Qatar Petroleum announces start-up of new refinery in Egypt
“All of the ERC Refinery units are now successfully operating, and are expected to ramp up to full production before the end of the first quarter of 2020”, the company said in a press release.
The $4.4 billion refinery will produce Euro V refined products including diesel and jet fuel for domestic consumption, by processing 4.7 million tons/year of mainly atmospheric residue from the Cairo Oil Refinery Company. The project is aimed to reduce Egypt’s dependence on imported petroleum products.
Qatar Petroleum owns a 38.1% stake in the Arabian Refinery Company and thereby a 66.6% stake in ERC.
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