The Chairman of Nasr Petroleum Company (NPC) Mohamed Abdullah has announced that the company pumped EGP 1.5 billion as part of its investment plan during the fiscal year (FY) 2022/23 to establish a number of projects aiming to update the operation system and enhance efficiency.

This came during the general assembly meetings of the companies of Assiut Oil Refining Company (ASORC), Cairo Oil Refining Company, Nasr Petroleum Company, and Petrogas, chaired by the Minister of Petroleum and Mineral Resources Tarek El Molla to approve their annual results.

Abdullah added that NPC refined about 2.4 million tons of crude in order to contribute to supplying part of the local needs of petroleum products.

For his part, El Molla highlighted the projects established in Mostorod and Suez areas to increase the production capacities noting their impact on the operational results year after year.