Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, approved the investment budgets of the Al-Taawon Petroleum Company and Assiut Oil Refining Company for the fiscal year 2026/2027, in the presence of Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Dr. Manal Awad, Minister of Local Development and Environment, via video conference, along with leaders of the petroleum sector.
The Minister stressed that Al-Taawoun Petroleum Company has great experience in transporting and marketing petroleum products, in addition to significantly expanding its activity in the field of fueling ships, which requires studying the optimization of the petroleum tankers that the company owns, which contributes to increasing its competitiveness in this vital activity.
The Minister praised the development in the company’s production of value-added synthetic oils, and the resulting opening of new markets for its products in a number of Arab and African countries, stressing the necessity of conducting in-depth studies of foreign markets to support expansion plans and entering new markets.
He stressed the importance of adhering to applying the highest standards of occupational safety and health in transporting petroleum products, and raising the level of awareness among Al-Taawoun drivers and transportation contractors, in order to preserve public safety, taking into account the privacy of the fasting period and road traffic during the holy month of Ramadan.
During the General Assembly of the Assiut Petroleum Refining Company, the Minister stressed the importance of continuous monitoring of the quality of petroleum products produced by Egyptian refineries, to ensure their compliance with standard specifications, as they represent vital daily needs for citizens, stressing that the ongoing expansion projects in the Assiut region represent an important addition that contributes to reducing the import bill for petroleum products.
For his part, accountant Mustafa Al-Sayed, President of Al-Taawoun Petroleum Company, reviewed the features of the company’s investment budget, which amounted to 1.2 billion pounds.
He explained that all of the company’s fuel stations across the country are equipped with the ATG monitoring system, and that the quantities of petroleum products sold recorded a remarkable development in 95 and 92 gasoline during the period from July to December 2025, in contrast to the decline in consumption of 80 gasoline. The company also recorded a remarkable growth in the volume of bunkering fuel sales by 205%, and the value of sales rose to $19.5 million compared to $9 million, achieving an increase of 217% over similar period.
The company’s president confirmed that Al-Taawoun Petroleum has expanded the production and marketing of products with high added value, especially synthetic oils, pointing to the opening of new export markets in a number of Arab and African countries.
For his part, Engineer Issa Allaq, President of the Assiut Petroleum Refining Company, reviewed the features of the investment budget for the fiscal year 2026/2027, which aims to refine 4.2 million tons of raw materials to maximize the production of various petroleum products, pointing out that the Assiut Refining Plant succeeded in covering 100% of Upper Egypt’s needs for gasoline of all types during the first half of the current fiscal year 2025/2026.
He explained that the budget includes completing projects that were started for replacement and renewal, supporting occupational safety and health systems and environmental protection, developing existing production units, and establishing new projects to increase production, including an air distillation unit and a gas recovery unit for butane production, in addition to modernizing infrastructure and storage capabilities, establishing a solar power station with a capacity of 10 megawatts, and developing digital control and automatic measurement systems.
He also reviewed the success stories achieved during the first half of the current fiscal year, including maintaining and raising the efficiency of the first distillation production unit in record time, and implementing an innovative plan for the first time in Egypt and North Africa to support the sustainability of the operation of the high-octane gasoline production complex, in addition to improving the efficiency of the cooling tower operation after maintenance work, which contributed to increasing the butane’s productivity, in addition to proactive efforts to raise awareness and train workers in the areas of safety, and continuous inspection and review of the system.
He pointed out that using hydrogen as an alternative to diesel as fuel for boilers and furnaces contributed to saving 2,700 tons of diesel, and carbon emissions were reduced despite the increase in the plant’s refining capacity during the first half of this year.
