Cooperation Petroleum (Copetrole) sold a total of 6.5 million tons of petroleum products in fiscal year (FY) 2019/20, Adel Ayad, the company’s Chairman, stated during the company’s general assembly.
Copetrole sold about 5.6 million tons of gasoline, diesel, and mazut through 1,165 stations. Ayad added that the company’s market share in main petroleum products amounted to 30%, while its share in oils and ship bunkering reached 18% and 56%, respectively. Tarek El Molla, the Minister of Petroleum and Mineral Resources, headed the meeting and noted that the ministry aims to provide fuel to the local market through several development projects.
The minister also called for utilizing existing fuel stations to allow for constructing natural gas auto supply services. Additionally, he called for completion of implementation of an automatic tank gauge (ATG) system and a global positioning system (GPS) in vehicles transporting petroleum products to move forward with the digital transformation plan, in addition to implementing an enterprise resource planning (ERP) management system.
El Molla also headed Misr Petroleum’s general assembly for FY 2019/20. Hussien Fathy, the company’s chairman, stated that the company has succeeded in exporting high-quality motor and industrial oils to Uganda and Rwanda. The company exported EGP 6 billion of jet fuel, ship bunkering, and oils, in addition to signing an EGP 80 million aircraft catering units deal with the German Ruhrpumpen.
Misr Petroleum also signed a contract with Petrojet to establish a jet fuel storage system at Badr warehouse and connecting it to Cairo International Airport valued at EGP 715 million. Fathy also indicated that the company began implementing the ERP system at a cost of EGP 98 million. The company has also begun subsidizing ship bunkering activity by purchasing two new double-hulled marine tankers, in addition to constructing an EGP 12 million jet fuel station in Port Said. He noted that two jet fuel stations will be established at the Sphinx International Airport and Capital International Airport.
The company currently has 1,504 fuel stations in Egypt, where 86 of them were developed during FY 2019/20 at a cost of EGP 40 million.