Cairo: Petroleum Minister Karim Badawi announced Saturday, July 25, 2026, that Egypt's crude oil production hit its highest level in nearly two years, driven by settling partner dues to boost local output.

According to State Information Service Egypt, Badawi, while inspecting Alexandria Petroleum Company refinery projects, explained that increased production and refinery supply fueled a 2026 refining boom. Operating rates rose to 80%, meeting local needs, curbing imports, and expanding surplus exports.

First-half 2026 petroleum exports exceeded 2.3 million tons worth $2.3 billion, matching 2025's total, with second-half exports projected at 2.5 million tons. The efficiency programs, supervised by the Egyptian General Petroleum Corporation (EGPC), boosted gasoline, jet fuel, and diesel production across multiple refineries. This inter-company integration maximized added value for base oils, Euro-spec diesel, and LAB.

The ministry is advancing $4.5 billion in refinery development projects to bolster energy security and lower import costs. Badawi inspected Alexandria Petroleum's lube oil complex revamp, emphasizing safety while reviewing a EGP 150 million project by Reham Alfa's team that restored two 45-year-old boilers. This saved EGP 2 billion over buying new units and will cut annual operating costs by EGP 30 million with zero accidents.

Badawi praised the local execution and urged the international expansion of such services. Alexandria Petroleum boosted FY 2025/2026 asphalt and fuel oil output alongside high-value inputs.