Cairo – Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, said that the current expansions being implemented at Middle East Oil Refinery (MIDOR) are aimed at boosting the output capacity by 60%.
The new expansions are expected to be complete and put on production by the first quarter (Q1) of 2022 with an investment cost of $2.3 billion, El-Molla added in a statement on Monday.
Despite the challenges posed by the pandemic in 2020, the refinery operated at 103% of its operating capacity, the Chairman of MIDOR, Gamal ElKareish, said.
Over the course of 2020, the company refined 26.5 million barrels of oil and produced 4,600 tonnes of high-quality petroleum products, of which 86% were pumped into the local market, he noted.
MIDOR also raised the output of diesel and gasoline by 30% and 22%, respectively, during the year.
This came during the company’s general assembly headed by Tarek El-Molla to approve the business results for 2020.
