Egypt’s oil refining activity grew 22.4% year-on-year (YoY) in the third quarter (Q3) of fiscal year (FY) 2025/26, while the sector grew 8.7% over the full fiscal year, according to a statement by the Cabinet.
The figures were discussed during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Ahmed Rostom, Minister of Planning and Economic Development, to review petroleum sector performance, production growth, investment, and services.
The meeting also reviewed the expansion and development of fuel service stations to improve access and keep pace with growth in urbanization. The number of stations almost doubled from 2,900 in 2014 to 4,107 by the end of FY2025/26, including stations serving remote, desert, and new urban communities.
Rostom highlighted the sector’s role in meeting domestic energy needs, supporting economic activity, attracting investment, and increasing value added. He also noted that the settlement of outstanding dues to foreign partners has helped restore investor confidence and support increased investment in exploration and field development.
Badawi said crude oil production has returned to growth, refining activity is expanding, and the decline in natural gas production has been contained, paving the way for a return to growth. He stressed that increasing domestic oil and gas production remains a ministry priority through developing existing fields and intensifying exploration to meet domestic demand and reduce imports. The settlement of partners’ arrears has helped restore investment flows needed for exploration and field development, he added.
Badawi said the ministry is prioritizing the expansion of natural gas connections to households as an alternative to liquefied petroleum gas (LPG) cylinders, alongside converting more vehicles to natural gas and expanding fueling stations.
The ministry is also coordinating with the Ministry of Electricity and Renewable Energy to increase renewables’ contribution to power generation, reducing gas consumption and the need for imports.
Meanwhile, projects connecting Cypriot gas fields to Egypt’s infrastructure are expected to strengthen Egypt’s regional energy hub role, maximize the use of existing facilities, and secure additional gas supplies for the domestic market.
Egypt’s crude oil production has returned to a growth trajectory, exceeding 540,000 barrels per day (bbl/d) in June 2026 after several years of decline. During FY2025/26, the petroleum sector recorded $4.5 billion in exploration and production investments and 63 discoveries, according to the Ministry of Petroleum.
