US reaches "massive deal" with Japan    UK pay settlements stagnant amid inflation surge    Egyptian pound opens flat on July 23    Egypt's Sisi sends message to Burkina Faso leader on boosting ties    Egypt's current account gap narrows, but overall BoP records deficit    Egypt hosts international neurosurgery conference to drive medical innovation    World Bank proposes Egypt join new global health initiative    Egypt, India discuss expanding industrial, investment partnerships    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Investments of hydrogen cracking complex in Suez amount to $2.35bn: Minister of Petroleum
Four projects worth $309m were completed to raise efficiency of refineries
Mohamed Adel Published in Daily News Egypt on 10 - 02 - 2019

The Ministry of Petroleum aims to implement the project of the hydrogen cracking complex, and the production of gasoline in Suez, at a cost of about $2.35bn in order to produce high-quality petroleum products to contribute to the fuel market's needs.
Tarek El-Molla, the minister of petroleum and mineral resources, told Daily News Egypt that four projects with total investments of $309m were completed in order to raise the efficiency of the refineries.
He pointed out that his ministry is working on the development of six refineries with investments of $9bn over the next four years, as to increase the refining capacity of the Egyptian laboratories.
In addition to the implementation of these projects, the refining capacity of the Egyptian plants will increase to 41m tonnes per year, compared to the current capacity of 38m tonnes, to achieve an annual increase of 3.6m tonnes in the production of gasoline, and 8.6m tonnes of diesel in order to meet the needs of the market.
Moreover, El-Molla said that the ministry of petroleum is seeking to secure the supply of crude oil to the Egyptian factories, to increase the domestic production of petroleum products, and reduce the quantities of imported fuel, while reducing the pressure on the state's budget.
Egypt has eight crude oil refining plants with a refining capacity of 38m tonnes per year, of which only 25m tonnes are currently used.
El-Molla added that the ministry started working on developing a strategy in order to increase the investments in the exploration of crude oil, and to increase the production capacity.
Furthermore, he said that several projects are currently underway to develop the oil fields in the northwest October area in the Gulf of Suez, and to develop the Bat, Iris, and Qasr fields in the Western Desert, as well as to increase the capacity of the offshore oil shipping facilities.
El-Molla pointed out that the ministry aims to increase the production of crude oil and its condensates to about 700,000 barrels per day during the next fiscal year, in order to contribute to securing the needs of the domestic market of fuel products.

Clic here to read the story from its source.