Egypt is planning to increase oil and gas production, attract new investment, and reduce petroleum imports as part of its 2026/2027 economic and social development strategy. Badawy added: "The country also seeks to receive Cypriot gas and re-export it to global markets, strengthening its position as a regional energy hub. He reported that the petroleum sector saw growth return in the third quarter of the 2025/2026 fiscal year, with a 0.7% increase in June 2026. This marked the sector's first positive quarterly growth since the first quarter of 2023/2024, supported by higher output of crude oil, condensates, and liquefied petroleum gas. "Egypt targets higher oil and gas output in 2026/2027 development plan " was originally created and published by Offshore Technology, a GlobalData owned brand.