Karem Badawi, Minister of Petroleum and Mineral Resources, met in Dubai with Song Yu, Chairperson and CEO of China’s United Energy Group (UEG), alongside Kamel El-Sawy, UEG’s Regional President for Africa, and an accompanying delegation.
The discussions centred on UEG’s strong interest in increasing its investments in Egypt, building on the country’s favourable investment climate and the strategic partnership the company has developed with Egypt’s petroleum sector in Iraq. Encouraged by these successes, UEG aims to explore broader avenues of cooperation and expand into regional and global markets in partnership with Egypt.
Both sides reviewed potential collaboration in energy trading to strengthen commercial integration and enhance access to international markets. This aligns with their shared goal of deepening global reach and improving the efficiency of the energy sector’s value chain.
As part of the visit, the Minister attended the signing of a Memorandum of Understanding between the Ministry of Petroleum and Mineral Resources and UEG. The MoU sets out a framework to explore investment opportunities in Egypt’s oil and gas sector, as well as potential expansion into renewable energy projects and energy trading.
The MoU was signed by Ehab Ragaa, First Undersecretary of the Ministry of Petroleum for Production, and Song Yu, Chairperson of United Energy Group.
Following the signing, Song Yu praised the strong cooperation with Egypt’s petroleum sector, noting that concrete achievements on the ground reaffirm the company’s commitment to further expand this partnership—particularly in light of the Ministry’s strategic direction and efforts to attract new investments.
To mark the occasion, Song Yu presented a commemorative shield to the Minister, recognising his leadership and dedication to supporting the energy sector and fostering an attractive investment environment.
The meeting and ceremony were also attended by Nasser Shoman, Undersecretary of the Ministry of Petroleum for Transportation and Marketing, and Mohamed El-Bagoury, Supervisor of the Central Legal Affairs Department at the Ministry.
