The refinery in Asyut is one of three major projects implemented in the past four years. In September 2020, Egyptian President Abdel Fattah el-Sisi opened a major oil refinery in northwestern Cairo. A $3.4bn investment, the facility will produce 4.7 million tons of gasoline, diesel, and jet fuel every year.
Why is Egypt investing $7bn in oil refinery?
Egypt has invested over $7bn since 2016 to make its petroleum facilities process more oil. The refinery in Asyut is one of three major projects implemented in the past four years. In September 2020, Egyptian President Abdel Fattah el-Sisi opened a major oil refinery in northwestern Cairo.
Why is Egypt increasing its oil and gas processing capacity?
Egypt is increasing its oil and gas processing capacity to serve this objective. The new oil refineries are raising the number of operating refineries to 12. Egypt also has two major gas liquefaction plants.
What is the role of refining and petrochemical industries in Egypt?
Egypt’s refining and petrochemical industries play a dynamic role in the Egyptian economy. The Egyptian petrochemical industry is considered as one of the most vital strategic industries on which many complementary industries are based, and it has a direct impact on supporting the national economy.