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Tag: Downstream

Egypt received half of contracted Iraqi crude oil shipments – source

Posted: July 30, 2017 at 4:15 pm   /   Oil & Gas

Egypt has so far received half of its contracted 12 mn bbl of Iraqi crude oil scheduled for delivery in 2017, a source tells Al Mal. The latest shipment is the third since May. Refiner MIDOR received 50% of the total oil delivered, while AMOC got 14%. A portion of the refined product is re-exported […]

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El-Molla: Egypt plans $4 billion petrochemical complex in Suez

Posted: July 17, 2017 at 2:31 pm   /   Oil & Gas

Egypt is planning to establish a petrochemical complex in Suez, with an investment cost worth more than $4 billion, Petroleum Minister Tarek el-Molla said Thursday. The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, El-Molla added in a press conference. The Egyptian Petrochemicals Holding Company (ECHEM) as well […]

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New 150 MW power plant inaugurated at Ethydco complex

Posted: July 8, 2017 at 5:38 pm   /   Electricity & Power

A new 150MW power plant was inaugurated at the complex of the Egyptian Ethylene and Derivatives Company (ETHYDCO) Thursday, at a cost of $98 million. The power plant was built by the Engineering Co. for Petroleum and Process Industries (ENPPI) and the Egyptian Maintenance Company (EMC – Sun Misr), Minister of Petroleum Tarek El-Molla said […]

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AMOC agrees with Azerbaijani SOCAR to export 3000 tons of Mazot

Posted: July 2, 2017 at 2:36 pm   /   Oil & Gas

The Board of Directors of Alexandria Mineral Oils Company (AMOC) has agreed with Azerbaijani SOCAR to export 3000 tons of lubricants during June. The company said in a statement to the Stock Exchange of Egypt, on Thursday, that the contract price average price of diesel (3.5% sulfur) for three days around the bill of lading […]

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MIDOR seeks $1.2 billion facility to fund expansion plans

Posted: June 15, 2017 at 5:37 pm   /   Oil & Gas

Middle East Oil Refinery (MIDOR) renewed its request for a USD 1.2 bn loan from a banking consortium including Italian bank Cassa Depositi e Prestiti (CDP), BNP Paribas and Crédit Agricole, a source tells Al Mal. The loan is set to finance expansion plans for its refineries, as it wants to bring its refining capacity […]

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MIDOR increases refining capacity by 109% y-o-y in Q12017

Posted: June 7, 2017 at 5:43 pm   /   Oil & Gas

Middle East Oil Refinery (MIDOR) raised its refining capacity by 109% y-o-y in Q12017 to 3.9 mn bbl of refined crude, a source tells Al Shorouk. The increase is fueled by the USD 20 mn spent on the first phase of its expansion plan, which started in January. MIDOR targets bringing its refining capacity up […]

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MOP - DOW Chemical

El-Molla holds discussions with DOW Chemical's Regional President

Posted: June 1, 2017 at 8:15 pm   /   Oil & Gas

Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources met with Mr. Jim Mcllvenny, President DOW India, Middle East, Africa and Turkey, in presence of CEO of ECHEM. The Minister cleared out that the Egyptian Petrochemical industry is a promising one with World specifications’ products, are available in several global markets, labeled “Made in […]

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Sinopec downplays concerns about its investment in Egypt

Posted: May 24, 2017 at 1:30 pm   /   Oil & Gas

China Petroleum & Chemical Corp, or Sinopec, has played down concerns about potential risks to the value of its investment in the Apache project in Egypt. Sinopec’s clarification came in response to concerns that the value of its 33 percent stake in Apache’s Egyptian company, which it bought for $3.1 billion in 2013, may have […]

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ERC Refinery to begin production in 2018

Posted: May 21, 2017 at 1:09 pm   /   Oil & Gas

The Egyptian Minister of Petroleum and Mineral Resources Eng. Tarek El Molla said that the Egyptian Refining Company’s (ERC) project is expected to be begin operating by the end of 2017. The minister added on the sidelines of his visit to the Cairo oil refinery on Saturday that actual production is expected in 2018. The […]

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Bechtel awarded two contracts by Carbon Holdings of Egypt

Posted: April 20, 2017 at 2:49 pm   /   Oil & Gas

Bechtel Selected to Deliver Major Petrochemicals Project in Egypt – Award Builds on Company’s Extensive Experience in the Middle East. Bechtel, a global leader in engineering, procurement, and construction, announced today that the company has been awarded two contracts by Carbon Holdings of Egypt: one to provide project management services for the Tahrir Petrochemicals Complex […]

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