New refineries, projects being implemented with investments of $7B : Petroleum Min.

CAIRO – 11 January 2021: New refineries and projects are being implemented in Greater Cairo, Alexandria, Assiut and Suez, with investments of about $ 7 billion, Minister of Petroleum Tarek el-Mola stated Monday.

Molla said that refineries have an important role to play in meeting and securing the needs of the local market for petroleum products, and that the ministry's strategy puts in the list of its priorities to continue modernizing and developing refineries and using the latest technologies.

He directed to accelerate the completion of the implementation of a comprehensive digital transformation program for managing refineries to achieve the best operational efficiency.

This came during the minister's presidency of the first work of the general assemblies of public sector companies, which included oil refining companies "Cairo-Suez-Nasr-Assiut" via video conference technology in the presence of Mahmoud Sharawi, Minister of Local Development, to approve their planning budgets for the next fiscal year 2021/2022.

Molla pointed out that the new refining projects implemented by the petroleum sector as part of his plan to increase the security and sustainability of the provision of petroleum products to the local market have begun to bear fruit with the operation of a number of projects that included the Egyptian Refinery in Mostorod and the high-octane gasoline in ANRPC in Alexandria and trial operation of the high-octane gasoline production complex at the Assiut oil refinery is part of the Upper Egypt development projects.

The minister stressed the importance of commitment to implementing the work of existing projects according to the established plans and specific timelines, which would achieve the goals of the petroleum sector strategy to achieve self-sufficiency in gasoline and diesel in 2023.

He also stressed the importance of commitment to apply all precautionary measures applied to avoid the coronavirus, as well as absolute commitment to safety, occupational health and environmental compliance procedures, as well as intensifying continuous communication to increase awareness and safe handling to ensure the safety of workers and their families.