Written by: Islam El-Saqqa
President Abdel Fattah El-Sisi presented a vital economic scenario regarding the future of the energy sector in Egypt, reviewing the potential repercussions of oil prices reaching record levels of $150 per barrel, during the activities of the fourth day of the Egypt 2026 Forum.
Scenarios for rising oil prices and their impact on electricity
The President's remarks came during a session titled "The Egyptian Energy Journey: National Achievements and Future Prospects," where he questioned the mechanism of government and institutional handling if the price of a barrel of oil reached $150, and the extent of the citizens' readiness to bear the associated repercussions, which might include power outages for periods ranging between four and five hours daily as a result of the enormous pressure on fuel costs.
Challenges of petroleum sector debts and fuel import costs
The discussion during the session touched on the financial situation of the petroleum sector, including the volume of debts and the cost of providing the petroleum products necessary to operate power generation plants regularly. The discussions also included the urgent monthly needs for foreign currency to import fuel from abroad and cover the dues of foreign partners, in light of the current global and local economic challenges facing the markets.
The importance of media transparency in the energy file
The President emphasized the extreme importance of presenting the energy file to citizens clearly and transparently, while clarifying the scale of challenges, real costs, and potential future scenarios. He directed a direct message to the media regarding the necessity of conveying statements related to this strategic file in their full context without truncation, to ensure the accurate picture reaches public opinion and to avoid any confusion in interpreting economic decisions and challenges.
