Sworn in early July in a landmark Cabinet reshuffle, Minister of Petroleum and Mineral Resources Karim Badawi, a longtime veteran of SLB (formerly known as Schlumberger), has inherited a burgeoning petroleum industry that has followed an ambitious Modernization program since 2016 but faces a myriad of different challenges that need to be tackled for the Egyptian energy sector to truly realize its vision and place within the global market.
Egypt's downstream industry, encompassing refining, and petrochemical plants, plays a critical role in the nation's economic development. This sector has the potential for increased refining capacity and product diversification. By understanding the current landscape and future aspirations, we can gain valuable insights into the role this vital industry will play in shaping Egypt's economic future.
In its pursuit of decarbonization, the downstream sector of the oil and gas industry, which includes the refining, processing, distribution, and selling oil and gas products, faces several obstacles. Downstream activities are essential to the sector's overall carbon footprint since they are the last stop in the supply chain for oil and gas. While companies are starting to feel the figurative and literal heat from environmentalists and policymakers, meeting SDGs is becoming more and more crucial in the oil and gas sector.
Nuclear energy is called atomic energy because it has a direct relationship with the atomic nuclei of the elements and reshapes the bonds between atoms through the processes of nuclear fission and nuclear fusion, through which atomic bonds are broken or formed.
The Prime Minster Mostafa Madbouly has met with the Minister of Petroleum and Mineral Resources Karim Badawi stressing the necessity of fast increasing the petroleum’s sector production in cooperation with the foreign partners and focusing on paying those partners’ duties.
Minister of Petroleum and Mineral Resources Karim Badawi has met with the Chairman of the Egyptian Natural Gas Holding Company (EGAS) Yassin Mohamed, and his representatives.
Minister of Petroleum and Mineral Resources Karim Badawi has inspected the facilities of the Arab Petroleum Pipelines Company (SUMED) in the port of Ain Sokhna, the main control unit in the port, the marine piers, the imported natural gas facilities points, the gasification ship, and the diesel reception.
Shell expects to face up to $2 billion of impairments in its second-quarter earnings of 2024 related to a delayed biofuels plant under construction in the Netherlands and its chemicals facility in Singapore, Bloomberg reported.
Ministry Spokesperson Hamdi Abdel Aziz, announced that the country has agreed on 21 shipments of liquefied natural gas (LNG) that will arrive in Egypt during the summer, in addition to other quantities and shipments of diesel.
Sidi Kerir Petrochemicals Company (SIDPEC) is contracting with a consortium that consists of several parties to import liquefied ethane gas (US shale gas).
