Minister of Petroleum Tarek el-Molla – file photo
CAIRO – 16 September 2017: The Petroleum sector is establishing a number of projects in Upper Egypt with the aim of developing the area and attract investment to it, Minister of Petroleum Tarek el-Molla said Saturday.
He said that one of the important projects underway is enhancing and expanding Assuit’s refining complex. Molla’s statements came during his meeting with the general assembly of Assuit Oil Refining Company (ASORC) to approve its results for fiscal year 2016/2017.
Molla stressed on the importance of accelerating the execution of the new projects as they are important to secure Upper Egypt’s demand for petrol.
He said that his ministry is responsible for providing all what is needed to complete the projects and eliminate any obstacles that might stand in their way.
Meanwhile, ASORC’s president, Nagi Abdel-Ghaffar, said that his company refined about 3.8 million tons of crude oil during fiscal year 2016/2017, and is providing Upper Egypt with petroleum products to meet its demands.
He added that the company produced around 1.1 million tons of diesel, 2.1 million tons of fuel oil (mazut), 41,000 tons of butane gas and 526,000 tons of gasoline.