Egypt Puts $4.5 Bn into Refinery Investments Amid Imports Cutback

Egypt's government has outlined plans to boost oil and natural gas production and reduce reliance on imports. As part of its FY2026/27 development plan, the Ministry of Petroleum and Mineral Resources will focus on increasing output, attracting new investment, and expanding local value-added activities.

The ministry also plans to spend $4.5 bn on refinery development to increase local production and cut down on petroleum product imports. This move is aimed at meeting domestic energy needs while reducing the country's reliance on imported fuels.

Egypt's petroleum sector returned to growth in Q3 FY2025/26, driven by higher domestic production of crude oil, condensates, and liquefied petroleum gas (LPG). The government sees this as a key support for economic activity and part of Egypt's national security.