Seven new petrol stations to open in Upper Egypt in 2018

CAIRO – 17 March 2018: Seven new petrol stations to open in Upper Egypt in 2018, with LE 85 million investments, a statement from the Petroleum Ministry said Saturday.

Petroleum Minister Tarek el-Molla said that the petroleum sector is working on upgrading the services in the Upper Egyptian governorates, and expanding petroleum activities to meet the demands of residents and achieve the state’s development goals.

He said that marketing and distributing petroleum products in these governorates have significantly improved over the last period.

This came during a meeting chaired by Molla to approve the 2017 results of the Nile Petroleum company.

Head of the Nile Petroleum company, Amr el-Kaky, said that it distributed petroleum products in Upper Egypt through 69 gas stations, after the entry of seven new stations in 2017.

Egypt’s Petroleum Ministry is planning to boost its production of gasoline, diesel, butane gas and jet fuel through the implementation of a number of projects to develop and expand refineries, with LE 8.3 billion investments.

The projects would add 11.6 million tons of petroleum products in the coming four years. The ministry is working on developing refineries to boost domestic production of petroleum products, with the aim of filling the gap between production and consumption.

It plans to expand and develop plants at the Egyptian Refining Company, Alexandria National Refine & Petrochemical (ANRPC), Assiut Oil Refining Co. (ASORC), Alexandria’s Middle East Oil Refinery (MIDOR) and Suez Oil Processing Co.

As part of Egypt’s reform program, the government had slashed fuel subsidies three times since 2014. The last increase was in June 2017, when the government hiked fuel prices by up to 50 percent.