ENOC Misr, a joint venture between Proserv. Egypt Group and the UAE’s Emirates National Oil Company (ENOC), has signed a three-year agreement with Misr Petroleum to blend and fill lubricants locally its facility. 

Misr Petroleum’s oil mixing facility in Alexandria is spread over an area of about 100,000 square metres and produces more than 200 types of motor oils, industrial oils and specialised oils. 

Saif Humaid Al Falasi, Group CEO, ENOC, said: “The Egyptian economy has been able to mitigate the negative ramifications of the COVID-19 pandemic; demonstrating its agility and resilience as the country continues to drive investments in critical infrastructure and employment opportunities. These factors instil confidence to invest in projects that serve the manufacturing and industrial sectors in Egypt and bolster our presence.” 

He said the partnership with Misr Petroleum to blend lubricants locally will ensure seamless production and supply and contribute to significant cost savings. 

Misr Petroleum’s facility has an annual production capacity of 150,000 to 180,000 tonnes. The company also owns and operates more than 1,500 petrol and diesel car fuel stations in Egypt. 

Last week, ENOC had renewed its agreement with Meisheng Investment Development Co for another five years, for the exclusive supply and distribution of ENOC lubricant products in China. 

(Writing by N Madhura; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021