Egypt's Cement Sector Requested to Reduce Carbon Footprint

A general view of the cement plant in Beni Suef, Egypt (File Photo: Reuters)
A general view of the cement plant in Beni Suef, Egypt (File Photo: Reuters)
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Egypt's Cement Sector Requested to Reduce Carbon Footprint

A general view of the cement plant in Beni Suef, Egypt (File Photo: Reuters)
A general view of the cement plant in Beni Suef, Egypt (File Photo: Reuters)

Egypt's cement sector has been requested to reduce its carbon footprint in light of the state's directions to reduce carbon emissions and combat climate change, according to recent studies.

The CEO of Dcode for Economic and Financial Consultations (Dcode EFC), Mohamed Abdel Aziz, explained that the private cement sector must find solutions to reduce the industry's carbon footprint.

He called for increasing scientific research and development to use recycled materials and alternative sources of energy.

Speaking at the "Cement Industry and Sustainable Development" conference, organized by Lafarge Egypt, a member of the global "Holcim" group, Abdel Aziz pointed to the importance of the state's role in encouraging and facilitating the use of environmentally friendly products in construction.

CEO of Lafarge Egypt Solomon Baumgartner Aviles said that the company focuses on sustainable development from the circular economy, one of the pillars of Egypt's Vision 2030.

Lafarge is fully committed to contributing to the achievement of the goals of Holcim, which include reducing the carbon dioxide intensity to more than 20 percent until 2030.

He also indicated that Lafarge is collaborating with Holcim after it partnered with SBTi for goals beyond 2030 by setting the first climate targets for a future of 1.5°C in the cement sector by 2050.

Aviles added that innovation is one of the axes of Egypt's Vision 2030, which shares the same vision with Lafarge Egypt through the production of environmentally friendly cement products.

He pointed to the company's plan to increase exports, as Lafarge seeks to open new markets for export, expressing the importance of raising taxes on production inputs such as limestone granules, linking energy prices to international standards, and securing their availability.

Aviles also called reducing transportation time, refunding payments in the export support program, rehabilitating port infrastructure, and creating an efficient port structure that can accommodate heavy trade.



Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
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Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo

Oil prices edged up on Thursday on signs of easing trade tensions, stronger than expected economic data from the world's top oil consumers and renewed risks in the Middle East.

Brent crude futures were up 17 cents, or around 0.3%, to $68.67 a barrel at 0856 GMT. US West Texas Intermediate crude futures were up 31 cents, or 0.5%, at $66.69.

"Oil thinking has been distracted from the Middle East, and the reminders of Israel's attacks into Syria and the drone attacks on oil infrastructure in Kurdistan are timely and once again add a little fizz to proceedings," said John Evans, analyst at PVM Oil Associates, Reuters reported.

"Any other incident that deprives the market of barrels will be added to the low inventory narrative and we expect prices to continue to hold with any risk being to the upside."

Drone attacks on oilfields in Iraq's semi-autonomous Kurdistan region have slashed crude output by up to 150,000 barrels per day, two energy officials said on Wednesday, as infrastructure damage forced multiple shutdowns.

Meanwhile, US President Donald Trump has said letters notifying smaller countries of their US tariff rates would go out soon, which along with his renewed optimism about prospects of a deal with Beijing on illicit drugs and an agreement possible with Europe helped calm investors.

"Trump softened tones on China and proposed lower tariff rates on smaller countries, which are seen as positive developments in the global trade outlooks," said independent analyst Tina Teng.

"China's better-than-expected economic data and the US's larger-than-expected oil inventory draw have both been bullish factors for oil prices."

US crude inventories fell more than expected by 3.9 million barrels to 422.2 million barrels last week, the Energy Information Administration said on Wednesday, suggesting stronger refinery activity, tighter supply, and increased demand.

However, larger than expected builds in gasoline and diesel inventories capped price gains, raising concerns of weakening demand from summer travel, ANZ analysts said in a note on Thursday.

Data showed that China's June crude oil throughput was up 8.5% from a year ago, implying stronger fuel demand.