Minister of Petroleum and Mineral Resources Karim Badawi asserted on Sunday, August 23, 2026, that the development and modernization of Nasr Petroleum Company and Suez Petroleum Manufacturing Company in Suez governorate are among the ministry’s top priorities, as part of its strategy to improve the efficiency of refineries and increase their operating capacities, thereby maximizing the value obtained from every barrel of crude oil and increasing added value.
This came during meetings of the two companies’ general assemblies, held via videoconference, in the presence of Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Local Development and Environment Manal Awad, Minister of Investment and Foreign Trade Mohamed Farid and Minister of Industry Khaled Hashem along with senior officials from the ministry and the Egyptian General Petroleum Corporation, a senior representative of the Central Auditing Organization and the head of the General Trade Union of Petroleum Workers.
The minister confirmed that the quantities of crude oil supplied to the two companies would be increased in the coming period to support operating and production rates and ensure optimal use of available capacities. He also stressed the need to accelerate completion of the coking complex project at Suez Petroleum Manufacturing Company, given its importance in converting low-value products into higher-value products, increasing production and reducing imports.
The minister directed the companies to fully adhere to the highest safety standards, strengthen emergency preparedness, and exchange expertise and best practices in this field among petroleum-sector companies. For his part, Chairman of Nasr Petroleum Company Rashad Nazim reviewed the company’s key results for fiscal year 2025/2026.
He said the company refined 1.5 million tons of crude, meeting its target, while improving the efficiency of its processing units and the mix of petroleum products. He noted that gasoline production increased from 151,000 tons to 637,000 tons during the latest fiscal year compared with the previous year, while diesel production rose from 234,000 tons to 329,000 tons over the same period.
He explained that the company is implementing projects to develop its seawater desalination unit and asphalt handling facilities, as well as upgrading early-warning and automatic firefighting systems, implementing process-safety and asset-integrity programs and improving the efficiency of furnaces and boilers.
Meanwhile, Chairman of Suez Petroleum Manufacturing Company Mohamed Shehata el Baz said the company refined nearly 1.4 million tons of crude during the year to provide fuel oil, asphalt, LPG, diesel and gasoline. This included supplying marine bunker fuel in the form of diesel and fuel oil.
The company also contributed to providing quantities of feedstock for production at AMOC and Alexandria Specialty Petroleum (ASP), thereby maximizing the added value of petroleum products. He pointed out that the final quarter of the concluded fiscal year witnessed a significant increase in the actual quantities of crude refined compared with the target.
He confirmed that the past year saw support for the safe operation of production units, enhanced process safety and improved refining costs. A package of energy-efficiency and conservation projects was also implemented, generating savings of more than $275,000 during the fiscal year.
He further reviewed the activities of the company’s laboratories in verifying the quality and specifications of crude oil and petroleum products for the company and third parties, representing more than 7% of the petroleum sector’s activity in this field.