Petroleum Minister: Egypt’s crude oil production reaches highest level in two years

Petroleum Minister Karim Badawi announced Saturday, July 25, 2026, that Egypt’s crude oil production hit its highest level in nearly two years, driven by settling partner dues to boost local output. Inspecting Alexandria Petroleum Company refinery projects, Badawi explained that increased production and refinery supply fueled a 2026 refining boom. Operating rates rose to 80%, meeting local needs, curbing imports, and expanding surplus exports. First-half 2026 petroleum exports exceeded 2.3 million tons worth $2.3 billion, matching 2025’s total, with second-half exports projected at 2.5 million tons. The efficiency-programs, supervised by the Egyptian General Petroleum Corporation (EGPC), boosted gasoline, jet fuel, and diesel production across multiple refineries, while inter-company integration maximized added value for base oils, Euro-spec diesel, and LAB. The ministry is advancing $4.5 billion in refinery development projects to bolster energy security and lower import costs. Badawi inspected Alexandria Petroleum’s lube oil complex revamp, emphasizing safety while reviewing a LE150 million project by Reham Alfa’s team that restored two 45-year-old boilers. This saved two billion LE over buying new units and will cut annual operating costs by LE30 million with zero accidents. Badawi praised the local execution, urging international expansion of such services, as Alexandria Petroleum boosted FY 2025/2026 asphalt and fuel oil output alongside high-value inputs. The post Petroleum Minister: Egypt’s crude oil production reaches highest level in two years appeared first on Egypt Independent.Read the full article at Egypt Independent