Petroleum
Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi held meetings with senior officials from leading international energy companies on the sidelines of the ninth Egypt Energy Show (EGYPS 2026), focusing on expanding cooperation and boosting investments. BP announced plans to invest approximately $1.5 billion in Egyptian gas projects during the 2026/2027 fiscal year.
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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.
The Kenya Revenue Authority has given petroleum retailers one month to fully adopt the electronic Tax Invoice Management System for fuel outlets. Non-compliance after December 31, 2025, will trigger enforcement actions starting in January. The system aims to boost transparency and curb revenue losses in the sector.
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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.