Petroleum Ministry saves $3.6 bn in fuel import costs in FY 2024-2025

Minister of Petroleum and Mineral Resources Karim Badawi announced that recent government measures, topped by offering investment incentives to partners and ensuring the timely payment of their dues, have successfully halted the decline in natural gas production caused by slowed investments, stabilizing output levels and paving the way for gradual increases.

Badawi noted that these efforts have saved the state an estimated $3.6 billion in fuel import costs for the 2024/2025 fiscal year, thanks to higher domestic production levels, evidence, he said, that the sector is on the right path toward sustainable output growth.

The announcement came during the minister’s regular meeting with senior officials from the petroleum and mineral resources sector and chairpersons of affiliated companies, held at the headquarters of the Egyptian Natural Gas Company (GASCO).

The meeting focused on reviewing recent achievements, outlining future priorities, and identifying areas requiring support to increase production, optimize resource utilization, and address ongoing sector challenges.

In a statement released Friday, 15/8/2025, the Ministry of Petroleum highlighted the positive outcomes of its recent strategy implementation.