He called for the full maintenance of the national power grid and adequate fuel provisioning for the electricity sector to maintain grid readiness and reliability.
By: Business Today Staff
Thu, May. 22, 2025
In preparation for the summer season, President Abdel Fattah El-Sisi underlined the importance of proactive steps to ensure stable electricity supply nationwide.
He called for the full maintenance of the national power grid and adequate fuel provisioning for the electricity sector to maintain grid readiness and reliability.
The remarks came during a meeting on Thursday with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, to review efforts to meet citizens’ needs for petroleum products and to assess recent oil and gas exploration and reserve updates.
El-Sisi stressed the need to hold those responsible for the recent gasoline shortage accountable and called for immediate measures to prevent similar incidents in the future.
The Petroleum Minister reported several new oil and gas discoveries made between July 2024 and May 2025.
The meeting also addressed updates on oil and gas contracts, strategies to boost domestic production, ongoing seismic surveys across various regions of Egypt, and future exploration activities. Developments in the operations of international oil and gas companies in Egypt were also reviewed.
Discussions included steps to expand regional cooperation in the oil and gas sectors and the status of outstanding dues to international companies. President El-Sisi instructed the government to intensify efforts to ensure timely settlement of those financial obligations.
The meeting also revisited the recent gasoline issue. The Petroleum Minister confirmed that the matter was addressed promptly, and legal and administrative actions are underway against those responsible.
The session further covered developments in the mining and mineral resources sector, including proposed amendments to the Mineral Resources Authority Law. The aim is to optimize resource utilization, streamline licensing procedures, and attract global mining companies—ultimately enhancing state revenues and supporting the localization of mining industries in Egypt.
President El-Sisi reaffirmed the state’s commitment to boosting domestic oil and gas production to meet developmental and consumption needs while reducing reliance on imports.
He also directed the inclusion of newly discovered wells into the national production map, intensification of exploration and drilling operations, and the introduction of incentives to accelerate field development and resource extraction. Additionally, he emphasized the need to continue attracting investment and removing obstacles facing investors in Egypt’s oil, gas, and mining sectors.