Amreya Petroleum Refining Company’s (APRC) Chairman Hossam Shawky reviewed the most important results of the work that was done during fiscal year (FY) 2021/22.
Shawky explained that quantities estimated at more than 3.6 million tons of crude oil were refined, and the refinery production of butane reached 84,000 tons, about one million tons of mazut, 424,000 tons of 80-octane benzene, around one million tons of diesel, 144,000 tons of kerosene, and 65,000 tons of essential and special oils and paraffin wax.
This came during the general assemblies chaired by Minister of Petroleum and Mineral Resources Tarek El Molla to review the results of APRC, Alexandria Petroleum Company (APC), and the Egyptian Petrochemicals Holding Company (ECHEM) in FY 2021/22.
APRC further produced 47,000 tons of alkyl benzene, 21,000 tons of raw wax for export, 56,000 tons of special petroleum products, in addition to quantities of toluene and medicinal oil, bringing the realized revenues to about EGP 3.5 billion, and the investments implemented during the year amounted to about EGP 450 million.
Meanwhile, Mohamed Sobhy, APC’s Chairman explained that the quantities of crude that were refined during the year through the company’s plant amounted to about 5.3 million tons, contributing to the provision of petroleum products worth around EGP 79.7 billion, which contributed to providing part of the local market’s needs of butane, naphtha, diesel, diesel, jet fuel and asphalt, wax distillates and petroleum solvents, with a value of about EGP 48 billion.
Investments of EGP 1.2 billion have been pumped to implement replacement and renewal projects for production units, asset and resource management, security and safety systems development, and energy efficiency improvement, in addition to its contribution to development and modernization projects in the petroleum geographical area in Alexandria, which witnessed expenditures of EGP 352.6 million so far, Sobhy noted.
For his part, Ahmed Kamel, ECHEM’s Chairman, highlighted the successful implementation of the replacement and renewal programs and the comprehensive development of the company’s units and return to operation in the fourth quarter of the last fiscal year, and that studies are underway to start the second phase to raise the production capacity of the PVC factory from 120,000 tons to 240,000 tons annually, with investments of about $350 million. Production rates amounted to 25,000 tons of polyvinyl chloride, 29,000 tons of liquid caustic soda, and 5.4 thousand tons of hydrochloric acid. The sales value reached around EGP 1.9 billion.
El Molla indicated that the development of the petroleum refining system and the petrochemical industry began in 2016 through the overall vision of the modernization and development program that was launched in conjunction with the implementation of the economic reform program in Egypt. Hence, this has achieved distinct results, which began to be evident in the results of the companies’ business year after year.