Karim Badawi, Minister of Petroleum and Mineral Resources, has approved the investment plans for the Alexandria Petroleum Company (APC) and the Amreya Petroleum Refining Company (APRC) for the fiscal year (FY) of 2026/2027. This came during the general assembly meetings of the two companies.
According to a statement from the Ministry of Petroleum and Mineral Resources (MoPMR), the APC has allocated EGP 10 billion for investments in the upcoming FY. Reham Mohamed, Chairperson of APC, highlighted that this sum would be directed to several replacement and renewal projects. Notably, the successful rehabilitation of one of the boilers saved the company EGP 1.7 billion, which is the cost of purchasing a new unit.
Simultaneously, the APRC is advancing its investment allocation toward several high-impact projects. Mohamed Sobhi, Chairman of APRC, announced that the company is currently implementing a Naphtha Improvement and Aromatics Production Complex. This project is designed to boost the output of benzene and gasoline, directly contributing to a stronger bottom line and higher net profit.
APRC’s capital plan also includes significant decarbonization and energy-saving initiatives, such as improving furnace efficiency in the aromatics complex to save 1,000 tons of fuel gas annually and conducting boiler renewals expected to conserve 450 tons of natural gas per year. Additionally, the company is implementing a steam trap replacement program aimed at reducing carbon emissions by approximately 261 tons annually.
The Minister directed all refining companies to monitor product quality through certified laboratories, ensuring that test results are transparently presented during future assemblies.
The meetings were held via video conference with the participation of Deputy Prime Minister for Industrial Development Kamel El-Wazir, Minister of Electricity and Renewable Energy Mahmoud Esmat, and Minister of Local Development Manal Awad. Also in attendance were EGPC CEO Salah Abdel Kerim and EGAS Chairman Sayed Selim.
APC is a refining company that produces 55% of the national consumption of basic oils, 80% of the national consumption of special solvents, e.g free odor hexane, and 65% of the national consumption of bitumen products and heavy-duty bitumen.
The APRC is a pioneer in specialized production. The company launched Egypt’s first dedicated unit for medicinal-grade white oil in 1999 and continues to serve as a critical producer of high-specification petroleum derivatives, paraffin waxes, and alkylates.
