In a press release to Egypt Oil&Gas, Egyptian Minister of Petroleum, Tarek El Molla, emphasized the importance of improving oil and gas companies in order to increase their productivity to cover local demand of petroleum derivatives specially butane, diesel and benzine. The minister added that the country is following a strategy to provide petroleum derivatives through new projects that aim to expand transportation networks, increase receiving capacity of ports, and the construction of a new pipeline between Wadi Feiran and Assiut.
El Molla’s comments came during the General Assemblies of Petrogas, Cairo Oil Refining Company (CORC) and Assiut Oil Refining Company (ASORC), to review their fiscal results for 2015/2016.
During the assembly Petrogas’ CEO, Adel El Shoaeikh, explained that the company provided the market with around 4.4m tons of butane due to an expansion of it’s transportation fleet with 20 additional trailers and 10 vehicles, each with a transportation capacity of 900 butane gas tanks. The company’s storage capacity has reached 134,800t of butane, in addition to 11 new silo in various stages of development to cover Upper Egypt, Sohag, and Wadi El Qamar.
CORC’s CEO, Mohamed Hashiesh, said that the company refined 4.9m tons of crude oil and produced 69,000 tons of butane, about 3.4m tons of petrol, 2.3m tons of mazut, 971,000 tons of diesel, and 329,000 tons of jet fuel, with total investments worth EGP 77.6m.
Lastly, ASORC’s CEO, Nagi Abd El Ghaffar, stated that his company refined 3.9m tons of crude oil that helped in covering local demand by producing 1.1m tons of diesel during the year, in addition to 2.1m tons of mazut to supply power stations with fuel.