Arab News: Egypt exported more than 2.3 million tonnes of petroleum products worth about $2.3 billion in the first half of 2026, matching its total export volume for all of last year, official data showed.
The Petroleum and Mineral Resources Ministry said exports of products including jet fuel, naphtha, waxes and vacuum distillate reached last year’s full-year volume in just six months. It expects exports to rise to 2.5 million tonnes in the second half of the year.
The figures reflect Egypt’s push to expand downstream capacity as the country seeks to boost foreign-currency revenues and improve energy security. While domestic crude production has faced pressure in recent years, Cairo has accelerated refinery upgrades and introduced measures to encourage upstream investment, with officials aiming to reduce reliance on imported fuels while exporting higher-value refined products.
In a statement, Petroleum and Mineral Resources Minister Karim Badawi said: “Egypt’s crude oil production recorded its highest level in about two years.”
The ministry added: “This reflects the success of the ministry’s strategy to stimulate investment and increase local production through settling the dues of investment partners, which encouraged them to inject new investments and intensify search, exploration, development and production activities.”
Refinery utilization rises
Badawi said increased crude and condensate output, alongside larger volumes of domestic and imported crude supplied to Egyptian refineries, had strengthened refining activity in 2026 and increased the value added from crude processing.
Refinery utilization has risen to around 80 percent this year, helping to meet domestic demand for petroleum products, curb imports and expand exports of surplus products, the ministry said.
Operational improvements across state-owned refineries have also lifted production. Cairo Oil Refining Co.’s Mostorod gasoline complex increased monthly output by around 45,000 tonnes of gasoline and 40,000 tonnes of jet fuel, while Alexandria National Refining and Petrochemicals Co. has been operating at more than 110 percent of its design capacity.
Amreya Petroleum Refining Co. raised monthly production of 92-octane gasoline by between 10,000 and 15,000 tonnes, while the ministry also cited higher operating rates at the Middle East Oil Refinery and upgrades at Alexandria Petroleum Co.'s oils complex.
Investment and economic context
The ministry is pursuing a new package of refinery-development projects with estimated investment and financing of about $4.5 billion. It said the initiatives are intended to strengthen energy security, reduce the import bill and support the competitiveness of exports.
The refining expansion comes as the International Monetary Fund projects Egypt's economy to grow 4.6 percent in fiscal year 2025/26, up from 4.4 percent in fiscal year 2024/25.
Separately, Badawi inspected upgrades at Alexandria Petroleum Co.'s oils complex, part of a refinery that has been operating for nearly 75 years. The project included rehabilitating two boilers that had been in service for around 45 years, in cooperation with Cairo Petroleum Refining Co. under the supervision of the Egyptian General Petroleum Corp.
https://www.arabnews.com/node/2652339/business-economy
