Egypt is implementing six petroleum refinery development projects with total investments exceeding $4bn, Minister of Petroleum and Mineral Resources Karim Badawi said. The minister and officials from the IFC, a member of the World Bank Group, discussed investment and financing opportunities in petroleum refining, petrochemicals, and value-added industries, as well as the mining sector. Badawi detailed reforms implemented over the past 18 months to improve the investment climate in the oil and gas sector. In the mining sector, the minister highlighted reforms intended to attract investment in gold and mineral exploration. Badawi added that maintaining project safety, asset integrity, and environmental compliance are “non-negotiable” constants for the petroleum sector.

Source: Daily News Egypt February 16, 2026 17:03 UTC