Alexandria Petroleum Company Invests EGP 33.9B in 2016/2017

Alexandria Petroleum Company Invests EGP 33.9B in 2016/2017
View of the structures used to precess oil at Mexican state-owned petroleum company PEMEX refinery in Tula, Hidalgo state, Mexico on March 8, 2011. AFP PHOTO/OMAR TORRES (Photo credit should read OMAR TORRES/AFP/Getty Images)

Alexandria Petroleum Company announced its latest investment figures, which amount to EGP 33.9 billion, Egypt Oil & Gas reports.

Investments were for the production of 85,000 tons of butane, 1 million tons of naphtha, 383,000 tons of jet fuel, and 1.3 million tons of mazut, as well as its production of oils, asphalt, waxes and solvents, the Head of Alexandria Petroleum Company, Medhat Bahgat, stated.

The figures were announced during a review meeting for fiscal year (FY) 2016/2017 during a meeting with the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla.

Furthermore, the company announced its production figures which include: 4.5 million tons of refined crude oil, providing diesel, butane, mazut, naphtha, asphalt, waxes, and high quality oils to the local economy.

It also executed a project to develop the petroleum zone in Alexandria.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password