Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), said Egypt’s crude oil production has hit its highest level in nearly two years. He credited settling outstanding payments to investment partners in June with restoring confidence, attracting new capital, and accelerating exploration and production.
During his visit to Alexandria Petroleum Company (APC), Badawi said refinery utilization reached around 80% this year.
In the first half of 2026, petroleum product exports topped 2.3 million tons (Sales of jet fuel, naphtha, waxes, and vacuum distillates brought in about $2.3 billion). That matches all of 2025. Badawi said exports should reach 2.5 million tons in the second half of 2026.
Modernization and efficiency programs by the Egyptian General Petroleum Corporation (EGPC) increased production of gasoline, jet fuel, and diesel and improved refinery performance.
Cairo Oil Refining Company (CORC) in Mostorod now produces 45,000 more tons of gasoline and 40,000 more tons of jet fuel per month. Alexandria National Refining and Petrochemicals Company (ANRPC) is running at over 110% of design capacity, and Amreya Petroleum Refining Company (APRC) has boosted 92-octane gasoline output by 10,000–15,000 tons monthly. Middle East Oil Refinery (MIDOR) and APC have also increased operating rates.
MoPMR is moving forward with $4.5 billion in refinery projects to boost energy security, cut import costs, and sharpen Egypt’s export edge.
The visit saw Badawi inspect APC’s lubricants complex, where he was briefed by the company’s Chairman Reham Olfa and other executives on the modernization project in partnership with CORC and EGPC.
The modernization cost EGP 150 million. That modernization saves EGP 30 million annually, cuts gas use, extends equipment life, and lowers emissions.
APC also increased asphalt and fuel oil output in FY 2025/26, supplied intermediate feedstocks for high-value products, and continues to produce lubricants, waxes, and solvents for industry.
Egypt’s rebound in oil output and refining follows major reforms by MoPMR and investing over $4 billion to expand EGPC refineries, aiming to boost capacity, reduce fuel imports, and position the country as a regional energy hub.
