Egyptian petroleum sector is currently executing a project for building new Vapor Recovery Unit (VRU) with total cost estimated at more than US$20 million
Speaking to Amwal Al Ghad Sunday, Egypt’s Oil Minister Tarek El-Molla stated that the project is set to secure state’s needs of butane and naphtha since it would produce around 356,000 tonnes of naphtha and 42,000 tonnes of butane annually.
He added that Egyptian petroleum sector keeps executing national projects to hike state’s growth rates by the end of current fiscal year.
Executing such projects comes to cope with government’s policy that aims at boosting economic growth rates, El-Molla said.
The minister clarified that there are expansions in oil production projects in order to provide local markets with petroleum products with affordable prices.
El-Molla clarified that those projects would lower Egyptian petroleum imports , thus, lowering the bill of subsidy on oil products.
Moreover, the minister pointed out that oil sector has a plan to increase new refining projects and renew old refineries to provide fuel for different governorates through local production.