Nasr Petroleum Company (NPC) has exported quantities of petroleum products with a total value of more than $1 billion, recording an increase of 23% compared to the previous year, Mohamed Abdullah, Chairman of the company, announced.
This came during the general assembly meeting chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the company’s performance in 2020/21.
Abdullah said that the company refined about 3.7 million tons of crude (mmt), which contributed to covering some of the local market needs of butane, naphtha, jet fuel, diesel, mazut, and asphalt. Moreover, the output value of Al Nasr Refinery increased during the year to about EGP 2.7 billion, recording an increase of 16% when compared to the previous year.
Regarding the new projects, Abdullah noted that the company has invested EGP 2,2 billion to carry out a number of projects; the most important of which deals with establishing a condensate distillation device with a capacity of 1.2 million tons annually, in addition to establishing a new line to receive asphalt, 4 new storage warehouses and 3 salt separators units.
Commenting on the success achieved by oil companies, El Molla said that the implementation of a comprehensive strategy to develop, update and raise operating efficiency as well as the application of new procedures and systems in refineries contributed to achieving good indicators during the past few years compared to previous years.