Egypt has fully settled all outstanding arrears owed to oil and gas investment partners, cutting them to zero after dues had reached approximately $6.1 billion in June 2024, according to Minister of Petroleum and Mineral Resources Karim Badawi.

Egypt's Minister of Petroleum and Mineral Resources Karim Badawi met with Chris Wright, US Secretary of Energy, to discuss opportunities for investment, technology transfer, and expanded cooperation in the energy and mining sectors.

Egypt presented its vision to strengthen its role as a regional energy hub connecting producers and consumers at the US-Gulf Energy Infrastructure Summit in Washington, D.C., according to a statement by the Ministry of Petroleum and Mineral Resources.

Egypt was the largest natural gas consumer in Africa in 2024, accounting for 33.6% of the continent's total natural gas consumption, followed by Algeria, South Africa, and Morocco, according to a new study released by the Information and Decision Support Center (IDSC).

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi met with Syrian Minister of Energy Mohammed Al-Bashir during his visit to the US to discuss opportunities for cooperation to support the recovery of Syria's energy sector.

Egypt's Cabinet approved four draft petroleum concession agreements with a combined minimum investment of approximately $52.97 million and commitments to drill at least six wells, covering exploration and production activities in the Mediterranean Sea, Nile Delta, North Sinai, and the Eastern Desert.

Minister of Petroleum and Mineral Resources Karim Badawi discussed steps to activate a long-term strategic partnership between Egypt and Azerbaijan in the oil and gas sector during a meeting with officials from the State Oil Company of the Republic of Azerbaijan (SOCAR) on the sidelines of Baku Energy Week in the Azerbaijani capital from June 1st to 3rd.

Egypt plans to clear all outstanding dues owed to international oil companies (IOCs) by June 10th, 2026, earlier than a previously targeted June 30th deadline, Minister of Petroleum and Mineral Resources Karim Badawi said in a meeting with Prime Minister Mostafa Madbouly.

British oil and gas company bp intends to sell part of its natural gas assets in Egypt as part of a restructuring plan aimed at reducing debt and focusing on higher-return projects, Reuters reported, citing four people ‌close to the matter.

Minister of Investment and Foreign Trade Mohamed Farid Saleh and Minister of Industry Khaled Hashem held an expanded meeting with executives from the French multinational company Air Liquide to explore opportunities to scale up the company’s investments in the Egyptian market, particularly in the industrial gases sector.

Minister of Petroleum and Mineral Resources Karim Badawi met with Greg McDaniel, Senior Vice President for International Assets at APA Corporation and the company’s General Manager in Egypt, to discuss strengthening cooperation and review operational progress across its production sites.

Egypt’s Cabinet has approved two draft concession agreements for the exploration, development, and exploitation of oil and gas across several key areas, with minimum investments of around $85 million.

President Abdel Fattah El-Sisi has approved two new laws licensing the Minister of Petroleum and Mineral Resources Karim Badawi to contract for oil exploration, development, and production projects in North Sinai offshore and the Gulf of Suez, as published by the Official Gazette.

Minister of Petroleum and Mineral Resources, Karim Badawi, said Egypt has reduced outstanding payments owed to international oil companies (IOCs) from $6.1 billion at the end of June 2024 to about $1.3 billion, with a target to clear the balance entirely by next June.

Egypt Oil & Gas (EOG) celebrated the 20th anniversary of its establishment, during which it contributed to developing Egypt’s energy sector and reinforcing its presence on the global energy stage.

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi met with Ethiopis Tafara, Vice President of the International Finance Corporation (IFC) for Africa, to discuss investment and financing opportunities across petroleum refining, petrochemicals, value-added industries, and the mining sector

Minister of Petroleum and Mineral Resources Karim Badawi held talks with senior executives from Italy-based energy company Eni to review plans to increase crude oil production and advance the connection of Cypriot gas fields to Egypt’s infrastructure.

Minister of Petroleum and Mineral Resources Karim Badawi discussed expanding cooperation between Egypt and Italy in the oil and gas sector during a meeting with Italian Ambassador to Cairo Agostino Balizzi.

Egypt has recorded new oil and gas discoveries in the Western Desert, with an estimated output of more than 5,200 barrels per day of crude oil and condensates and around 34 million cubic feet of gas per day, the Ministry of Petroleum and Mineral Resources stated.

Minister of Petroleum and Mineral Resources Karim Badawi met with Nasser Saif Al Yafei, CEO of Arcius Energy, to discuss the company’s plans to expand natural gas exploration and production activities in Egypt.