Egypt to list petroleum companies on local exchange

Egypt has reportedly selected 10 petroleum companies for listing on the local stock exchange in the third quarter of this year.

Among those shortlisted are the General Petroleum Company, Engineering for the Petroleum and Process Industries (Enppi), Petroleum Projects and Technical Consultations Company (Petrojet), San Misr, Alexandria Petroleum Maintenance Company (Petromaint), Petroleum Marine Services Company and Egyptian Drilling Company.

Stakes for the initial public offerings are expected to range from 10 to 20 percent, Asharq Business reported, citing three unidentified government officials.

The selection process is underway to identify three further companies for listing from among Cairo Oil Refining Company, the Amreya Petroleum Refining Company, Nasr Petroleum Company and Suez Oil Processing Company.

A final decision is expected before the end of the week, the report said.

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Cairo established the State-Owned Enterprises Unit in late 2025, as part of efforts to restructure state ownership. 

Hashem El-Sayed, assistant to the prime minister and CEO of the State-Owned Enterprises Unit, said Cairo plans to transfer up to 40 state-owned companies listed on the Egyptian Stock Exchange to the Sovereign Fund of Egypt’s portfolio before the end of April. 

Finance minister Ahmed Kouchouk told US investors in October that Egypt intends to use funds from the sale of public enterprises to reduce the ratio of national debt to GDP to 75 percent in the next three years.