The importance of the project stems from its remarkable contribution in easing the reliance of Egypt on imports for higher end-petroleum products and producing cleaner burning fuels, with most of Egypt’s refineries producing large amounts of fuel oil.
What is Egypt’s oil refining capacity?
Only one was built since; Egyptian Refining Company (ERC) in 2007. Meanwhile, sporadic upgrades have pushed Egypt’s maximum oil refining capacity to 732,550 barrels a day by the end of 2016, according to the Egyptian General Petroleum Corporation (EGPC).
Which oil refinery is the most advanced in Egypt?
Consumption throughout 2016 has been 7% higher than in 2015, according to Ezz el Regal. MIDOR was established in 1994 by EGPC, which owns 98% of its shares and Suez Canal Bank owning the rest. It is widely regarded as the most advanced oil refinery in Egypt with state-of-art equipment.
Will Egypt import Arabian oil?
Tarek El-Molla, CEO of EGPC, recently told Daily News Egypt that Egypt would begin importing Arabian oil for Egypt’s refineries, and exporting the higher-quality crude produced in the Western Desert. “El-Molla said this is because Egyptian plants require API 31 crude, which is similar to the crude produced by Belayim Petroleum and Arabian Crude.
Where is the Tanta refinery located in Egypt?
The Tanta refinery near Port Said is operated by the Cairo Petroleum Refining Company. It has a capacity of 35,000 b/d. Other than a small hydrotreating unit it has no upgrading capacity. The Cairo Petroleum Refining Company in Mostorod, near Cairo has a capacity of 145,000b/d. The majority of Egypt’s refined products are sold to local markets.
How many oil refineries are in Egypt?
In Egypt, nine out of ten oil refineries are run by the state. This setup meant that investments in oil refineries never measured up to crude oil extraction investments, which had always relied on international firms such as Apache and BP.