Arab News | Egypt’s petroleum and mining exports jump 73% in H1

RIYADH: Egypt’s petroleum and mining exports jumped 73 percent year on year to $5.29 billion in the first half of 2026, the country’s petroleum minister revealed.

Karim Badawy explained that petrochemical exports increased to 2.7 million tonnes, valued at $1.8 billion, from 2.5 million tonnes, valued at $1.6 billion, with new projects focusing on green production and value-added products, including sustainable aviation fuel, silicon derivatives, and sodium bicarbonate, as well as bioethanol, according to a statement.

Egypt’s petroleum sector is targeting a 20 percent increase in exploration and production activities in 2026 as part of its five-year plan to restore output growth. The plan also calls for accelerated well drilling and expanded use of modern production technologies, according to the Ministry of Petroleum and Mineral Resources.

The ministry also announced a 2026 international bid round covering 14 oil and gas exploration blocks, aimed at attracting investment needed to increase domestic production. It recently said that 149 exploratory wells drilled over the past two years resulted in 112 new discoveries, while 13 new agreements are being prepared with investments exceeding $1 billion.

The newly released statement said: “In the petrochemicals sector, production increased from 4.2 million tonnes in the 2024/2025 fiscal year to 4.6 million tonnes in 2025/2026.”

Mining sector targets new investment

In the mining sector, the minister said transforming the Mineral Resources Authority into an economic entity, to be renamed the Mineral Resources and Mining Industries Authority, would help facilitate investment and attract investors.

He highlighted exploration opportunities for gold, phosphate and other minerals through an open-sector mining model, with an emphasis on processing phosphates to add value before export, noting that Egypt holds the world’s third-largest phosphate reserves.

Badawy said the Egypt Mining Forum, scheduled for Sept. 28, is expected to draw broad participation from investors.

He also said natural gas would be supplied to 804,000 homes during the 2025/2026 fiscal year, replacing 14 million butane cylinders.

Egypt moves to restore production

The minister said that Egypt’s petroleum sector is moving rapidly to restore production levels and return to a growth trajectory, following challenges that led to a decline in production over the past years.

He explained that the decline in oil and gas production from mid-2021 to mid-2024 was a result of the slowdown in investments due to the accumulation of outstanding payments owed to production partners. He noted the government’s success in settling all these dues, which led to the restoration of the investment climate.