Egypt's Petroleum Minister Outlines Ambitious Five-Year Expansion Plan for Coop Petroleum

Minister of Petroleum and Mineral Resources Karim Badawi highlighted the significant advantages of Coop Petroleum, noting its extensive accumulated expertise and robust technical and operational capabilities. These strengths position the company to enhance its competitiveness and expand into international markets—particularly in the lubricant and chemical industries—unlocking promising opportunities to boost exports and enter new regional markets.

Badawi made these announcements during the General Assembly meeting of Coop Petroleum, convened to review and approve the company’s performance results for the 2025/2026 fiscal year. The gathering was attended via videoconference by Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Manal Awad, Minister of Local Development and Environment. Also present were several senior officials from the Ministry of Petroleum and Mineral Resources, the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), the Central Auditing Organization, and Abbas Saber, President of the General Union of Petroleum Workers.

During the meeting, the Minister instructed the company's management to draft an ambitious five-year business plan aimed at driving higher growth rates, broadening its range of products and services, and scaling operations from the domestic market into neighboring territories. This strategic roadmap is designed to sharpen the firm's competitive edge, optimize operational efficiency, and secure sustainable financial returns and long-term expansion.

Badawi emphasized the necessity of continually elevating product and service quality while leveraging the organization's existing capabilities to maximize returns. He also underscored strict adherence to rigorous occupational health and safety standards to maintain consumer trust and reinforce market leadership.

In his presentation, Coop Petroleum Chairman Mostafa al-Sayed detailed the company's strong performance from July 2025 through June 2026, reporting record growth across multiple sectors that culminated in a 43 percent year-on-year increase in net profit. Al-Sayed noted that the company successfully advanced its sales and market share initiatives, pushing lubricant exports to roughly 1,324 tons—a 30 percent rise—while capturing a market share of approximately 16 percent.

The chairman also pointed to an extraordinary surge in the company’s marine bunkering operations. Marine fuel volumes jumped to approximately 107,000 tons compared to 17,500 tons the previous year, marking a 610 percent increase, alongside 65,000 tons supplied domestically. Combined marine bunker fuel sales and cargo shipping service revenues climbed to about $80 million from $16.5 million, representing a 485 percent growth rate and highlighting a major boost to the company's foreign-currency earnings.

Furthermore, marine lubricant sales reached approximately 1,500 tons valued at $3.7 million, reflecting a 30 percent increase over the corresponding period last year. Al-Sayed affirmed that management remains committed to further developing these business lines and capturing targeted international markets.