KEY POINTS
- Egypt’s petroleum and mining exports rose 73 percent to $5.29 billion in the first half of 2026, with petrochemical exports up to $1.8 billion.
- The country is targeting a 20 percent rise in exploration and production, launching a bid round for 14 blocks after 112 discoveries from 149 wells in two years.
- Egypt is restructuring its mining authority and touting gold and phosphate, holding the world’s third-largest phosphate reserves ahead of its Sept. 28 mining forum.
Egypt’s petroleum and mining exports jumped 73 percent year on year to 5.29 billion dollars in the first half of 2026, the petroleum minister said, as the country works to restore oil and gas output.
According to Minister Karim Badawy, petrochemical exports rose to 2.7 million tonnes worth 1.8 billion dollars, up from 2.5 million tonnes worth 1.6 billion dollars a year earlier. Moreover, new projects are targeting green production and value-added goods, including sustainable aviation fuel, silicon derivatives, sodium bicarbonate and bioethanol.
Drilling drive and new bid round
The sector is pushing hard to lift activity. Specifically, Egypt is targeting a 20 percent increase in exploration and production in 2026 as part of a five-year plan to restore output growth, backed by faster drilling and modern production technologies. Furthermore, the ministry launched a 2026 international bid round covering 14 oil and gas exploration blocks to attract fresh investment.
The early results look encouraging. According to the ministry, 149 exploratory wells drilled over the past two years yielded 112 new discoveries, while 13 new agreements worth more than 1 billion dollars are in preparation. Consequently, petrochemical production climbed from 4.2 million tonnes in fiscal 2024/2025 to 4.6 million tonnes in 2025/2026.
Mining reform and gas rollout
Meanwhile, the government is reshaping its mining framework. Specifically, Badawy said converting the Mineral Resources Authority into an economic entity, renamed the Mineral Resources and Mining Industries Authority, would ease investment and draw investors. Additionally, he flagged gold, phosphate and other opportunities under an open-sector model, urging value-added phosphate processing since Egypt holds the world’s third-largest reserves.
The minister also pointed to the Egypt Mining Forum on Sept. 28, which he expects to draw broad investor interest. Furthermore, he said natural gas would reach 804,000 homes in fiscal 2025/2026, replacing 14 million butane cylinders.
However, the rebound follows a slump. Badawy said output fell from mid-2021 to mid-2024 as arrears owed to production partners choked investment. Ultimately, he credited the settlement of those dues with reviving the investment climate and setting the sector back on a growth path.
