Prime Minister Moustafa Madbouly affirmed that the government is taking serious and well-planned measures to secure and expand strategic reserves of petroleum products, with the aim of strengthening the national economy’s resilience and ensuring domestic market stability amid ongoing regional geopolitical tensions and global uncertainty.
Madbouly made the remarks during a meeting held on Wednesday, July 29, 2026, to review efforts to increase the country’s strategic reserves of petroleum products. The meeting was attended by Minister of Finance Ahmed Kouchouk, Minister of Petroleum and Mineral Resources Karim Badawi, and a number of officials from both ministries.
The Prime Minister said the government is closely monitoring global and regional developments and their potential repercussions, while implementing flexible contingency plans and alternative scenarios to address various challenges. He stressed that these measures aim to prepare proactively for any unexpected developments, maintain the sustainability of energy supplies, and meet the needs of citizens as well as economic and productive sectors.
During the meeting, Badawi reviewed the current status of petroleum product supplies and the latest developments in the ministry’s plan to expand storage capacity, secure future supply flows, and strengthen logistics arrangements. He said these efforts are part of the state’s strategy to establish a safe and sustainable strategic petroleum reserve, emphasizing the ministry’s readiness to meet domestic market needs and support all productive sectors.Badawi also outlined measures taken by the ministry to meet increased energy demand during the summer season.
He reviewed the regular arrival of liquefied natural gas (LNG) shipments and petroleum fuel supplies needed to ensure the stable and uninterrupted operation of electricity generation networks and power plants, maintaining reliable electricity supplies in all sectors and keeping pace with higher consumption levels.
He noted that these efforts are being carried out in close coordination with the Central Bank of Egypt, the Ministries of Finance and Electricity and Renewable Energy, as well as other relevant ministries and authorities. For his part, Kouchouk reviewed ongoing coordination and joint efforts between the Ministry of Finance, the Central Bank of Egypt, and the Ministry of Petroleum and Mineral Resources to secure sustainable financial flows and funding required to strengthen the country’s strategic petroleum reserves.
He said these efforts aim to support market stability and enhance the efficient performance of various economic sectors. At the conclusion of the meeting, Madbouly directed the Ministries of Finance and Petroleum and Mineral Resources, the Central Bank of Egypt, and relevant authorities to maintain continuous coordination in monitoring developments in global energy markets.
He also called for continued cooperation to provide the necessary logistical and financial support on a sustained basis, in order to strengthen local market stability and meet the needs of citizens, service sectors, and productive activities.