Petroleum Minister Tareq Mulla said the total revenues of the Amreya Petroleum Refining Co. (APRC) and the Alexandria Petroleum Company hit EGP 51 billion during the 2020-2021 fiscal year.

He made the remarks on Saturday 18/09/2021 during the general assemblies of the two companies, the Petroleum Ministry said in a statement on Saturday.

Mulla underlined that the economic measures adopted by the state to amend prices of petroleum products had a positive impact on securing needed funds for implementing several projects aiming at developing the infrastructure and refineries.

Mulla said the petroleum area in Alexandria is one of major refining hubs in Egypt that contributes about 45 percent of the total refining capacity.

He said several projects are being implemented to upgrade quays in Alexandria port to boost petroleum exports and imports.

Head of Alexandria Petroleum Company Mohamed Sobhi said the company’s labs refined about 5 million tons of raw oil materials, thus managing to secure petroleum products at EGP 48 billion.

The company injected about EGP 602 million during this year for implementing renovation projects, he said.

He added that the company exported petroleum products at dlrs 375 million to Italy, Spain, France, Malta, Cyprus, Greece, Georgia, Slovenia, Tunisia, Lebanon, and Morocco.

Mabrouk Abdallah of the Amreya Petroleum Refining Co. (APRC) said the company contributed to refining 3 million tons of raw oil materials during this year.

The revenues stood at EGP 3 billion, he said, noting that the company injected investments at EGP 493 million this year.

Source: State Information Service Egypt