Cairo Oil Refining Company’s (CORC) Chairman’s Assistant Youssef Tohamy reviewed the most important performance indicators during fiscal year (FY) 2021/22, stating that the amount of crude oil that was refined reached around 8.9 million tons of crude oil in the company’s refineries in Mostorod and Tanta.
This came during the general assemblies chaired by Minister of Petroleum and Mineral Resources Tarek El Molla to review the 2021/22 performance of CORC, Suez Oil Processing Company (SOPC), and Nasr Petroleum Company (NPC).
CORC’s refineries produced quantities of petroleum products amounting to about 88,000 tons of butane, 935,000 tons of naphtha, 3.4 million tons of all types of benzene, 51,000 tons of kerosene, 456,000 tons of jet fuel, 1.862 million tons of diesel, in addition to many specialized products for many industries.
The company implemented investment projects during the year with investments reaching around EGP 650 million, and one of the most important projects that were implemented and operated during the year is the project to recover flare gases at a total cost of about EGP 150 million in order to reduce the emissions of associated gases and reuse the flare gases as fuel and produce butane, Tohamy noted.
Meanwhile, Hisham Fathy, SOPC’s Chairman, reviewed the most important performance indicators during the fiscal year 2021/22, as the company’s refinery production increased to about 2.6 million tons during the year, compared to about 2.1 million tons during the previous fiscal year, to contribute to providing some of the local market needs of various petroleum products.
SOPC has exported quantities of petroleum products, including vacuum distillates and light lubricants to secure foreign currency, in addition to the delivery of low-sulfur diesel to the NPC for export, Fathy pointed out.
The company’s investment plan included pumping investments worth EGP 5.8 billion. Fathy reviewed the plan’s projects, which included new production expansions to establish a coking complex, diesel production and an asphalt production plant.
For his part, Mohamed Abdullah, NPC’s Chairman, explained that it contributes to providing part of the local market’s needs of petroleum products through 14 production units at the refinery, and has also exported quantities of petroleum products with an increase of 22% over the previous year to save foreign exchange.
Abdullah stated that NPC’s investment plan during the year included pumping EGP 2.2 billion of new investments into a number of projects, which include the establishment of a condensate distillation project with a capacity of 1.2 million tons annually, in addition to industrial security and environmental protection projects through the development of firefighting and early warning systems and the establishment of an industrial wastewater treatment project to achieve environmental sustainability.