Minister of Petroleum and Mineral Resources Tarek El Molla chaired the meeting via video conference technology, assembly to approve the results of the work of Assiut Oil Refining Company (ASORC) to review the 2022/23 performance.

El Molla highlighted the importance of the projects implemented by the petroleum sector’s modernization strategy since its launch in 2016, which increased the efficiency of petroleum geographic regions and their ability to meet the bulk of the local market’s needs for petroleum products to serve our people in all governorates.

During the assembly, El Molla highlighted the importance of the development witnessed by the petroleum geographic region in Assiut in creating a qualitative shift in the region, to be in line with achieving the goals of the Ministry’s vision in meeting the needs of our people and development and growth projects in Upper Egypt within the state system for its development,

ASORC’s Chairman Maged El Kurdi reviewed the most important results of its work during the fiscal year 2022/23, explaining the success of the refinery there in converting about 3.3 million tons of crude oil to petroleum products for the local market worth $3 billion.

The volume of investments pumped in amounted to more than EGP 1.7 billion to implement replacement and renovation programs and projects, enhance occupational safety and health requirements, protect the environment, and begin implementing new production units.