The Al-Hamra petroleum port has commenced crude oil storage and trading for third parties as part of a strategy to transform the facility into a regional logistics hub, Egypt’s Petroleum Minister Karim Badawi said on Wednesday. This includes a target of 31m barrels of crude via marine facilities as the port expands its capacity to receive and store international shipments for third parties. Expansion projects currently underway aim to increase the port’s total crude storage capacity to 5.3m barrels from the current 2.8m barrels. Badr Petroleum reported an average production of 6,500 barrels of oil equivalent per day during the first half of the current fiscal year. It also includes expanding drilling in unconventional reservoirs in partnership with Tag Oil and applying modern technologies to increase output.

Source: Daily News Egypt February 25, 2026 14:44 UTC