Petroleum Min.: fresh financing into energy consumption reduction projects

Egypt plans to pump around $2 billion into new projects around energy consumption efficiency by the end of the year, and intends to decrease carbon emissions by 2.5 million tons annually by 2030, alongside of expanding the country's oil and gas exploration efforts, according to newly-appointed Minister of Petroleum and Mineral Resources, Karim Badawi. Speaking at a parliamentary committee meeting yesterday, Badawi unveiled ambitious plans for Egypt's energy sector, highlighting significant investments aimed at enhancing energy efficiency, curbing carbon emissions, and expanding the country's oil and gas exploration. Badawi also emphasized that these efforts are pivotal to Egypt's sustainable development strategy, reflecting a proactive stance on climate action and energy transition. Source: State Information Service Egypt