Petroleum minister chairs high committee for monitoring petroleum product trading, distribution



Sun, 25 Jun 2023 - 12:31 GMT


Sun, 25 Jun 2023 - 12:31 GMT

Minister of Petroleum and Mineral Resources, Tarek El-Molla, stressed the importance of leveraging advanced digital technologies and infrastructure to boost operational efficiency in the distribution and circulation of petroleum products, in a recent official statement.

While chairing the inaugural meeting of the High Committee responsible for monitoring the trading and distribution system of petroleum products, El-Molla emphasized the importance of strengthening the role of operation rooms dedicated to overseeing the distribution of these vital commodities, ensuring optimal use of inventories and meeting domestic consumption demands.

The PetrolMin also underlined the committee's purpose of closely monitoring the flow of petroleum products distribution and trade. The committee’s monitoring will include central and main operations chambers within the ministry and petroleum product marketing companies, all of which have adopted modern digital technologies over the years, the statement explained.

Real-time monitoring, including warehouse and station inventories, plays a crucial role in providing detailed data on consumption patterns, the minister added. This type of monitoring will enable the timely provision of petroleum products tailored to each geographical area’s demand, particularly during seasonal consumption changes and increased demand in specific regions.

El-Molla emphasized that strategic reserves of various petroleum products are readily available in all oil refineries, fuel shipping depots, and distribution stations, pointing out that these reserves have been instrumental in maintaining stability within the fuel system in recent years.

Furthermore, the introduction of monitoring and distribution procedures, along with improved efficiency of the fuel transport fleet, ensures a swift response to any emergency fuel requirements and prevents potential bottlenecks, the statement wrote.

The committee operates around the clock to monitor station credits and overall credits of different governorates, identifying areas that require additional volumes and investigating any abnormal withdrawals or noticeable declines in station inventories, the petroleum ministry explained, adding that it tracks the quantities distributed to industrial customers.

The government is committed to taking legal action against any violations or manipulation of petroleum products to safeguard the state's interests and stabilize the local fuel market, it wrote.




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