Egypt’s crude oil production has reached its highest level in nearly two years, reflecting the success of the Ministry of Petroleum and Mineral Resources’ strategy to stimulate investment and boost domestic output. Speaking during an inspection tour of oil projects at the Alexandria Petroleum Refining Company on Saturday, Petroleum and Mineral Resources Minister Karim Badawi said the ministry’s settlement of outstanding dues to international partners had encouraged fresh investments and accelerated exploration, development and production activities. The minister said higher crude oil and condensate output, coupled with increased supplies of domestic and imported crude to Egypt’s refineries, had driven a significant expansion in the country’s refining sector in 2026. Increased refinery throughput has also enhanced the value added from crude oil by converting it into higher-value petroleum products while making better use of Egypt’s refining capacity. Badawi noted that refinery utilisation rates have risen to around 80 per cent this year, helping meet domestic demand for petroleum products, reduce imports and expand exports of products in which Egypt has a surplus. He said the sector’s stronger performance had translated into a sharp increase in exports, with petroleum product shipments exceeding 2.3 million tonnes in the first half of 2026. Exports are projected to rise to 2.5 million tonnes in the second half of the year. Exports of petroleum products, including jet fuel, naphtha, waxes and vacuum distillate, generated approximately $2.3 billion between January and June 2026. Badawi said gasoline production at the Mostorod refinery complex, operated by Cairo Oil Refining Company, has increased by around 45,000 tonnes per month, while monthly jet fuel output has risen by 40,000 tonnes. Meanwhile, the Alexandria National Refining and Petrochemicals Company (ANRPC) is operating at more than 110 per cent of its design capacity, while the Alexandria Petroleum Refining Company has increased monthly production of RON 92 gasoline by 10,000-15,000 tonnes. The minister said stronger integration among Egypt’s refining companies has become a key pillar of efforts to maximise value addition through directing intermediate products between facilities for conversion into higher-value end products. The approach has boosted output of base oils, waxes, Euro-specification diesel, jet fuel and linear alkyl benzene (LAB), a key feedstock used in detergent manufacturing. Badawi added that the ministry is pressing ahead with a new package of refinery development projects worth around $4.5 billion to strengthen Egypt’s energy security, reduce the import bill and enhance the competitiveness of the country’s petroleum exports. The post Egypt’s crude oil output reaches two-year high as refining exports surge appeared first on Egyptian Gazette.
