, and Climate, held an inspection visit to Misr Fertilizers Production Company (MOPCO) in Damietta Governorate.
Egypt will launch one of the largest natural gas exploration campaigns in the Mediterranean in 2026, marking a major step in reviving domestic production and attracting new investments, Karim Badawi, Minister of Petroleum and Mineral Resources said during the first episode of the ministry’s Petrocast.
The year 2026 will see one of the largest exploratory campaigns in the Mediterranean Sea, including 14 exploratory wells targeting some 12 trillion cubic feet of gas (tcf), according to Badawi.
This is part of a broader effort to reverse declining gas and oil production since 2021, attract major international investments, and strengthen national energy security.
