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Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Petroleum Minister inaugurates TAQA's new integrated operations center in Cairo
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, officially inaugurated the new integrated operations center for Saudi Arabian energy company TAQA, located in Cairo's Katameya district. The center will serve as a key hub for managing the company's activities in Egypt and the broader region, and is positioned to become a launchpad for TAQA's expansion across Africa. The initiative capitalizes on Egypt's strategic advantages — including its robust infrastructure, competitive logistics, and geographic location — to strengthen regional energy cooperation and attract international investment. TAQA, a leading provider of services to oil production sites and the wider energy sector, leverages innovation, technology, and sustainable practices to advance its mission. The inauguration ceremony was attended by senior energy officials, including Tamer Idris, Vice Chairperson for Production at the Egyptian General Petroleum Corporation (EGPC); Mohamed Radwan, Vice Chairperson of Ganoub El Wadi Holding Company (GANOPE) for Agreements and Exploration and Director of the Egypt Upstream Gateway (EUG); TAQA Chairperson Khaled Noah; Amir Nassim, Vice President of Operations; Hossam Abou Seif, Vice President for Africa and Iraq; and Moataz Serag, Egypt Country Director. Executives from production companies and international energy firms operating in Egypt were also present. During the opening, Minister Badawi reaffirmed the depth of historic ties between Egypt and Saudi Arabia, emphasizing the flourishing energy partnership between the two nations. He commended Saudi Minister of Energy Prince Abdulaziz bin Salman for his pivotal role in strengthening bilateral cooperation, highlighting his remarks at the recent Egypt Energy Show (EGYPES) as a testament to the strength of the relationship. Welcoming TAQA's expanded presence in Egypt, Badawi noted that the new center reflects the company's serious commitment to investing in and operating within the country. 'We are unlocking the full potential of Egypt's energy sector and the region,' he said. 'The ministry's six strategic pillars pave the way for broad cooperation with TAQA — from boosting production through advanced technologies and supporting mining, to renewable energy, emissions reduction, enhanced safety systems, and energy efficiency — all while bolstering regional collaboration with Saudi Arabia.' TAQA Chairperson Khaled Noah described the center as a milestone in the company's development and a model of successful partnership with Egypt. He emphasized TAQA's commitment to investing in the country's energy sector, especially in developing solutions to reduce carbon emissions — where Egypt is at the forefront of the company's initiatives. Noah praised Egypt's forward-looking energy strategy, highlighting TAQA's role in channeling investments, creating jobs, and providing advanced technological services to support the nation's energy goals. Attendees also received a comprehensive briefing on the center's capabilities, which include the use of advanced technologies in energy operations, equipment design and maintenance, and a specialized training facility to support workforce development.
Al-Ahram Weekly
22-05-2025
- Business
- Al-Ahram Weekly
El-Sisi directs measures to ensure stable power supply ahead of summer - Energy
President Abdel-Fattah El-Sisi directed the government on Thursday to accelerate measures to ensure a stable electricity supply ahead of the summer season and stressed the need to hold accountable those responsible for the recent gasoline quality issue. The president's directives came during a meeting with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to discuss preparations for the upcoming summer season. During the meeting, El-Sisi instructed the government to implement all necessary preemptive measures to guarantee a stable electricity supply nationwide, according to the presidential spokesperson. He also emphasized the importance of meeting the needs of the power sector and maintaining the electrical grid. Moreover, the president reviewed efforts to meet citizens' needs for petroleum products and the status of petroleum explorations and reserves. Additionally, El-Sisi stressed the importance of taking strict accountability measures against those responsible for the recent gasoline quality issue to prevent recurrence. For his part, Minister Badawi affirmed that the issue had been immediately contained, with legal and administrative measures underway against those involved. The meeting also explored ways to expand regional cooperation in the oil and gas sectors during the upcoming period. El-Sisi further directed the government to intensify efforts to settle overdue payments to international energy companies and remove obstacles facing investors in Egypt's oil, gas, and mining sectors. They also discussed ways to develop the mining sector and suggested amendments to the Egyptian General Petroleum Corporation Law. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
22-05-2025
- Business
- Al-Ahram Weekly
El-Sisi welcomes Egypt cooperation with Shell, urges more exploration
President Abdel-Fattah El-Sisi welcomed the ongoing cooperation between Shell and Egypt on Thursday, stressing the importance of intensifying its exploration and development activities in concession areas. President El-Sisi made his remarks during a meeting with Shell Global's Chief Executive Officer, Wael Sawan, in the presence of Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi, and Chairwoman and CEO of Shell Egypt Dalia El-Gabry. El-Sisi also praised the role played by the company in partnership with the Egyptian petroleum sector. Meanwhile, Shell's CEO thanked the president for his continued support and reaffirmed the company's commitment to the strategic partnership with Egypt's oil and gas sector. Moreover, the president emphasized Egypt's efforts to improve the investment climate and eliminate any obstacles facing investors. He also affirmed the state's commitment to paying companies' dues, which helps build mutual trust. Additionally, both sides discussed ways to enhance the existing cooperation to unlock the full potential of the country's oil and gas sector for mutual benefit. Shell's CEO also expressed the company's eagerness to continue cooperating with Egypt and exploring further opportunities in the country's promising energy sector. He praised the Egyptian government's role in facilitating and overcoming challenges. Shell's presence in Egypt dates back to 1911, with the company operating two concessions in Gemsa and Hurghada. With over 93,000 employees in more than 70 countries, Shell is the world's second-largest investor-owned oil and gas company. Follow us on: Facebook Instagram Whatsapp Short link:
Middle East
22-05-2025
- Business
- Middle East
OPEN// Sisi underlines need to continue efforts to increase petroleum, gas production
CAIRO, May 22 (MENA) - President Abdel Fattah El Sisi underlined on Thursday the importance of continuing State efforts to enhance local production of petroleum and natural gas in order to secure development and consumption needs and reduce import bill. He directed the government to accelerate the development of newly discovered wells and incorporate them into the national production map while intensifying exploration and drilling activities. Sisi made the directives during a meeting with Prime Minister Mostafa Madbouli and Minister of Petroleum and Mineral Resources Karim Badawi. The president also called for offering incentives to speed up the development of oil and gas fields, encouraging new discoveries, and working to attract further investment by removing obstacles facing investors in Egypt's oil, gas, and mining sectors. Presidential Spokesman Mohamed el Shennawi said the meeting reviewed national efforts to secure petroleum products for the local market and discussed the status of recent oil and gas discoveries made between July 2024 and May 2025. Preparations for the summer season were also discussed with President Sisi underlining the importance of taking proactive measures to ensure stable electricity supply, maintain the readiness of the national grid, and meet demand across all governorates. Discussions also covered contracts brokered in the oil and gas sector, updates on seismic survey activities, exploration plans, and the operations of international companies working in Egypt. The meeting addressed Egypt's plans to expand regional cooperation in oil and gas, and reviewed progress on paying dues to foreign partners. As regards recent problem related to gasoline supply, the petroleum minister said that the matter was promptly handled and all legal and administrative measures were taken against those responsible. President Sisi called for firm action to prevent a recurrence of such incidents. The president was briefed on proposed amendments to the Egyptian Mineral Resources Authority Law aimed at optimizing resource utilization, streamlining licensing procedures and conducting a comprehensive restructuring of the authority to attract international companies operating in the field. The petroleum minister outlined current efforts to create an attractive investment climate for the mining sector, underscoring its growing role in the national economy. (MENA) S R E/
Egypt Today
22-05-2025
- Business
- Egypt Today
President Sisi emphasizes continued efforts to boost domestic oil, gas production
President El-Sisi gives a Speech on the 43th Anniversary of Sinai Liberation- press photo CAIRO – 22 May 2025: President Abdel Fattah El-Sisi met on Thursday with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Karim Badawy, to discuss key energy sector developments. Ambassador Mohamed El-Shenawy, the official spokesperson for the Presidency, stated that the meeting addressed efforts to meet citizens' needs for petroleum products and the status of oil explorations and reserves. In this regard, the Minister of Petroleum highlighted new oil and gas discoveries made between July 2024 and May 2025. The meeting also reviewed preparations for the summer season, with President El-Sisi stressing the need to take all necessary measures in advance to ensure stable electricity supply, meet the electricity sector's needs, and maintain the power grid to guarantee readiness and stable electricity supply nationwide. The spokesperson added that the meeting covered the status of oil and gas contracts, efforts to increase domestic oil and gas production, seismic survey activities in various Egyptian regions, exploration plans, and developments in the activities of international oil and gas companies operating in Egypt. Discussions also focused on steps to expand regional cooperation in the oil and gas sectors in the coming period and the status of payments to international companies. President El-Sisi directed the intensification of efforts to ensure these payments are made. The meeting also addressed the recent gasoline supply issue. The Minister of Petroleum confirmed that the problem was dealt with promptly and that legal and administrative measures are being taken against those responsible. President El-Sisi stressed the need to hold those responsible accountable and take necessary measures to prevent recurrence. The meeting further discussed updates in the mining and mineral resources sector, including amendments to the Egyptian Mineral Resources Authority Law to ensure optimal exploitation of mineral resources and a comprehensive update of its organizational structure. This aims to facilitate licensing procedures to attract international mining companies, maximize state resources, and localize mining industries in Egypt. The Minister of Petroleum reviewed the state's efforts to create an attractive investment environment in the mining and mineral industries. President El-Sisi emphasized the necessity of continuing state efforts to boost domestic oil and gas production to meet development and consumption needs and reduce the import bill. He also directed the accelerated development of newly discovered wells and their integration into the production map, intensified exploration activities to increase domestic oil and gas production, the provision of incentives to expedite and intensify field development and production operations, and continued efforts to attract investments and remove obstacles facing investors in Egypt's oil, gas, and mining sectors.
