MIDOR refined 36.5 million barrels of oil (mmbbl) in 2020, and produced 4,600 tons of high quality petroleum products, 86% of which is directed to local market, a press release reported.
The announcement came during the meeting of MIDOR general assembly, chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, via video conference to approve achievements of MIDOR in 2020.
During the virtual meeting, El Molla stated that the new expansion project in MIDOR refinery represents a great leap in the refining system and will sustain the petroleum products market, disclosing the target of increasing the productivity of the refinery by 60% to be put on production in Q1 2022, with $2.3 billion of investments.
Meanwhile, Gamal El Kareish, MIDOR’s Chairman, mentioned that the company maximized the production of diesel and gasoline with an increase of 30% and 22% compared to 2019, which resulted in an increase of MIDOR refinery contribution in the local market with 19% for the diesel product, and 17% for the gasoline product.
El Kareish also added that the company has completed the rehabilitation of 80% of refinery original units, reaching 100% of safe operation as one of the conditions for increasing the production capacity.
As for the ongoing expansion projects being carried out by the ministry, El Molla underlined the necessity to adhere to the set time schedule while emphasizing the significant role of ENPPI and Petrojet in the project’s implementation to achieve self-sufficiency in petroleum products by 2023.
El Molla also emphasized the necessity to abide by COVID-19 precautionary measures to protect people and their families.