Petroleum minister approves FY2026/27 investment plans for Alexandria Petroleum, Amreya Petroleum
Updated 2/10/2026 12:25:00 PM
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi approved the investment budgets of Alexandria Petroleum Co (APC) and Amreya Petroleum Refining Company (APRC) for fiscal year (FY) 2026/2027, as per a statement.
Badawi underscored the central role of petroleum refining companies in meeting the local market’s needs for petroleum products, stressing the importance of continuously developing and improving the efficiency of refining units to maximize production capacities and enhance product quality.
He said these efforts contribute to boosting domestic production, reducing imports, and easing pressure on the state.
For APC, chairperson Reham Mohamed reviewed the company's investment plan valued at around EGP 10 billion, covering a range of replacement and modernization projects.
Among the most notable is the reactivation of a boiler, which saved approximately EGP 1.7 billion compared to purchasing a new unit.
She also highlighted several occupational safety, health, and environmental protection projects, including fire alarm and firefighting systems, emissions monitoring, and energy efficiency improvement initiatives.
Meanwhile, Mohamed Sobhy Amer, chairman of APRC, said the company is implementing several replacement and modernization projects, including upgrades to petroleum product storage tanks, modernization of control systems, and digital transformation initiatives.
Amer noted that one of the key ongoing projects is the naphtha upgrading and aromatics production complex, which aims to increase the production of benzene and gasoline.
He added that the company is also executing multiple energy conservation projects, including improving the energy efficiency of aromatics complex furnaces. This is expected to save 1,000 tons of flare gas annually, replacing and modernizing boilers to save about 450 tons of natural gas annually, and replacing damaged steam traps to cut carbon emissions by around 261 tons per year.
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