Monday, Nov 14, 2011
DOHA (Zawya Dow Jones)--Egypt's Middle East Oil Refinery, or Midor, will maintain its annual capacity of 5 million metric tons, or around 100,000 barrels a day, of crude oil and blends in the short term, the country's oil minister said Monday.
"It is one of our best refineries. We are already happy with Midor's current production. The priority is for other old refineries," Abdallah Ghorab told Zawya Dow Jones.
Jet fuel supplies from Midor, located on the Mediterranean coast, typically flow to northwestern Europe and the Mediterranean.
Egypt has previously said it would boost Midor's capacity to 130,000 barrels a day by 2011 to meet rising domestic demand.
Last year, Midor's production reached 5.05 million tons. It produced 124,000 tons of liquefied petroleum gas, 1.03 million tons of gasoline, 732,000 tons of jet fuel, 2.47 million tons of diesel and 39,000 tons of sulfur.
It sold 4.39 million tons of its output to the local market.
The state-run Egyptian General Petroleum Corp. owns 78% of the refinery. EGPC subsidiaries Enppi and Petrojet each own 10%. Suez Canal Bank (CANA.CA) owns the remaining 2%.
-By Summer Said, Dow Jones Newswires; 00966-546-842-373; summer.said@dowjones.com
(END) Dow Jones Newswires
14-11-11 1458GMT
