Minister of Petroleum and Mineral Resources Karim Badawi said the listing of three leading state-owned petroleum companies on the Egyptian Exchange (EGX) marks a historic step in the sector's development and reflects the State's strategy to maximize the value of its assets, enhance private sector participation and attract more local and foreign investments.
Speaking during a bell-ringing ceremony marking the start of trading on Sunday, June 28, 2026, Badawi said that the listing of the Engineering for the Petroleum and Process Industries (ENPPI), Petroleum Marine Services (PMS) and the Egyptian Linear Alkyl Benzene Company (ELAB) on the Egyptian Exchange (EGX) forms part of an integrated vision aimed at enabling national companies to benefit from capital market instruments and strengthen their capacity to expand locally, regionally and internationally.
The Minister said that the move represents the first phase of a broader program to list and offer petroleum sector companies on the Egyptian Exchange. He pointed out that this will help broaden ownership, increase private sector participation and maximize the economic value of state assets.
He added that listing companies on the stock exchange is not only aimed at securing financing, but also at promoting the highest standards of governance, disclosure and transparency, improving management efficiency and enhancing decision-making, thereby strengthening investor confidence in petroleum sector companies.
Badawi stated that the listing will provide petroleum companies with greater access to financing needed to implement expansion plans, while opening the door to new investment partnerships and enhancing their competitiveness in domestic, regional and global markets.
The Minister said that the three companies were selected because of their extensive expertise and pivotal roles within the sector. ENPPI is one of the largest engineering consultancies in energy projects, PMS is a leading company in marine services and offshore projects, while ELAB plays a key role in the petrochemicals industry and in maximizing value-added from raw materials.
Badawi said that the government's initial public offering (IPO) program is one of the main pillars supporting the national economy and strengthening the role of the Egyptian Exchange in providing financing and attracting investments, stressing that the petroleum sector has strong companies capable of achieving high growth rates and capitalizing on investment opportunities offered by the capital market.
The Egyptian Exchange has granted temporary listings to four companies, including ENPPI, ELAB and PMS from the petroleum sector, in addition to Al-Maamoura for Reconstruction and Tourism Development, as part of the government's IPO program to expand the base of listed companies on the Egyptian bourse.