EGP 1 Trillion Pumped into Oil Refineries- Mulla

A total of EGP 1 trillion has been pumped into oil refining, petrochemicals, and infrastructure projects over the past period, according to the Minister of Petroleum Tareq el Mulla.

Mulla pointed out that numerous ports have been developed to facilitate the entry of oil tankers into the country, adding two million tons per month, in addition to receiving tankers with large loads of up to 120 thousand tons, which are unloaded within 24 hours only.

This came during a meeting with Prime Minister Mostafa Madbouli on Sunday.

[caption id="attachment_74063" align="aligncenter" width="960"] Madbouli during a meeting minister of petroleum[/caption]

On his part, Madbouli stressed that the state saves no effort to increase its oil exploration projects to attract more investments into the sector.

"The state attaches great importance to the petroleum sector due to its vital role in promoting development in the country," Madbouli added.

Moreover, Mulla presented a report on efforts exerted to meet the state's requirements from oil products.

"The ministry secured 13.4 million tons of diesel, 7.3 million tons of gasoline and 3.9 million tons of butane gas between July 2018-19," Mulla pointed out.

As for the oil network, he pointed out to the replacement, and renovation of pipelines extending to about 500 km, at an investment cost of EGP 2.6 billion, contributing to an increase in the quantities of high-octane gasoline supplied to Greater Cairo and all governorates of Upper Egypt by 18%.