A total of 5.3m tonnes of crude oil refined by Alexandria Petroleum in FY21/22

Cairo – Mubasher: Alexandria Petroleum Company (APC) announced refining a total of 5.30 million tonnes of crude oil in fiscal year (FY) 2021/2022, Ahram Gate cited the company's Chairman, Mohamed Sobhy, on Monday.

This helped provide EGP 79.70 billion worth of petroleum products, contributing to meeting part of the local market needs of butane, naphtha, diesel, mazut, jet fuel, asphalt, wax distillates, and petroleum solvents at a value of EGP 48 billion. Moreover, the company provided some petroleum companies with their needs of raw materials to feed their projects at EGP 26.40 billion, revealed Sobhy. 

The Chairman's statement was made during the ordinary general meetings (OGMs) of public sector companies, including Alexandria Petroleum, which took place earlier this day to approve the companies' financial results for FY21/22.

The company further exported petroleum products worth EGP 5.30 billion to Italy, Spain, France, Malta, Cyprus, Greece, Georgia, Slovenia, Tunisia, Lebanon, Morocco, and Nigeria.

Furthermore, a sum of EGP 1.20 billion worth of investments was injected to carry out projects for the replacement and renewal of production units, asset and resources management, the development of security and safety systems, and energy efficiency.

In addition, the company contributed to projects aimed at the development and modernisation of the petroleum geographic area in Alexandria. 

Mubasher Contribution Time: 19-Sep-2022 14:33 (GMT)
Mubasher Last Update Time: 19-Sep-2022 14:56 (GMT)