Minister of Petroleum and Mineral Resources Tarek El Molla chaired the Cairo Oil Refining Company’s (CORC) general assembly meeting via video conference to approve the planning budget for fiscal year (FY) 2022/23, according to the Ministry.

El Molla confirmed that the developments in the Mostorod Refinery not only enhance its operational efficiency, but also contribute to supporting the safety system and digital transformation strategy. He called for efforts to be invested in the development of the petroleum geographical region in Mostorod, which would be in line with the volume of developments and investments that are pumped into the region’s petroleum projects.

CORC’s head Hisham El-Bakl delivered a presentation on the highlights of the company’s investment budget during FY 2022/23, in addition to the targeted projects and work plans in its refineries in Mostorod and Tanta.

The meeting was attended by Minister of Local Development Mahmoud Shaarawi, First Undersecretary of the Ministry for Agreements and Exploration Ashraf Farag, Egyptian General Petroleum Corporation (EGPC) CEO Abed Ezz El-Regal and his deputies, Egyptian Natural Gas Holding Company (EGAS) CEO Magdy Galal, and Assistant Minister for Legal Affairs Hisham Lotfy among others.