Karim Badawi, Minister of Petroleum and Mineral Resources, directed Cooperation Petroleum Company (CPC) to prepare a five-year plan to expand its products and services into neighboring markets after the company reported strong growth in FY 2025/26.

Badawi issued the directive during CPC’s general assembly meeting to approve its FY 2025/26 results. Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Manal Awad, Minister of Local Development and Environment, attended via video conference.

Badawi said CPC has the technical and operational experience to strengthen its competitiveness abroad, particularly in lubricants and chemical industries. He also called for continued improvements in product and service quality while maintaining health and safety standards.

CPC Chairman Mostafa El Sayed said net profit increased 43% year-on-year (YoY), while export lubricant sales rose 30% to 1,324 tons. The company held a market share of around 16%.

Ship bunkering volumes surged 610% to around 107,000 tons from 17,500 tons a year earlier, while domestic bunkering volumes reached about 65,000 tons. Bunkering fuel sales and service revenues rose 485% to around $80 million from $16.5 million.

The results extend growth reported in February 2026, when CPC said ship bunkering volumes had risen 205% YoY during the July-December 2025 period, pushing sales value up 217% to $19.5 million. At the time, Badawi called on CPC to make greater use of its tanker fleet to strengthen its ship bunkering business.

CPC also outlined EGP 1.2 billion in planned investments for FY 2026/27 in February, as the company continued expanding its lubricants and petroleum products activities in domestic and regional markets.