Egypt’s state-owned Ganoub El-Wadi Petroleum Holding Co. (Ganope)’s refinery in Assiut will fill 76% of oil needs in Upper Egypt governorates in the upcoming fiscal year, according to Chairman Abu Bakr Ibrahim.

Ganope is currently working on upgrading its refinery activities and distributing petroleum products to meet local needs in the Upper Egypt. Ibrahim notes the refinery’s plan to boost production and refining capacity in governorates.

Upon Ganope’s strategy, Nile Oil Company shall add new gas and car services stations to reach 75 stations by mid-2016. Ganope additionally has a plan to increase production rates through boosting oil and gas explorations by attracting more foreign investments and launching new bids to make use of concession areas that have not been explored within the past years.

Source: Amwal al Ghad