El Molla Reviews the 2022 Business Performance of Cargas

El Molla Reviews the 2022 Business Performance of Cargas

Minister of Petroleum and Mineral Resources Tarek El Molla affirmed the ministry’s commitment to continue expanding the use of natural gas as an alternative fuel for cars.

El Molla highlighted that cars have been converted to operate on natural gas at remarkable rates. He added that there have been major achievements in building stations and conversion centers nationwide since the launch of the presidential initiative.

The minister’s words came during the General Assembly of Cargas to approve the business results for the year 2022. The meeting was held at the headquarters of the Egyptian Natural Gas Holding Company (EGAS).

During the meeting, Cargas Chairman Hassanein Mohamed Hassanein provided a detailed review of the company’s business performance in the year 2022.

Hassanein pointed out that sales have reached its highest point in the company’s history after ambitious efforts to expand automobile natural gas stations and conversion centers, which is in line with the ministry’s strategy.

Cargas has successfully converted 36,500 cars, an increase of 24% over the preceding year, to lead the conversion activity in the Egyptian market with 46% of the total converted cars during 2022. This included 4,650 cars that were converted on production lines in major auto factories within the presidential initiative to replace obsolete cars. This is in addition to 193 buses belonging to the Public Transport Authority in Cairo and Alexandria within the protocol signed between the Ministry of Petroleum and Mineral Resources and the Ministries of Local Development and Military Production. The company also provided after-sales services for 175,000 cars during the year.

Regarding the refueling of cars with natural gas, the year witnessed the continued expansion of new refueling stations, as Cargas operated 64 new stations for the public during the year 2022. This helped achieve sales of 419 million cubic meters of compressed natural gas for cars, an increase of 28% over the previous year. It’s an accomplishment that contributed to reducing carbon emissions by 231,000 tons. The cumulative sales of the company since its inception amounted to 4 billion cubic meters of compressed natural gas.

Cargas also achieved outstanding results when it comes to lubricants, working to provide high-quality products produced by bp. Sales of gas-fired car oils exceeded 2,760 tons, despite the unprecedented challenges during the period, with an increase of 12% over the previous year.

When it comes to digital transformation, Cargas began efforts to apply the enterprise resource management system (ERP) using SAP technology and the completion rate at the end of the period reached 70%. Currently, operating trials are underway.

The supervisory control system and data acquisition system (SCADA) was also implemented for the company’s stations. 75 stations have been incorporated into the system and work is underway with the remaining stations.

 

Sarah Samir 3401 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register