Egypt’s oil minister prioritises petrochemicals in national strategy

Egypt’s Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, emphasised the strategic importance of the country’s petrochemicals industry during the General Assembly of the Egyptian Petrochemicals Company. He highlighted its role in generating substantial foreign currency revenues and leveraging Egypt’s robust petroleum infrastructure to expand value-added industries. These remarks were made at a meeting attended by senior officials, including Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Transport Minister, and Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy.

Badawi outlined plans to direct domestically produced natural gas, particularly from the Western Desert and Mediterranean fields, towards petrochemical production. This aims to maximise value-added outputs and avoid wastage in local consumption, with a focus on exporting high-quality products to global markets. He also stressed the importance of operating petrochemical plants at full capacity by securing all necessary industrial inputs.

The minister commended the company’s employees for maintaining production rates, implementing strategic projects, and innovating to reduce energy consumption and costs while adhering to safety standards. He underscored the need to reduce emissions to ensure Egyptian petrochemical products remain competitive globally, aligning with international climate preservation efforts.

Engineer Ahmed Mawqi, Chairman of the Egyptian Petrochemicals Company, reviewed the company’s performance, noting that PVC production exceeded 30,000 tons and caustic soda production reached 55,000 tons, meeting 100 per cent of targets. The company also exported 9,000 tons of PVC and 20,000 tons of caustic soda. Mawqi highlighted the company’s integration with sister firms, supplying inputs for industries such as electricity and water filtration.

Attribution: Amwal Al Ghad English

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