War Halved Suez Canal Revenues - Former Egyptian Petroleum Minister | Exclusive

In an exclusive interview, Tarek El Molla, Egypt's former Minister of Petroleum and Mineral Resources, said the Iran-U.S. conflict has dealt a direct blow to Egypt's economy. As a net energy importer, Egypt has been hit hard by Brent crude surging past $100 a barrel — far above the $75 assumed in the state budget — and LNG prices exceeding $20 per million BTU, putting heavy pressure on public finances. Suez Canal transit revenues, once around $10 billion a year, have plunged to roughly $4–5 billion as Red Sea and Bab el-Mandeb shipping dried up, and El Molla argued the waterway will only recover when peace and calm return to Bab el-Mandeb and the Strait of Hormuz. He also highlighted China-Egypt energy cooperation as a strategic priority — spanning solar power, oil and gas exploration in the Western and Eastern Deserts, and new petrochemical plants — and stressed that the stability of Egypt and the Gulf states is interdependent: "What harms them harms us."
__________________
ShanghaiEye focuses on producing top-quality contents.
Nobody knows SHANGHAI better than us.
Please subscribe to us ☻☻☻
__________________
For more stories, please click

■ What's up today in Shanghai, the most updated news of the city
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MNjpE4hspSVry8dR555getN

■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MMVTWr-zIXjsS4hhSQPmyes

■ What Chinese people's lives are like during the post COVID-19 period
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MPrPTmIirpfgETu6VKVESXe

■ Views of foreign scholars on China and its affairs
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MO9ua_nSK6slRPdUl-ovjRe

■ Foreign faces in Shanghai, people living in this city sharing their true feelings
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MP0vJDSw23_1MCPJhAfGbiG

■ Mini-docs showing why China is the country it is today
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MOreRu2AbZ3ziIUyCcdBLwX

__________________
☎Leave us messages if you have any suggestions or questions!
Thank you!