Page 14 - DMEA Week 31 2021

DMEA NEWS IN BRIEF DMEA

POLICY maximum economic benefit from Egypt’s implementation position of the project,
oil wealth. which aims to convert diesel of low economic
Egypt implements 5 sector has succeeded in implementing value, with a feeding capacity of 2.5 million
The minister added that the petroleum
tons annually, into high-quality petroleum
refining, petrochemical many major projects in recent years, products, especially diesel, with investments
of about $2.9 billion.
breaking records in timing and accuracy of
projects worth $14B implementation, and gained distinguished progress of construction works in the project
The meeting witnessed a review of the
experiences and capabilities that qualify it to
The Egyptian Minister of Petroleum implement new projects efficiently, quickly of the new asphalt production unit in Suez,
and Mineral Resources, Tarek El-Molla, and with international specifications, stressing with a production capacity of 1200 tons of
stated Thursday that 5 major refining the importance of continuing to train and asphalt per day and investments of about $64
and petrochemical projects are being qualify human cadres and refine their skills. million.
implemented, with investments of about $14 During the meeting, El-Molla stressed The executive position of the project of
billion. the importance of continuing to apply all the coking complex in Suez, which aims
This came during the presidency of standards of safety, occupational health, to maximize the added value of diesel and
El-Molla for the meeting of the Supreme industrial security, and preservation of the convert it into high-value products and
Committee for Petroleum Projects to review environment in the implementation and meet the needs of the local market for
the status of the progress of work for the operation of projects, and the importance of petroleum products, especially diesel with
refining and petrochemical projects that are adhering to the specific timelines for project Euro 5 specifications and butane gas, which
currently being implemented, which include implementation and speeding up their contributes to limiting imports, and its
the expansion project of the Midor refinery placement on production and working to investments amount to about $1.4 billion.
in Alexandria, the project of the Red Sea overcome any obstacles that might affect the EGYPT TODAY
Petrochemical Complex in the Suez Canal implementation stages.
Economic Zone, the project of the ANPEC For his part, the Chairman of MIDOR
complex for the production of diesel in Company reviewed the progress of work COMPANIESREFINING
Assiut, and the project to establish an asphalt in the MIDOR refinery expansion project,
production unit New Suez and the project of which aims to increase refining capacity by South Pars Phase 19
the coking complex in Suez. 60 thousand barrels per day, with investments
El-Molla confirmed that the petroleum of about $2.4 billion, indicating that the refinery boosts propane,
sector is currently implementing an integrated coming period will witness the completion of
work program to develop and modernize the the implementation of the first phase of the butane output
refining and petrochemical system in Egypt by project.
raising the operating efficiency of the already Head of the Red Sea Petrochemical The CEO of Petropars Operation and
existing refineries and adding new production Company reviewed the progress of the Management Company (POMC) said
units. project’s preparation work and the target production of propane and butane in the
He stated, in a statement that new timetables for completing the implementation South Pars Phase 19 refinery increased
petrochemical projects are being established of the production units, noting that the with the commissioning of all refrigeration
with the aim of sustaining the provision of investment cost of the project amounts to compressors of propane and butane units.
petroleum and petrochemical products to about $7.5 billion to produce high-quality According to Petropars Group, Amir
the local market and the state’s economic petrochemical products to meet local needs Shahram Zaman stated that the assembly and
sectors, as well as reducing the import bill, and export the surplus. preparation of refrigeration compressors was
maximizing the added value and achieving the The head of ANPEC also reviewed the done for the first time by the company’s

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