Minister of Petroleum and Mineral Resources Tarek El Molla has emphasized that the development of the Suez and Nasr refineries reflected on their remarkable performance.

He highlighted this is especially after improving and replacing the productive units, in addition to updating the occupational safety and health system.

He added that after their upgrade, the old refineries have become new productive units with high levels of efficiency which enables them to increase their production capacity of high value petroleum products needed in the local market.

This came during the general assembly meeting of the Suez Oil Processing Company (SOPC) and Nasr Petroleum Company to approve their planned budget for the fiscal year (FY) 2024/25.

During the meeting, El Molla stated that the two refineries are currently witnessing the establishment of several new projects to modernize and increase production.

He elaborated that the development of the refineries comes at the right time to boost their economic and productive role.

Additionally, the Minister announced the start of trial operations a few days ago for the new condensate distillation project, one of the modernization projects that will raise the production capacity of petroleum products of high economic value at Al Nasr Petroleum Refinery. He added that the refinery is also implementing a gas recovery project to produce butane VRU, which is one of the projects planned to be completed within current year.

Emphasizing the success of efforts to raise the local content in refinery development projects, El Molla lauded Petrojet, Enppi, and their engineering units for maximizing foreign currency cost savings. Highlighting achievements like Petrojet’s domestic production of refinery components like salt separators and heat exchangers further underscored the effectiveness of this strategy.

Moreover, El Molla indicated that the petroleum sector has achieved good results in supporting the environmental compatibility of oil refining companies in Suez, in coordination with the Ministry of Environment, by treating industrial waste, pointing to the success of local manufacturing of modern systems for treating industrial waste in Suez refining companies.