Egypt Oil Output Hits Two-Year High on Settled Foreign Partner Dues

Egypt has reached its highest crude oil production level in nearly two years, driven by settled foreign partner dues that boosted local upstream exploration and refining utilization to 80 percent across domestic processing plants.

The country's petroleum product exports for the first half of 2026 topped 2.3 million tons, generating $2.3 billion in revenue and matching the total export volume recorded throughout 2025, according to the Ministry of Petroleum and Mineral Resources.

To support long-term energy security, reduce fuel import expenditures, and increase surplus exports, the ministry is advancing $4.5 billion in refinery development initiatives.