Egypt’s government in talks with investment banks to fund fuel projects

The Egyptian government plans to present investment opportunities in the oil, gas and mining sectors to a group of investment banks, including projects aimed at achieving self-sufficiency in diesel and gasoline, according to an official statement, cited by Al Mal on January 25.

Expanding domestic refining capacity is considered a key pillar of Egypt’s energy security agenda, helping to stabilise fuel supplies, reduce foreign currency outflows from imports, and support long-term industrial growth.

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi said that the ministry regularly reviews refining opportunities with Arab and foreign investors, as part of a broader strategy to attract financing for priority energy projects.

The comments came during a meeting chaired by PM Mostafa Madbouly, which focused on efforts to reduce Egypt’s reliance on fuel imports by encouraging new investments in the refining sector and securing the necessary funding.

Badawi said the ministry’s current priorities centre on meeting domestic demand for petroleum products, with a strong emphasis on boosting upstream production and exploration, while maximising the value of Egypt’s hydrocarbon resources through refining and petrochemical projects. He added that the strategy also includes revitalising the mining sector and strengthening regional cooperation to position Egypt as an attractive destination for energy and resource-based investments.

The minister presented the investment returns associated with diesel and gasoline projects, noting that a coordinated approach is underway across government institutions to promote these opportunities. This includes developing a comprehensive reference framework for investors, engaging with international banks, and actively marketing projects in refining, oil and gas, and mineral resources.