PM praises government-CBE coordination to secure petroleum supplies ...Egypt

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PM praises government-CBE coordination to secure petroleum supplies
source : EGYPT INDEPENDENT ( Egypt ) () 54
Prime Minister Mostafa Madbouly praised the full and ongoing coordination between the government and the Central Bank of Egypt (CBE) in securing the financial resources needed to build up petroleum product reserves. During his meeting on Sunday, August 10th, 2025, with CBE Governor Hassan Abdalla and Petroleum and Mineral Resources Minister Karim Badawi, Madbouly stressed that the government is taking all necessary proactive measures to ensure the electricity sector’s needs for petroleum materials are met, in addition to meeting the requirements of industry and other uses. The meeting was held as part of ongoing follow-up on efforts to provide various petroleum products, the latest updates on settling foreign partners’ dues, and other related issues. Cabinet Spokesman Mohamed al-Homosani said the meeting discussed efforts made by the banking sector, in coordination with relevant ministries and agencies, to secure the necessary foreign currency to meet the country’s needs of petroleum products. He added that the talks also covered petroleum exploration plans, developments in the activities of international oil and gas companies operating in Egypt, and the status of payments owed to global partners. The prime minister directed intensifying efforts to settle dues according to agreed timetables, while continuing to attract more investment and remove any obstacles facing investors in these sectors.

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