Arab Finance: Nasr Petroleum Company (NPC) and Suez Oil Processing Company (SOPC) refined a combined 2.9 million tons of crude oil in fiscal year (FY) 2025/2026, as the Ministry of Petroleum and Mineral Resources moves to increase refinery operating rates and petroleum product output, as per a statement.

NPC processed approximately 1.5 million tons of crude oil during the year, meeting its target, while SOPC refined around 1.4 million tons to produce fuel oil, asphalt, butane, diesel, and gasoline.

Minister of Petroleum Karim Badawi said upgrading the two Suez-based refineries and expanding their operational capacity are priorities within the ministry’s strategy to maximize the value generated from every barrel of crude oil.

Badawi noted that additional quantities of crude oil would be allocated to both companies in the coming period to support their operating and production rates and improve the use of available resources.

He also called for accelerating the completion of SOPC’s coking and diesel production complex, which is designed to convert lower-value products into higher-value alternatives, increase domestic production, and reduce imports.

During the two companies’ general assemblies, Badawi directed them to maintain the highest safety standards, strengthen emergency preparedness, and exchange expertise and best practices with other petroleum sector companies.

Meanwhile, NPC Chairman Rashad Nazim said the company improved the operating efficiency of its production units and optimized its petroleum product mix during FY2025/2026. The company’s gasoline production rose to approximately 637,000 tons from 151,000 tons in the previous FY, while diesel output increased to around 329,000 tons from 234,000 tons.

NPC is developing its seawater desalination unit and asphalt handling facilities while upgrading its early-warning and automatic fire suppression systems. It is also implementing process safety and asset integrity programs and improving the efficiency of its furnaces and boilers.

The company’s energy-efficiency projects generated annual natural gas savings of $355,000 and reduced carbon dioxide emissions by approximately 4,268 tons. Its 1.2-megawatt solar power plant has also entered the trial commissioning phase.

For his part, SOPC Chairman Mohamed Shehata El-Baz said the company’s FY2025/2026 output included fuel oil and diesel supplied to ships. SOPC also provided feedstock to Alexandria Mineral Oils Company (AMOC) and Alexandria Petroleum Company (APC), supporting further processing into higher-value petroleum products.

The company recorded a marked increase in actual crude oil refining volumes during the final quarter of the fiscal year compared with its target.

SOPC also supported the safe operation of its production units, strengthened process safety, and reduced refining costs. Its energy-efficiency and conservation projects generated savings of more than $275,000 during the year.

El-Baz reviewed progress on the coking and diesel production complex, which is intended to provide higher-quality petroleum products and reduce the import bill.

He also highlighted the company’s laboratory operations, which test the quality and specifications of crude oil and petroleum products for SOPC and other companies and account for more than 7% of the petroleum sector’s activity in this field.