Egypt reviews fuel reserve financing plan ahead of summer

Egypt’s Prime Minister Moustafa Madbouly chaired a meeting on Tuesday to review a plan to secure the financial requirements needed to build additional fuel reserves ahead of the summer season and during fiscal year 2026-2027. Central Bank Governor Hassan Abdalla and ministers Mahmoud Esmat, Ahmed Kouchouk, and Karim Badawi attended the meeting.

Discussions focused on arrangements to secure the financing required to increase fuel reserves and meet rising consumption demand during the summer period and throughout fiscal year 2026-2027.

The meeting also reviewed the fuel quantities needed to operate power plants during the summer season, as the government is securing supplies from multiple sources in preparation for different scenarios over the next few months.

The plan includes coordination between the Central Bank and the Finance Ministry to secure the financing needed to cover the required fuel quantities.

Officials also stressed full coordination between the electricity and petroleum ministries under an integrated plan aimed at securing sufficient fuel supplies for power plants and ensuring uninterrupted operations under various potential circumstances.

Attribution: Amwal Al Ghad English