The Deputy Chief Financial officer of the Egyptian Refining Company “ERC” Aliaa Heikal announced that her company targets to receive $76 million from Japanese and Korean banks at the end of December 2019 as the last installment package of the loans that the company keep for establishing and developing Mostorod refinery .

The Egyptian Refining Company announced completing 96.5% of construction work for Mostorod refinery.

French oil company Total is considering bidding to build the green-field oil refinery in the Iraqi city of Nassiriya.

Production from the Egyptian Refining Company (ERC)’s refinery in Mostorod will be postponed to 2nd quarter of 2018 due to construction delays.

The Egyptian General Petroleum Corporation (EGPC) aims to increase refineries capacity to reach 30m tons of crude oil in the second half of 2017.