Egypt's Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, emphasised the critical role of national fuel distribution companies in efficiently meeting the needs of local consumers across Egypt. Speaking at the General Assembly meeting of the Cooperative Petroleum Company, he stressed the importance of implementing ambitious plans to boost sales and maximise profitability from distribution activities and service stations. The minister also underscored the necessity of applying strict governance mechanisms to prevent the leakage or illegal trading of petroleum products, ensuring the protection of Egypt's petroleum resources and state subsidies. These statements were made during a meeting attended by Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Engineer Mahmoud Esmat, Minister of Electricity and Renewable Energy; Dr. Manal Awad, Minister of Local Development; and other senior officials. The meeting aimed to discuss and approve the company's investment budget for the fiscal year 2025-2026. Engineer Kamel El-Wazir praised the Cooperative Petroleum Company as a pioneering national entity, expressing aspirations for its continued growth and excellence in serving Egyptian citizens. He highlighted the Ministry of Transport's commitment to cooperating with the Ministry of Petroleum and the company to expand its network of stations along new roads and axes, ensuring rapid and tangible results. Nasser Shoman, Chairman of the Cooperative Petroleum Company, outlined the company's achievements, including the operation of 1,246 fuel stations nationwide, with 25 new stations nearing completion and eight more under construction. He also noted plans to establish 16 additional stations in strategic locations, such as the New Administrative Capital and major roads, to enhance revenues and sales of high-quality petroleum products. Shoman reported a 31 per cent increase in sales of 95-octane gasoline and a 12 per cent rise in 92-octane gasoline from July to December 2024 compared to the same period in 2023. Additionally, the company holds a 16.5 per cent market share in engine oils and is working to improve the quality of its products. The meeting also reviewed efforts to modernise the company's warehouses and implement advanced control systems, such as RTG and GPS, to ensure efficient oversight of trading and distribution processes. Senior officials from the petroleum sector and the Central Auditing Organisation attended the assembly, reaffirming their support for the company's growth and development. Attribution: Amwal Al Ghad English
