MIDOR Raises Refining Capacity by 15%

MIDOR Raises Refining Capacity by 15%

Middle East Oil Refinery (MIDOR) has raised its daily refining capacity by 15% to 115k b/d in January, 2017. The increase is attributed to the $20m first phase of the company’s expansion plan. The second phase begins in the second half of 2017 and lasts for 36 months to raise the daily capacity to 160k b/d, Reuters reported.

Furthermore, The Egyptian General Petroleum Corporation (EGPC) is studying refining Iraqi crude oil that will be imported from Basra in February and March. MIDOR’s refinery lab is to be used for imported Iraqi oil due to its high production capacity compared to ither refineries, Al Mal News informed.

The Egyptian General Petroleum Corporation (EGPC) owns about 98% of MIDOR, while Suez Canal bank owns the remaining 2% . MIDOR secures 25% of Egyptian petroleum consumption.  The company started working in Egypt in 1994 and became the first oil refinery company in Egypt and Africa in terms of technological capabilities.

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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