The government is currently working on finishing all petroleum projects on time, if not earlier, to achieve its plans of self-sufficiency and be an exporter instead of an importer, according to AlWatan News.
The ministry aims to achieve self-sufficiency of all petroleum products during the next two years, which coincides with the completion of all the new expansions in the Egyptian refineries during the fiscal year (FY) 2022/2023.
Egypt has already begun to achieve self-sufficiency of natural gas and started exporting it.
Egypt’s imports of crude oil dropped from $132.7 million in January 2018 to $105.2 million at the beginning of this year, a decline of 20.8%.
Meanwhile, imports of petroleum products fell by 15.4% in May 2019 to $ 617.6 million compared to $ 730 million in May 2018.