CAIRO, Sept 9 , 2018 (MENA) - Petroleum Minister Tarek el Molla on Sunday underlined the importance of developing the pipelines used in transferring crude oil and petroleum products. He said the ministry is keen to maintain a stable market for petroleum products through setting up new twin pipelines extending from production sites and ports to refinery labs and consumption outlets. The minister was speaking at the general assembly meeting of public sector petroleum companies of the Petroleum Pipelines Co., the Nasr Petroleum Company and the Suez Oil Processing Company to approve the 2017/2018 fiscal year budget. In a statement, the minister underlined the importance of making periodical maintenance works of different product units at refinery labs and setting up new ones to increase production and meet local needs. Chairman of the Petroleum Pipelines Co. Abdel Monem Hafez said efforts are under way to finalise twining Ras Bakr-Ras Ghareb-Assiut pipeline, a move that will facilitate the transport of butane gas between Cairo, Suez and Assiut. He said the line will be operational in the first quarter of 2019. Nabil Abdel Khaleq of Nasr Petroleum Company said 270-million-pound investments were pumped into developing existing pipelines or setting up new ones. The company refined this year 2.8 million tonnes of crude oil to secure local needs, he added. Head of the Suez Oil Processing Company Mohamed Elewaa said 1.2 million tonnes of crude oil were refined this year, up by 10 percent compared to the year before. The country's production hit LE2.1 billion this year.
