Egypt's Min.: USD 3.6 Bln Saved From Fuel Import Bill

2025-08-15 10:04:21

(MENAFN- Kuwait News Agency (KUNA)) CAIRO, Aug 15 (KUNA) -- Egypt's Minister of Petroleum and Mineral Resources Karim Badawi said on Friday his country succeeded in saving about USD 3.6 billion from the fuel import bill during the FY 2024-2025.
This was announced during a periodical meeting the minister held with the ministry's senior officials and chairpersons of oil companies to review what has been made and required subsidy aspects in the upcoming period, the ministry said in a statement.
He highlighted measures made by Egypt to offer investment incentives to partners and abidance by paying their dues, it noted.
Badawi pointed to the successful efforts of preparing infrastructure to import liquefied natural gas that is represented in ships with a capacity of 2.250 billion cubic meters per day.
This system is a safety valve in case of any emergency to supply gas, and will benefit all citizens, he stated.
Concerning petrochemicals sector, he referred that it includes a big package of new production projects with high income, adding that the ministry is working on other projects. (end)
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