The Egyptian General Petroleum Corporation (EGPC) targets to boost the capacities of Egyptian refineries to 30 million tonnes per year within the second half of 2017.
An official at EGPC said that beginning production from Cairo Oil Refining Company (CORC) refinery at Mostorod is to achieve anticipating leap in the capacities of the Egyptian refineries.
The refinery is operated by the Cairo Oil Refining Co (CORC), a unit of the Egyptian General Petroleum Corp (EGPC), and first came onstream in 1973.
In mid-2014, EGPC had increased the capacities of refineries to 28 million barrels per year against 26 million.
The official noted that CORC refinery will begin production in April 2017, the project will meet a big share of high-octane petroleum derivatives requirements of the domestic market.
The capacity of Mostorod refinery project is estimated at 4.3 million tonnes of gasoline; CORC will supply its total production of gasoline amounting to 3.5 million tonnes, alongside 1.2 million tonnes of crude oil will be imported from abroad to be refined in Mostorod refinery with $3 price differential per each barrel for producing the remaining 800,000 tonnes of gasoline.
The completion of the new refining projects will contribute to closing 50% gap in the domestic market which is the deficit between petroleum derivatives production and consumption, EGPC official demonstrated.
According to EGPC report, the investments of upgrading Egyptian refineries were amounted to $7.9 billion including EGP 7.4bn investments in the under construction projects, EGP 440mn for the scheduled projects and EGP 65mn for the projects which had been already implemented.
At Assiut Oil Refining Company (ASORC), there is also a light naphtha isomerisation unit producing 330,000t per year of high-octane unleaded gasoline with investment of $250 million. Moreover, naphtha isomerisation project implemented by Alexandria National Refining and Petrochemicals Co. (ANRPC) for producing high-octane gasoline with investments of $313 million.
EGPC report explained that the new refining projects also include 60% upgrade for the Middle East Oil Refinery (Midor(to raise gasoline, fuel diesel and butane output with investments of $1.4 billion, in addition to the $3.7 billion Egyptian Refining Company (ERC) financing for development of the Mostorod hydro-cracking refinery near Cairo.
Furthermore, Assiut Oil Refining Company (ASORC) is to establish hydro-cracking complex for producing fuel diesel, butane and naphthawith investment of $1.6 billion, besides acid gas removal (AGR) unit and the sulphur recovery unit (SRU) for producing butane and naphthawith investment of $21 million.
Suez Oil Processing Company (SOPC) scheduled refining projects in this year include $44.3 million gas recovery unit (GRU) for producing butane and naphtha, and $50 million new asphalt unit project for producing asphalt and fuel diesel.