Egypt’s Petroleum Product Exports Reach $2.3 Billion in First Half of 2026

Egypt exported more than 2.3 million tonnes of petroleum products worth around $2.3 billion in the first half of 2026, matching the total volume shipped during the whole of last year, according to official figures.

The Ministry of Petroleum and Mineral Resources said exports including jet fuel, naphtha, waxes and vacuum distillate had reached last year’s full-year level in only six months. It expects exports to increase to 2.5 million tonnes during the second half of the year.

The figures highlight Egypt’s efforts to expand its refining industry as the government seeks to increase foreign-currency earnings and strengthen energy security.

Domestic crude oil production has faced pressure in recent years, but Cairo has accelerated refinery upgrades and introduced measures aimed at attracting investment in exploration and production. The strategy is designed to reduce dependence on imported fuels 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 around two years.

The ministry attributed the rise to measures aimed at encouraging investment, including the settlement of outstanding payments to investment partners. Officials said this had encouraged companies to increase spending on exploration, development and production.

Badawi said higher crude and condensate output, combined with greater supplies of domestic and imported crude to refineries, had helped boost processing activity this year.

Refinery utilisation has risen to around 80%, allowing Egypt to meet more domestic demand, reduce fuel imports and export surplus petroleum products, according to the ministry.

Several state-owned facilities have also increased production. Cairo Oil Refining Co.’s Mostorod gasoline complex has raised monthly output by around 45,000 tonnes of gasoline and 40,000 tonnes of jet fuel.

Alexandria National Refining and Petrochemicals Co. has been operating at more than 110% of its designed capacity, while Amreya Petroleum Refining Co. has increased monthly production of 92-octane gasoline by between 10,000 and 15,000 tonnes.

The ministry also reported higher operating rates at the Middle East Oil Refinery and upgrades at Alexandria Petroleum Co.’s oils complex.

Egypt is preparing a new group of refinery development projects with estimated investment and financing of about $4.5 billion. The projects are intended to improve energy security, reduce the cost of imports and strengthen the competitiveness of Egyptian exports.

The expansion comes as the International Monetary Fund forecasts Egypt’s economy will grow by 4.6% in the 2025/26 financial year, up from 4.4% in 2024/25.

Badawi recently inspected upgrades at Alexandria Petroleum Co.’s oils complex, including the rehabilitation of two boilers that had been operating for about 45 years. The work forms part of wider efforts to modernise a refinery that has been operating for nearly 75 years.