Egypt’s oil sector is planning to boost the daily production capacity for refineries from 62.000 to 85.000 thousand tonnes by end of 2020, minister stated.
According to Oil Minister Sherif Ismail, the annual production capacity for Egypt’s refineries currently stands at 35 million tonnes.
Egypt now only operates at 55% of total refining capacity, he noted.
Ismail emphasised on the importance of the rehabilitation and upgrading of the old refineries alongside applying the workplace and safety standard requirements and specifications through mandating a specialised company to review them.
“Ministry of Petroleum is aiming to achieve a leap in the capacity of its current refineries and to establish others to accommodate the amounts of imported oil.” the Minister added.