Heavy Fuel Share Reaches 50 Tons…… Quena Co. Objects

Mohamed Al Sharouny, Managing Director for the Financial and Commercial Affairs, Quena Paper Industry Company, has objected on the response of the minister of petroleum over the company’s appeal to raise the share of the heavy fuel oil, from 138 tons to 350 tons every day via El-Neel Oil Marketing Company, an affiliate of the ministry. He elaborated that the company only increased 50 tons.
He added that the factory is suspended days ago, due to the break down of the production lines. This helped in having reserves by storing the extra amount  that the company of petroleum imported, estimated with 200 tons of heavy fuel oil. The factory is committed to valid contracts, which are settled till repairing the break down.
Al Sharouny has warned of the continuity of suspending the factory, in case of finishing the reserves; affirming that the factory uses 350 tons of heavy fuel oil. The factory has been depending on the reserves of the heavy fuel oil, after the company decreased the share to 60% of the daily rate.
He emphasized the necessity of importing shares suffice the daily need; referring that the factory’s daily production costs amount to EGP 2 million.
The company has sent a letter to Eng. Osama Kamal, minister of petroleum and mineral resources; calling for increasing the company’s daily share of heavy fuel oil, from 138 to 350 tons via  El-Neel Oil Marketing Company.