Egypt to inject $4 billion into oil refinery overhaul to cut fuel import bill
“The government has developed a strategy to increase the value added of existing oil refineries by implementing six projects requiring total investment of $4 billion to boost production capacity and reduce the fuel import bill,” Badawi said during a meeting with Ethiopis Tafara and Cheick‑Oumar Sylla.
The discussions, held with officials from the International Finance Corporation, focused on investment and financing opportunities in refining, petrochemicals, and mining, as well as ways to expand private-sector participation in Egypt’s downstream industries.
Egypt operates around 840,000 barrels per day (bpd) of nominal refining capacity across a dozen facilities, most run by the Egyptian General Petroleum Corporation (EGPC). The Mostorod Refinery and MIDOR Refinery are the largest, each processing about 160,000 bpd.
Aging infrastructure and maintenance gaps have limited output to roughly 600,000 bpd, forcing Egypt to import much of its fuel, according to the U.S. Department of Commerce.
The new projects aim to reverse that trend by modernizing equipment, improving yields of high-value products such as diesel and gasoline, and reducing production bottlenecks.