Egypt has pushed back its target date for self-sufficiency in refined products from 2022 to 2023, the oil ministry acknowledged this week. It is likely only a matter of time before a similar target to end net oil imports is also pushed back.
The proximate reason for the oil products slippage is Covid-19, which has pushed back work on key refinery upgrades. Alexandria-based Midor recently announced that its key contractors have declared force majeure on the plant’s ongoing 60,000 b/d expansion (MEES, 24 July). (CONTINUED - 815 WORDS)