Egypt is seeking to import up to 4 million barrels of oil per month through Arab countries and European markets to meet growing domestic demand, as disruptions to Gulf crude supplies and soaring global prices pile pressure on the country's energy sector.
More than 3 million barrels of that monthly target will be secured through Arab countries connected to Egypt via the SUMED pipeline, with additional shipments to be received directly at Egyptian ports, according to a senior official at the Egyptian General Petroleum Corporation (EGPC) who spoke to Al Manassa on condition of anonymity.
Libya has been added to the list of countries Egypt is actively courting for supply contracts in the second quarter of this year. Libyan crude is expected to help plug a refinery feedstock gap that could account for as much as 20% of domestic market needs, the official said.
Negotiations are also underway with Greece and other countries following disruptions to crude shipments from Gulf states — disruptions tied to the ongoing US-Israeli war on Iran and mounting fears over the future of navigation through the Strait of Hormuz.
Brent crude crossed $110 per barrel last week after two Chinese vessels were blocked from transiting the strait, a development that has sent shock waves through global energy markets already on edge over Iran's threat to close the waterway entirely.
Egypt's domestic crude production currently stands at between 500,000 and 515,000 barrels per day, while its refineries require between 620,000 and 650,000 barrels daily to operate at current capacity, according to the official — a structural gap of over 100,000 barrels per day that must be covered by imports.
The total refining capacity across Egypt's facilities in Cairo, Mostorod, Suez, Alexandria, and Assiut stands at between 750,000 and 800,000 barrels per day, leaving significant headroom for expansion if feedstock supply can be secured. Locally produced petroleum products currently cover 70% of domestic market needs, with the remainder sourced from abroad.
EGPC is negotiating favorable payment terms and accelerated delivery schedules with supplier countries to boost throughput at both public and private refineries, targeting an annual capacity increase of up to 10% through 2028.
A record import bill
Egypt's petroleum import bill reached a record $21 billion in fiscal year 2024–2025, driven by surging purchases of crude oil, refined products including gasoline, diesel and fuel oil, and liquefied natural gas — up sharply from $7.6 billion the previous year.
The war in Iran has added further strain, tightening global supply and pushing prices higher at a moment when Egypt can least afford it.
Cairo is betting on domestic refinery expansion to reduce its import dependency over the medium term. Two flagship projects are central to this strategy: an expansion of the diesel and high-value products complex at Assiut's ANOPC refinery, and a new coking and diesel production unit at the Suez Petroleum Manufacturing Company.
Both projects are expected to come online in fiscal year 2026–2027 and are projected to meaningfully reduce Egypt's diesel import bill once operational, according to the official.
In the meantime, EGPC has coordinated with refineries across the country on a regional distribution plan for petroleum products calibrated to each governorate's consumption levels.
