Western Desert Operating Petroleum Company (WEPCO), headed by Chairman Ibrahim Masoud, signed an agreement with the Middle East Oil Refinery (MIDOR), headed by Chairman Salah Jaber Bahnasy, for the trading of crude oil.

The agreement aims to supply the refinery of Midor Company with its needs of crude oil, which is received from tankers at the facilities of the Al Hamra Petroleum Port area and then pumped directly to the refinery.

The signed agreement comes within the framework of the Ministry of Petroleum and Mineral Resources’ (MoPMR) vision to maximize the benefit from the capabilities of the Hamra Petroleum Port located in the New Alamein City on the Mediterranean coast, within the framework of making Egypt a center for energy trading and in light of the MoPMR’s directives regarding integration between petroleum sector companies and optimal utilization of the available capacities of the companies.

This agreement is the nucleus for starting the operation and exploitation of the energies of MIDOR and WEPCO by exploiting the available capabilities in the facilities of Al Hamra Petroleum Port in addition to exploiting the facilities being established within the expansion plans of Al Hamra Petroleum Port.

The first phase of the northern area expansion is currently being completed by constructing four storage warehouses, each with a capacity of 630,000 barrels, to reach a total storage capacity of 5.3 million barrels by 2025.