Egypt's Oil Output Hits Two-Year High Amid Refinery Investments

Egypt's crude oil production has reached its highest level in nearly two years, according to Minister of Petroleum and Mineral Resources Karim Badawi. The minister credited settling outstanding payments with investment partners in June with restoring confidence and attracting new capital.

The increase in production is part of a broader effort by the Ministry of Petroleum and Mineral Resources (MoPMR) to boost energy security and reduce import costs. To this end, MoPMR is moving forward with $4.5 billion in refinery projects aimed at sharpening Egypt's export edge.

In addition to increased oil production, the country's petroleum product exports have also seen a significant increase. In the first half of 2026, exports topped 2.3 million tons, generating around $2.3 billion. Badawi expects this figure to reach 2.5 million tons in the second half of the year.