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Petroleum Minister Highlights Petrochemical Growth
Egypt's Minister of Petroleum, Kareem Bedoui, praised the growth of the national petrochemical sector and successes in opening new export markets. The subsidiaries achieved production of approximately 4.6 million tons during the fiscal year 2025/2026, with export values reaching $1.8 billion to 50 countries, including new markets in Spain, Brazil, and Cyprus. He also emphasized the importance of a five-year plan to strengthen the petrochemical industry in line with increased oil and gas production, supporting Egypt's role as a regional hub for gas trading through the Cyprus field connection project. The plan focuses on implementing eight strategic projects between 2026 and 2030, with investments totaling up to $10 billion and expected revenues of $7 billion annually. The goal is to localize 20 new products, increase added value, and reduce dependence on imports.
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