Egypt's petroleum refining sector thrives as self-sufficiency goals are met.
The substantial progress achieved in Egypt's petroleum refining industry signifies the country's commitment to enhancing its self-sufficiency - File Photo
Over the past nine years, Egypt has witnessed notable advancements in its domestic production capabilities of gasoline, diesel, and liquefied petroleum gas (LPG).
Since the implementation of an ambitious strategy in 2016 aimed at enhancing the performance of the petroleum refining industry, efforts have focused on increasing the production capacities of gasoline, diesel, and LPG to bridge the gap between production and local consumption, secure vital domestic supplies, and reduce imports.
The achievements of the past nine years are as follows:
1. The commissioning of eight new projects in the field of petroleum refining and manufacturing, along with expansions of refining facilities, with a total investment cost exceeding $5 billion.
2. The significance of these projects has grown substantially in the past two years, serving as a safety valve to meet a significant portion of the local market's needs during global challenges and crises that the world has experienced.
3. President Abdel Fattah el-Sisi inaugurated three of the largest projects and expansions in the field of petroleum refining. He gave the signal to start their operations, including the Egyptian Refining Company (ERC) project in the Mostorod area in September 2020, the high-octane gasoline production complex in the Egyptian Refining Company (ERC) in Alexandria in August 2020, and the high-octane gasoline production complex in the Assiut Oil Refining Company in December 2021. Additionally, the asphalt production plant in the Suez Oil Refining Company was implemented and put into operation.
4. Work has commenced on several other major refining projects with a total investment of approximately $7 billion, and their operations will be gradually completed.
5. One of the most important projects is the expansion of the Middle East Oil Refinery (MIDOR) in Alexandria, where the first and second phases have been completed, and Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, gave the signal to start their trial operations, indicating the nearing completion of the remaining phases of the project.
Other projects include the diesel production complex in Anopetco in Assiut, the expansions of the Suez Petroleum Company for Petroleum Manufacturing, represented by the hydrocracking and diesel production complex, the condensates distillation project in Nasr Petroleum Company in Suez, and the atmospheric distillation project in Assiut Oil Refining Company.
The substantial progress achieved in Egypt's petroleum refining industry signifies the country's commitment to enhancing its self-sufficiency and reducing reliance on imports.
These achievements not only bridge the gap between production and domestic consumption but also contribute to the stability and security of vital petroleum products within the local market.
The expansions and new projects implemented in recent years demonstrate Egypt's determination to strengthen its position as a regional hub for petroleum refining and manufacturing, attracting investments and bolstering economic growth.
