President Abdel Fattah El-Sisi has urged fresh incentives to attract foreign investment into Egypt's oil and gas industry, while instructing his government to accelerate payments owed to international companies in a bid to reinforce the country's credibility with investors. At a meeting with Prime Minister Moustafa Madbouly and Petroleum Minister Karim Badawy, the president reviewed progress on oil and gas production between July 2024 and August 2025 and on plans to turn Egypt into a regional energy hub, according to a presidential statement. Badawy presented updates on exploration, infrastructure upgrades to secure domestic gas supplies, and Egypt's long-term integrated energy strategy to 2040. Cairo is seeking to lure greater participation from global energy groups, with Badawy pointing to positive developments in their operations as a sign of rising investor confidence. Sisi also instructed officials to accelerate the development of newly discovered wells and expand exploration, underscoring the urgency of meeting growing domestic needs while positioning Egypt as a key player in the eastern Mediterranean energy market. Attribution: Amwal Al Ghad English
