Cairo Oil: 4.9m tonnes of oil refined in FY2015-16 with $8.8mn
Egypt-based Cairo Oil Refining Company (CORC) has refined around 4.9 million tonnes of oil during financial year 2015-16 with investments estimated at 77.6 million Egyptian pounds (US$8.8 million).
Chairman Mohamed Hashish stated Tuesday that the company participated in covering part of local market needs of petroleum products as it produced around 69,000 tonnes of butane, and 3.4 million tonnes of petrol ( 80 and 92 RON).
The company also produced around 2.3 million tonnes of heating oil, 971,000 tonnes of diesel, and 329,000 tonnes of jet fuel, the chairman added
The head made these remarks during the meeting of Petroleum Minister Tarek El-Molla to approve business results of public sector oil companies, i.e. Petroleum Gas Company (Petrogas), Cairo Oil Refining, and Assiut Oil Refining company- ASORC.
Meanwhile, Head of Petrogas, Adel Al Shuwaikh asserted that the company succeeded in providing local consumption needs that reached around 4.4 million tonnes, while the butane capacities reached around 134,800 tonnes.
During the meeting, Chairperson of ASORC, Nagi Abd El-Ghaffar pointed out that the company refined around 3.9 million tonnes of crude oil and succeeded to supply local market with petroleum products to participate in securing needs of Upper Egypt governorates.
Nagi clarified that ASORC maximised its production of diesel to 1.1 million tonnes annually in addition to producing 2.1 million tonnes of heating oil to cover needs of power plants.
