Alaa Amin, the Chairman of Alexandria Petroleum Company (APC), has stated that his company has refined 4.8 million tons of crude oil during the fiscal year (FY) 2022/23 which helped in providing petroleum products worth more than EGP 85 billion.

This came during the general assembly of a host of different national petroleum companies chaired by the Minister of Petroleum and Mineral Resources Tarek El Molla to approve their annual operational results.

The chairman explained that these products included diesel, mazut, butane, and naphtha needed for producing octane, asphalt, jet fuel, mineral oil, wax and wax distillates to meet part of the local demands of these products in addition to providing the products needed for industrial complexes in Alexandria.

He added the company supplied the national projects for roads with more than 660,000 tons of asphalt and it produced more than 20,000 tons of petroleum solvents. Amin said that APC pumped EGP 767 million to renew and replace the production units, upgrade industrial security, safety, and environmental protection systems, digital transformation systems, and improve energy efficiency.

He noted that the project of developing and rehabilitation the petroleum basin at Alexandria port is one of the most important projects implemented in the region, with funds of up to EGP 371 million since its inception.

For his part, El Molla lauded the company’s accomplishments in developing and modernizing its production units, devices and technology, improving safety aspects, as well as preparing and qualifying human cadres to keep pace with operational development and new technology.

He also praised the growing role of the company in developing the Petroleum Geographical Zone operation in Alexandria under its supervision as well as its contribution to the great development witnessed by the Petroleum Basin in Alexandria Port.