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Egypt plans $4.5bn refinery investment to cut petroleum imports
The plan also includes taking natural gas from Cyprus and re-exporting it to global markets, while noting the petroleum sector returned to growth in the third quarter of 2025/2026.
Egypt is outlining a 2026/2027 development strategy aimed at increasing oil and gas production, attracting new investment, and reducing reliance on imported petroleum, according to Offshore Technology.
Officials from the planning and petroleum ministries said the government intends to invest $4.5 billion in refinery development to raise domestic output and cut import needs, and that the effort is designed to support energy security amid ongoing regional and global geopolitical uncertainty.
The plan also calls for receiving natural gas from Cyprus and re-exporting it to global markets, a move officials say would strengthen Egypt's role as a regional energy hub, with the sector benefiting from more stable conditions tied to regular payments to foreign petroleum partners.
Offshore Technology reports that the petroleum sector returned to growth in the third quarter of the 2025/2026 fiscal year, including a 0.7% increase in June 2026, supported by higher production of crude oil, condensates, and liquefied petroleum gas.
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