Urgent decision from the Minister of Petroleum regarding gasoline

0
4


Al-Arabiya Egypt channel reported, in urgent news, on its official page on the social networking site “Facebook”, that the Minister of Petroleum, Tarek El-Molla, confirmed that they will stop producing 80 gasoline soon.

Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, reviewed the distinguished results achieved by the Egyptian petroleum sector during the past seven years before the expanded symposium of the Egyptian Petroleum Association, in the presence of Dr.

El-Molla explained that the indicators that are presented illustrate the extent of tireless efforts that have been made and reflect what stability can achieve for countries, pointing out that Egypt offers an inspiring experience in building its economy and society to be emulated, after overcoming the challenges it faced during the period from 2011-2013 from a shortage of Gas supplies, continuous interruptions in electricity, and international arbitration cases worth billions of dollars against Egypt as a result of many failures in that period. The new natural gas development projects were suspended due to the disturbances, as well as the natural decrease in the production of wells and the need to develop the infrastructure for the production and circulation of petroleum products.

El-Molla stressed that with the restoration of political and security stability in June 2013, the vision changed, and the ministry launched in 2016 a comprehensive program with a clear vision and sustainable structural reforms, a project to develop and modernize the petroleum sector, which aligns with the vision of sustainable development Egypt 2030. A global bid through which it attracts investments and then transforms Egypt into a center to attract new technologies in research and exploration and provide all administrative, financial and technical support in addition to developing and raising the efficiency of the infrastructure such as refineries, networks of transmission lines, ports, storage capacities and others.
He pointed to the petroleum sector’s success in signing 99 petroleum agreements during the seven years with a minimum investment of $17 billion, drilling 384 wells and granting signatures of more than $1 billion, in addition to attracting new international companies to work in Egypt, and fulfilling more than 85% of the partners cumulative dues in the period from 2011. Until June 2013.

El-Molla added that Egypt’s research and exploration efforts, benefiting from the demarcation of the borders in the Red and Mediterranean Bahrain, are making tangible progress, whether in projects to collect geological data in the Red Sea or the western Mediterranean, or re-evaluate data in the Gulf of Suez, as well as speeding up the implementation of field development projects to be reflected in an increase Production, where 29 development projects were implemented with investments of 438 billion pounds and a growth in the gas sector from 11% in 2015-2016 to 25% in 2018-2019, in addition to achieving the highest rate in crude oil and gas production during the last two fiscal years, which amounted to 1.8 million barrels Daily, as well as achieving self-sufficiency in gas and re-exporting from the liquefaction factories in Idku and Damietta.

El-Molla reviewed projects to develop refineries to achieve self-sufficiency in gasoline and diesel in 2023, which include 7 projects with investments of about 86 billion pounds, producing 6.2 million tons annually. 30%, he also referred to the significant increase that has been achieved in the infrastructure of the oil and gas handling, transportation and storage system, including a 90% increase in the capacities of petroleum product lines by 122 million tons annually, an 85% increase in the port’s capacity, 45% in the storage capacities of petroleum products, and a 20% increase In the number of catering and service stations to reach 3650 stations, and doubling the stations for catering with gas as fuel to reach 369 stations.

El Molla also reviewed the development plans witnessed by the petrochemical industry to maximize the added value of Egypt’s oil and gas resources, as he explained that two new projects were implemented in Damietta and Alexandria with investments of about EGP 472 billion, with production rates of 4 million tons annually, an increase of 40%.
Al-Mulla explained that the volume of natural gas consumption doubled more than 20 times, reaching 47 million tons during the last fiscal year, of which the electricity sector accounted for 60%, and the industrial sector 12%, and the quantities of household gas consumption amounted to 6% during the year And that it is targeted to reach 7% during the next fiscal year as a result of the intensification of projects to deliver natural gas to homes, pointing out that the total number of housing units that have been connected with natural gas since the start of activity amounted to 12.3 million housing units over 41 years, of which 50% during the seven years Last .
The Minister of Petroleum indicated that the initiative launched by President Abdel-Fattah El-Sisi to expand the use of natural gas as a fuel for cars, due to its economic, environmental and social returns.

He explained that the total number of cars converted to natural gas amounted to 369,000 cars, including 165 thousand cars during the year 202/21, and the total number of car refueling stations reached 369 stations, pointing out that it is targeted to add 400,000 cars, including the conversion of 150,000 cars, in addition to replacing 250 1,000 cars through the initiative over 3 years.

With regard to the national project to transform Egypt into a regional energy center, El-Molla stressed that an integrated strategy is being implemented from 3 main axes. Petroleum includes the transformation into a regional energy center as one of its objectives and the assignment of a working team to prepare a strategy for transforming Egypt into a regional center for the trade and circulation of gas and oil with the help of a global consultant, which has already been completed and approved by the Council of Ministers. Regulating the gas market and establishing an independent body to regulate the affairs of the gas market, and on the technical and commercial axis, El-Molla referred to the efforts to negotiate with neighboring countries in the Eastern Mediterranean region to bring gas produced in them to be liquefied in Egypt and re-export, in addition to expanding pipeline networks, developing and raising the efficiency of ports on the Egyptian coast and increasing it. storage capacities, as well as settling international arbitration cases. With regard to the political axis, Al-Mulla confirmed that several memoranda of understanding have been signed with Jordan for cooperation. In the field of energy and gas, training in the field of gas, the resumption of gas exports to Jordan, the implementation of gas delivery projects inside Jordan, and the operation of the expansions of the natural gas network in Jordan. He also referred to the signing of a memorandum of understanding for bilateral cooperation with America in the energy sector and with the European Union for strategic partnership in the field of energy, as well as the establishment of a gas forum The Eastern Mediterranean and the signing of its charter to become an intergovernmental organization in the Mediterranean region, and stressed that the forum’s charter entered into force as a fully-fledged international organization based in Cairo in March 2021, and the Minister indicated that the most important objectives of the forum are the exploitation of energy as a catalyst for peace and the optimization of the current reserves And the future of gas in the Eastern Mediterranean region and increase the economic value of gas resources through joint cooperation in addition to promoting security n and diversify energy sources regionally.





Source link
https://www.elmostaqbal.com/552369/2021/10/17/%D9%82%D8%B1%D8%A7%D8%B1-%D8%B9%D8%A7%D8%AC%D9%84-%D9%85%D9%86-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%A8%D8%B4%D8%A3%D9%86-%D8%A7%D9%84%D8%A8%D9%86%D8%B2%D9%8A%D9%86/

LEAVE A REPLY

Please enter your comment!
Please enter your name here