Egypt Oil and Gas learned that the Minister of Petroleum and Mineral Resources, Sherif Ismail, had said that the provision for citizens’ needs of petroleum products is a strategic goal and that they are currently executing a program to secure supplies, especially of butane to keep up with increased consumption, especially during the winter.
He explained that new projects were also underway to expand the transport and storage of LPG, the most important of which was the renovation of the Assiut plant for $1.8b.
These remarks were made at the general assembly meeting yesterday organized by the ministry for the oil companies that make up the Egyptian petroleum sector, in a ministerial press release issued yesterday evening.
Adel Al Shuwaikh, president of Petrogas, said his company had already provided LPG canisters to meet local demand, about 4.3 m tons during the fiscal year 2014-2015, adding that they succeeded in creating a strategic reserve worth 134.8 thousand tons of LPG for any crisis that might emerge especially in winter.
Zuhdi Maruf, head of the Cairo Oil Refining Company, explained that his company was able to refine about 5.2 m tons this year, with an investment of EGP68 m.
Mohamed Allam, President of Assiut Oil Refining Company, also said that his company had refined about 4 m tons of petroleum products, or 65% of local market needs in the provinces of Upper Egypt, in addition to producing gasoline, diesel, LPG and jet fuel.
Abdel Fattah Abdel Aziz, CAPMAS director of accounting for oil companies, and Mohammed Saafan, President of the General Trade Union for Petroleum Workers (GTUPW), were also present.