Petroleum

Egypt's Minister of Petroleum and Mineral Resources Karim Badawi announced that 2026 will see the largest number of offshore wells drilled in recent years, emphasizing the need for early preparation by Petroleum Marine Services (PMS) to capitalize on these opportunities. He described PMS as one of the petroleum sector's key national entities specializing in offshore construction and marine services.

February 17, 2026 An Ruwaito ta hanyar AI

Egypt's Minister of Petroleum and Mineral Resources Karim Badawi announced that the country is implementing six petroleum refinery development projects with investments exceeding $4 billion. The projects aim to increase domestic production, boost added value, and reduce the fuel import bill. The statement came after a meeting with officials from the International Finance Corporation.

Foreign Minister Badr Abdelatty and Minister of Petroleum and Mineral Resources Karim Badawi held a high-level meeting to discuss enhanced cooperation between their ministries. The talks focused on attracting greater foreign investment into Egypt’s petroleum sector and opening new avenues for Egyptian companies to compete globally through the Egypt Exploration and Production (E&P) Gateway. Both ministers reaffirmed their commitment to strengthening Egypt’s role as a regional hub for energy trade and transit.