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.