Al-Manar Group Plans to Boost Exports to 10%
Al-Manar Group plans to boost its exports to 10% in 2019, as the company increases its lubricant production capacity and supplies them to a number of new Arab and African markets.
Al-Manar Group plans to boost its exports to 10% in 2019, as the company increases its lubricant production capacity and supplies them to a number of new Arab and African markets.
Oil goods exports grew by 18.4%, recording $14.3 billion in H1 FY 2018/19 compared to $12.1 billion in H1 FY 2017/18, which contributed to decreasing the deficit in the balance of trade.
The company produced 5 million tons of different high quality petroleum products that meet global standards.
The plan is to export LNG from some of Zohr's production to the European markets upon obtaining a license from the Ministry of Petroleum.
The LNG cargoes are offered in a tender that is set to close on March 18 in order to be awarded by March 21.
Egyptian natural gas exports to Jordan reached 350 mmscf/d compared to 100 mmscf/d in January 2019.
The company exports its product to Middle Eastern and North African countries, as well as some countries in Asia and South America.
Egypt exported petroleum products for $3.1 billion within a year, of which $0.5 billion came from fueling ships and planes.
Egypt has started exporting around 165 million standard cubic feet per day (mmscf/d) of natural gas to Jordan in order to cover gas supply in electricity generation.
The country's exports did not have any amounts sent through pipelines in fiscal year (FY) 2017/18.