Egypt exports $2.3 billion in petroleum products in the first half of 2026

Egypt exported more than 2.3 million tons of petroleum products worth about $2.3 billion in the first half of 2026, matching its total export volume for all of 2025, according to official data.

The Ministry of Petroleum and Mineral Resources said exports of products, including jet fuel, naphtha, waxes, and vacuum distillate, reached the full-year volume of the previous year in just six months. It expects exports to total 2.5 million tons in the second half of 2026.

The increase comes as Egypt works to expand refining capacity, strengthen energy security, and boost foreign currency revenues. While domestic crude production has faced pressure in recent years, the government has accelerated refinery upgrades and introduced measures to attract upstream investment, aiming to reduce fuel imports while increasing exports of higher-value refined products.

Petroleum and Mineral Resources Minister Karim Badawi said Egypt’s crude oil production had reached its highest level in about two years.

The ministry attributed the increase to measures designed to attract investment and raise domestic production, including settling outstanding payments to investment partners. It said the move had encouraged companies to increase spending and accelerate exploration, development, and production activities.

Badawi said higher crude oil and condensate output, combined with increased volumes of domestic and imported crude supplied to Egyptian refineries, had boosted refining activity in 2026 and increased the value added from crude processing.

According to the ministry, refinery utilization has risen to about 80% this year, helping meet domestic demand, reduce fuel imports, and increase exports of surplus petroleum products.

Operational improvements at state-owned refineries have also increased output. Cairo Oil Refining Co.’s Mostorod gasoline complex has increased monthly production by about 45,000 tons of gasoline and 40,000 tons of jet fuel, while Alexandria National Refining and Petrochemicals Co. has been operating at more than 110% of its design capacity.

Amreya Petroleum Refining Co. has increased the monthly production of 92-octane gasoline by 10,000 to 15,000 tons. The ministry also reported higher operating rates at the Middle East Oil Refinery and upgrades to Alexandria Petroleum Co.’s oils complex.

The ministry is also advancing a package of refinery development projects with an estimated investment and financing value of about $4.5 billion. The projects are intended to strengthen energy security, reduce the fuel import bill, and improve the competitiveness of Egyptian exports.

The refinery expansion comes as the International Monetary Fund projects Egypt’s economy to grow 4.6% in fiscal year 2025/26, up from 4.4% in fiscal year 2024/25.

Separately, Badawi inspected upgrades at Alexandria Petroleum Co.’s oils complex, part of a refinery that has been operating for nearly 75 years. The project included the rehabilitation of two boilers that had been in service for about 45 years, in collaboration with Cairo Petroleum Refining Co. and under the supervision of the Egyptian General Petroleum Corp.