Egypt's Petroleum Sector Reports Record Discoveries and Refining Capacity

The petroleum sector in Egypt has reported significant progress in fiscal year 2025/26. According to the Ministry of Petroleum and Mineral Resources, the sector recorded 63 new oil and gas discoveries and refined 28 million tons of crude during this period.

Petroleum Minister Karim Badawi announced the results at a meeting where he praised the settlement of outstanding dues to investment partners as a turning point in restoring investor confidence. He added that crude oil production had begun to gradually recover after offsetting the natural decline in output.

Refinery utilization rose to more than 80 percent, helping maximize production capacity and increase diesel and gasoline output. Badawi also acknowledged coordination with the Ministry of Electricity to secure power plants' fuel needs during the summer.