Egyptian Minister of Planning and Economic Development, Dr. Ahmed Rustom, and Minister of Petroleum and Mineral Wealth, Engineer Karim Badawi, held a meeting to review the performance indicators of the petroleum sector. The meeting was attended by several leaders from both ministries. The main agenda included discussing the sector's growth, increasing production, and developing services for citizens.
Dr. Rustom emphasized the vital role of the petroleum sector in the national economy, providing the local market with energy and supporting production and service activities. He also highlighted the sector's contribution to attracting investments, enhancing state resources, and increasing the economy's added value. The minister stressed the importance of developing the sector to support the national economy and achieve sustainable development goals.
Dr. Rustom praised the petroleum sector's pivotal role in supporting the national economy and achieving economic growth. He noted a significant improvement in the sector's performance, particularly in petroleum refining, which achieved a 22.4% growth during the third quarter of the 2025/2026 fiscal year. The sector also recorded an 8.7% growth during the same fiscal year.
The Planning Minister commended the national efforts to enhance investments in the petroleum and energy sector. He noted the success in paying off foreign partners' dues, which helped restore confidence in the investment climate and opened up opportunities for increased investments in exploration and field development. This, in turn, supports increased local production and the sector's capacity to meet market needs.
Minister Karim Badawi stated that the petroleum sector is on a path of positive growth, overcoming challenges. He cited indicators from the Ministry of Planning, including increased crude oil production, growth in petroleum refining, and controlled decline in gas production. Badawi attributed these results to the efforts of sector workers and the payment of dues to foreign partners, which resumed investment flow for field development and exploration.
Badawi emphasized that increasing local production of petroleum and gas is a top priority. This will be achieved through developing existing fields, intensifying searches for new discoveries, and meeting citizens' and state sectors' needs while reducing imports. He also highlighted the importance of expanding natural gas connections to homes, replacing butane gas cylinders, and converting cars to run on gas.
The ministers also discussed diversifying energy sources and implementing the state's strategy to increase renewable energy's contribution to electricity generation. This aims to reduce gas consumption and lower import costs. Additionally, projects to connect Cypriot gas fields to Egypt's infrastructure will enhance Egypt's role as a regional energy hub and maximize economic benefits from existing facilities.
Key points
- The Egyptian government is prioritizing the development of the petroleum sector to support economic growth and improve citizen services.
- The sector has shown positive growth, with a 22.4% increase in petroleum refining during the third quarter of the 2025/2026 fiscal year.
- The government aims to increase local production of petroleum and gas, reduce imports, and expand natural gas connections to homes.
