Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, confirmed that an ambitious strategy is being implemented to develop the Egyptian refining industry through the construction of new refineries and additional expansions of some existing refineries so that the gap between domestic consumption and reduced imports from abroad and the sustainability of the provision of petroleum products to the domestic market, which has witnessed clear stability during the past period, said: Will be completed successively over the next two years of projects currently being implemented i.e. by 2023 where self-sufficiency is planned. Petroleum products (Fuel-oil and solar).
The minister added: We are moving at a steady pace in the implementation of the strategy of developing the oil refining industry in Egypt, a strategy implemented over 7 years from 2016 to 2023, and what has been achieved is 3 major projects so far, where we have completed the launch and operation of new refineries, the Egyptian refinery for refining with mustard and expansions of the ANOPC refinery in Alexandria to produce high-octane gasoline and the two projects had a presidential opening where they were opened by President Abdel Fattah El-Sisi and began the experimental operation of the high-octane gasoline production complex in a refinery Asyut Refining in Southern Egypt.
El-Molla said work is underway on two major refining projects, the ANOPC Assiut refinery and the large expansions at The MIDOR refinery in Alexandria, and two other projects in Suez, one a complex of high-quality petroleum products and the other an asphalt production project, all of which meet Egypt’s needs in the industry until 2030, so we have developed a vision for new projects that meet Egypt’s needs, such as the Red Sea project in the Economic Zone of the Suez Canal.
He added that although these projects are important as a key pillar in achieving the goal of self-sufficiency, they are not the only measures to achieve it, there are helping factors that pave the way for this through a clear strategy, the first of which is to correct the structure of fuel pricing and rationalize its support, which has positively reflected the ability of the oil sector to finance its new projects, in addition to national projects adopted by the state to develop roads and reduce congestion, which helps to reduce fuel consumption, as well as national projects to expand the use of natural gas In transportation, bakeries and other uses.
Mr. Tarek El Molla concluded: The sector has succeeded in implementing many major projects in recent years and breaking records in timings and accuracy of implementation and gaining the expertise and possibilities that qualify it to implement new projects efficiently, quickly, and with international specifications.