Egypt is Africa’s second largest oil refining country and holds 23% of the continent’s total, domestically produced, crude oil. Egypt’s market is comprised of nine refineries—all operated by Egyptian General Petroleum Corporation (EGPC) with the exception of the privately owned, MIDOR Refinery in Alexandria. The Wall Street Journal reported in 2013 that, “Egypt will spend $18 billion over coming years to build new refineries and modify existing plants in a move to increase its annual fuel output.” Most of the refineries are located in Cairo, Alexandria, or Suez.