Mohamed Maged Bakheet, the Chairman of the Misr Petroleum Company, showcased the achievements of the company progressed during recently especially during the H1 of the fiscal year (FY) of 2024/25.
This came during the general assembly meeting of the company chaired by the Minister of Petroleum and Mineral Resources Karim Badawi to discuss the investment budget for the FY 2025/26.
At the beginning of the presentation, he explained that an operations safety department was established at the company and began its work to enhance scientific and systematic dealing with the process of raising awareness of the human element to prevent risks.
He added that a cooperation protocol was also signed with one of the international companies to implement an advanced system applied globally to enhance safety in the field of transporting petroleum products through the fleet of cars designated for this purpose and monitoring them through an advanced digital system, stressing the readiness for implementation within a short period.
The Chairman also explained Misr Petroleum efforts in establishing and developing car fueling and service stations according to international specifications and systems to develop its network of stations amounting to 1,560 stations across the country, noting that 33 stations were established and developed according to this model during the period July-December 2024, and the target is to establish and develop 70 stations in the FY 2025-2026.
In the field of engine oils, new products of semi-synthetic oils for gasoline and diesel engines were introduced, in addition to new products of industrial oils, most notably textile industry oils, which were widely accepted in line with the state’s plan to expand this industry, Bakheet said. The used containers were also developed, he added.
Within the framework of digital transformation projects to control the fuel trading system, the Chairman said that the company targets to complete the supply and installation of 58 the automated measurement systems (RTG) to monitor the balances of the company’s shipping and trading warehouses, reviewing the targeted work to develop and raise the efficiency of a number of warehouses.
In the field of jet fuels at Egyptian airports, he pointed out that the company’s sales volume of jet fuel increased to 762,000 tons during the period July – December 2024, an increase of 127% over the target in the plan to increase dollar income.
In the field of vessels fuel, Bakheet explained that the company’s fueling capabilities reached 30,000 tons per month and it owns two specialized refueling tankers, and it is targeted to increase business growth with the stability of the situation in the region, as well as working in an integrated manner with sister petroleum sector companies to exploit existing facilities and increase economic feasibility.
