El Molla Heads AMOC’s General Assembly

El Molla Heads AMOC’s General Assembly

A press release to Egypt Oil&Gas stated that the Minister of Petroleum and Mineral Resources, Tarek El Molla, headed the extraordinary general meeting of Alexandria Mineral Oils Company (AMOC) as part of his  inspection tours to track the refining projects’ workflow in Alexandria in the presence of the First Undersecretary of the Ministry for Petroleum, Eng. Mohamed Taher, CEO of the Egyptian General Petroleum Corporation (EGPC ),  Eng. Tarek El Hadidi, representatives of the Central Auditing Organization and AMOC’s shareholders.

During the assembly, AMOC’s CEO, Amr Mostafa, presented the work schedule, which included issuing international certificates of deposit on the proportion of AMOC ‘s  stock shares within the legal limits . This makes AMOC  the first Egyptian company to follow these regulations. In turn, the company is to be affiliated to the golbal private stock markets.

In addition, the assembly approved fragmenting the nominal value per share, to EGP 1 instead of  EGP 10. This comes in addition to approving further complementary activities, including refining crude for its own account or for the account of others, and producing diesel and gasoline.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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