[ad_1]
million. Tariq Al Mulla, Minister of Petroleum and Mineral Resources, signed a memorandum of understanding between Egypt Petroleum and Petronas of Malaysia to cooperate in the production and marketing of special oils by exploiting the excess production capacities of the petroleum complex of Misr Petroleum Company. Every year, high quality oils are marketed both inside and outside of Egypt by exporting to African markets.
The memorandum was signed on Friday by the accountant Hussein Fathi, president of Misr Petroleum Company, and Joseph Dee Arrigo, general manager of PETRONAS International Lubricants Group (BLI)
The Minister of Petroleum signs a protocol of agreement for local oil production Stressing that the cooperation between the two companies aims to invest infrastructure and excess production capacity in the supply of specialized petroleum products with the highest standards of quality, l & 39; Engineer Tariq Al-Mulla stressed the importance of the memorandum of understanding to exploit the opportunities for investment in the manufacture and marketing of petroleum products. He emphasized that the project aims to improve the specifications of specialized petroleum products based on modern technologies in this field, thus contributing to provide high quality products adapted to the needs of the local market and consumers, as well as competitive products. Especially the African markets in light of Egypt's membership in the COMESA Organization, highlighting the importance of new international companies engaged in the marketing of petroleum products to invest in the news technologies they possess and establish economic partnerships based on mutual benefits.
[ad_2]
The chairman of Misr Petroleum Company said that the memorandum of understanding is a step in the formation of a joint venture based on the exploitation of the excess production capacity of the complex. Amreya and advanced technologies from Petronas Company to produce quantities of special lubricants that are not produced locally and imported from abroad. 20 thousand tons per year first quality oils and 10 thousand tons per year of diesel engine oils, highlighting the importance of the project by increasing the competitiveness of the company in the domestic and foreign markets and the transfer of new technologies developed for their own projects. For his part, Mr. Arigo emphasized that the company is interested in cooperation with the oil and labor sector in Egypt, which is a key pillar to strengthen its investment status in North Africa and in Middle East, especially with the availability of elements of success. He explained that the strategic goal of the joint venture is to merge Petronas' technological resources, capabilities and expertise in the field of supply and marketing around the world with the vast and unique expertise owned by
Source link
