Egypt targets higher oil and gas output in 2026/2027 development plan

Shree Mishra

Mon, August 10, 2026 astatine 5:34 AM CDT 1 min read

Egypt is readying to summation lipid and state production, pull caller investment, and trim petroleum imports arsenic portion of its 2026/2027 economical and societal improvement strategy.

Minister of Planning and Economic Development Ahmed Rostom and Minister of Petroleum and Mineral Resources Karim Badawy outlined the priorities for the sector.

They cited vigor information arsenic a nationalist precedence successful the discourse of continued determination and planetary geopolitical uncertainty.

The authorities plans to put $4.5bn successful refinery improvement to boost home accumulation and trim reliance connected imported petroleum.

Karim Badawy stated that the program besides includes receiving earthy state from Cyprus and re-exporting it to planetary markets, which officials accidental would heighten Egypt's relation arsenic a determination vigor hub.

Badawy added: "The state besides seeks to person Cypriot state and re-export it to planetary markets, strengthening its presumption arsenic a determination vigor hub.

"The authorities is besides updating its nationalist vigor strategy to grow renewable vigor and enactment higher-value industries."

Ahmed Rostom highlighted that regular payments to overseas petroleum partners person contributed to a much charismatic concern situation and helped the assemblage determination from contraction to affirmative growth.

He reported that the petroleum assemblage saw maturation instrumentality successful the 3rd 4th of the 2025/2026 fiscal year, with a 0.7% summation successful June 2026.

This marked the sector's archetypal affirmative quarterly maturation since the archetypal 4th of 2023/2024, supported by higher output of crude oil, condensates, and liquefied petroleum gas.

"Egypt targets higher lipid and state output successful 2026/2027 improvement program " was primitively created and published by Offshore Technology, a GlobalData owned brand.