Petroleum exports reach $2.3B in six months
Egypt's Minister of Petroleum and Mineral Resources, Kareem El-Badawy, confirmed that Egypt's crude oil production has reached its highest level in nearly two years. This achievement is thanks to the strategy of enhancing investment and providing entitlements to partners, which encouraged increased production and the implementation of exploration, search, and development operations. He pointed out that the rise in production contributed to improving the refining sector in 2026, with refinery operation rates rising to approximately 80%. This helped meet domestic market needs, reduce imports, and increase petroleum exports, which surpassed $2.3 billion in the first half of 2026. These exports include products such as aviation fuel, naphtha, oils, and candles. The minister also reviewed the results of developing and improving the efficiency of the Alexandria Oil Complex, as well as projects for upgrading refineries valued at $4.5 billion, aimed at enhancing energy security and reducing reliance on imports. He indicated that these development efforts led to increased production and reduced costs, while maintaining safety standards and achieving annual savings estimated at 30 million Egyptian pounds in operating costs.
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