Minister of Petroleum and Mineral Resources Karim Badawi said Coop Petroleum has significant advantages, including extensive accumulated expertise and strong technical and operational capabilities, enabling it to enhance its competitiveness and expand into international markets, particularly in lubricants and chemical industries, which offer promising opportunities to boost exports and enter new markets in neighboring countries.
Badawi made the remarks during a meeting of the General Assembly of Coop Petroleum to approve the company’s results for the 2025/2026 fiscal year.
The meeting was attended by Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Manal Awad, Minister of Local Development and Environment, via videoconference, along with a number of 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.
The Minister directed the company’s management to prepare an ambitious five-year business plan for the coming five years, targeting higher growth rates, expansion in the provision of services and products, and a shift from the domestic market toward neighboring markets. The plan is aimed at strengthening the company’s competitiveness, improving operational efficiency, and supporting its ability to generate sustainable returns and growth.
Badawi stressed the importance of continuing to enhance the quality of products and services and leveraging the company’s accumulated capabilities and expertise to develop its activities and maximize their returns. He also underscored the need to adhere to the highest occupational health and safety standards and maintain the quality of products and services provided to consumers, thereby strengthening customer confidence and the company’s competitiveness.
For his part, Coop Petroleum Chairman Mostafa al-Sayed reviewed the company’s performance from July 2025 through June 2026, noting that it achieved record growth rates across several activities, resulting in a 43 percent increase in net profit compared with the previous year.
al-Sayed said the company continued to implement an ambitious program to boost sales and increase its market share. Exports of lubricants rose to around 1,324 tons, up 30 percent from the previous year, while the company’s market share reached approximately 16 percent.
He also highlighted a significant surge in the company’s marine bunkering business, with marine fuel volumes rising to approximately 107,000 tons, compared with 17,500 tons the previous year, representing a 610 percent increase. Domestic bunker supplies, meanwhile, reached around 65,000 tons.
He added that sales of marine bunker fuel, together with revenues generated from services provided to cargo shipments, increased to approximately $80 million, compared with $16.5 million during the corresponding period, representing growth of 485 percent. This reflects the substantial development of the activity and its ability to maximize the company’s foreign-currency earnings.
The company’s chairman noted that marine lubricant sales reached approximately 1,500 tons, valued at $3.7 million, marking a 30 percent increase compared with the corresponding period of the previous year. He affirmed that efforts would continue to develop the activity and expand into targeted markets.
Petroleum Minister: Five-year plan to expand, drive growth, and enhance competitiveness of coop petroleum Egypt Independent.
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