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Egypt’s oil minister Tarek El Molla told last month’s Egypt Petroleum Show in Cairo that he expects the country to be self-sufficient in refined products from 2022. He says that by then four key refinery upgrade and expansion projects will have been completed.
“We have important projects for expansion of refineries in Alexandria, Cairo, Suez and Assiut,” says Mr Molla. “Most of them have kicked off already and are in the execution phase,” he says, adding that one project is due online each year for the next four years.
But MEES begs to differ with both this timeline – one project in late 2019 and two in 2022 is the best Egypt can hope for – as well as Mr Molla’s assessment that the projects will end Egypt’s reliance on products imports. (CONTINUED - 1765 WORDS)
DATA INSIDE THIS ARTICLE
|chart||For Diesel, Egypt Imported 125,000 B/D In 2018, 46% Of Consumption. The Near-Complete Erc Hydrocracker Would See This Fall To 26%. The Share Could Conceivably Fall Below 10% By 2023 If Projects At Midor And Assiut Proceed As Planned|
|chart||For Gasoline, 2018 Import Reliance Was Also 46%, Some 75,000 B/D Of Demand. ERC Should See This Fall To Around 36% By End-2019 But Further Gains Will Be Modest|