Egypt’s Badr Petroleum beats output target, El Hamra Port expands

Egypt’s Badr Petroleum Company produced 143 per cent of its 2024/2025 output target, averaging 6,440 barrels of oil equivalent per day, the petroleum ministry said on Monday.

The results were announced during the general assemblies of Badr Petroleum and Western Desert Petroleum Company (WEPCO), chaired by Petroleum Minister Karim Badawy. Badr Petroleum said two exploratory and two development wells added around 10 million barrels of confirmed reserves.

Separately, WEPCO said El Hamra Oil Port handled 74 million barrels of crude and that ongoing northern and southern expansion projects will raise storage capacity to 130,000 tons to serve Alamein and Egypt’s northwestern coast.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser