Egypt is planning to increase oil and gas production, attract new investment, and reduce petroleum imports as part of its 2026/2027 economic and social development strategy.
Minister of Planning and Economic Development Ahmed Rostom and Minister of Petroleum and Mineral Resources Karim Badawy outlined the priorities for the sector.
They cited energy security as a national priority in the context of continued regional and global geopolitical uncertainty.
The government plans to invest $4.5bn in refinery development to boost domestic production and reduce reliance on imported petroleum.
Karim Badawy stated that the plan also includes receiving natural gas from Cyprus and re-exporting it to global markets, which officials say would enhance Egypt's role as a regional energy hub.
#petroleum #development #karim #badawy
Minister of Planning and Economic Development Ahmed Rostom and Minister of Petroleum and Mineral Resources Karim Badawy outlined the priorities for the sector.
They cited energy security as a national priority in the context of continued regional and global geopolitical uncertainty.
The government plans to invest $4.5bn in refinery development to boost domestic production and reduce reliance on imported petroleum.
Karim Badawy stated that the plan also includes receiving natural gas from Cyprus and re-exporting it to global markets, which officials say would enhance Egypt's role as a regional energy hub.
#petroleum #development #karim #badawy
2 months ago
