SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    Egypt's PM meets Tokyo governor, witnesses signing of education agreements    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt's Sisi, France's Macron discuss Gaza ceasefire efforts in phone call    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    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    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    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.



Egypt's MIDOR refinery expansion will open in Q1 2022: Petroleum Minister
Expansion project aims to increase refinery's production capacity by 60%, with $2.3bn investments
Published in Daily News Egypt on 22 - 03 - 2021

Egypt's Minister of Petroleum and Mineral Resources Tarek El Molla has said that the ongoing expansion project of the Middle East Oil Refinery (MIDOR) is set to be completed in the first quarter (Q1) of 2022.
The expansion project aims to increase the refinery's production capacity by 60%, and will see investments of about $2.3bn.
According to a statement from the Ministry of Petroleum and Mineral Resources, El Molla added that the project represents a quantum leap in the refining system. It aims to contribute to the sustainable stability of the petroleum products market in Egypt.
The minister noted that the MIDOR refinery plays an important role in providing a large amount of petroleum products to the local market, especially gasoline and diesel.
El Molla's remarks came during MIDOR's recent General Assembly, under his chairpersonship, to approve the business results for the year 2020.
During the meeting, the minister referred to the important role played by Enppi and Petrojet in the project's implementation, which comes as part of a number of new refining projects being implemented.
It will be completed in succession during the next two years, and is set to contribute to the ministry's plan to achieve self-sufficiency in petroleum products, namely gasoline and diesel, by 2023.
El Molla stressed the importance of the system's safe operation by adhering to occupational health and safety measures, and preserving the environment. It would also take into account the precautionary measures to curb the novel coronavirus (COVID-19) pandemic, to protect workers and their families, without affecting the production process.
During the meeting, Gamal Elkareish, President of MIDOR Refinery, reviewed the most important business results achieved during 2020, despite the challenges of the global health crisis.
He explained that the refinery was operated at full production capacity, or at 103% of its operational capacity, and 36.5 million barrels were refined during the year.
It produced 4,600 tonnes of high-quality petroleum products that conform to international specifications, and approximately 86% of these products were directed to the local market.
He pointed out that the company had maximised the production of diesel and gasoline, with an increase of 30% and 22%, respectively, compared to 2019. This has led to a 19% increase in MIDOR's contribution to the needs of the local market for diesel products, and 17% for gasoline products.
He added that MIDOR is proceeding with the implementation of the expansion project to increase its production capacity.
The company has also been able to complete the rehabilitation of 80% of the original units of the refinery, to reach 100% safe operation as one of the conditions for increasing the production capacity.


Clic here to read the story from its source.