Egypt did not witness any shortages in petroleum products during the pandemic thanks to the plans and strategies of the Ministry of Petroleum and Mineral Resources (MoP), the Head of Energy and Environment Committee, Talaat El Sewedy, stated.
This came as the Energy and Environment Committee of Egypt’s House of Representatives praised the petroleum sector’s achievements, efforts, and success despite the implications of the coronavirus pandemic.
El Sewedy also appreciated the statements of the Minister of Petroleum and Mineral Resources, Tarek El Molla, that the pandemic tested the effectiveness of the petroleum sector’s reforms, which proved to be successful and sustainable.
Additionally, El Sewedy praised the achievements of signing 14 agreements with the international oil companies (IOCs) operating in Egypt including Chevron and ExxonMobil. Furthermore, he praised the inauguration of the two refinery projects in Mostorod and the high octane production project in Alexandria with $4.5 billion investments. He also stated that the petroleum sector will continue to implement three new refining projects in Assiut and Alexandria with $7.5 billion in investments to achieve self-sufficiency in gasoline and diesel by 2023.
Finally, El Sewedy expressed his gratitude for the efforts of the members of the committee in discussing the petroleum sector’s agreements and its support to the MoP.