Tuesday 20 February 2024 01:00 AMEgypt’s President Abdel Fattah Al-Sisi said on Monday that the Suez Canal, which used to earn about $10bn a year, has seen its revenues drop by 40-50%. He also mentioned the situation in the Gaza Strip, which affects the shipping corridor that brings billions of dollars to Egypt. Al-Sisi met with Murray Auchincloss, the CEO of British Petroleum (BP), on the sidelines of the conference. The president praised BP’s work in clean energy transition and emissions reduction and said Egypt shared the same vision of a just energy transition. Auchincloss, according to a statement from the Egyptian presidency, applauded Egypt’s balanced strategy of developing the energy sector and shifting to clean energy, which taps into Egypt’s huge potential in this field.

Source: Daily News Egypt February 20, 2024 09:09 UTC