HE Engineer Sameh Fahmy, Minister of Petroleum, has declared that the refining industry plays a fundamental role on the national as well as international level, so as to secure the requirements of the petroleum products. Likewise, it faces many challenges represented in the required investments to construct modern refineries for processing petroleum products, to face the increasing demand, highlighting the continuous improvement of operation economies of the nine Egyptian refineries.

Chemist Medhat Youssef, MIDOR's Chairman, pointed out that through its ninth productive year, the Egyptian refinery "MIDOR" processed about 33.27million barrels, equivalent to 4.33 million tons of a variety of crude, waxy distillates and fuel oil. Moreover, the company was capable of achieving a net income of about US$1.5 billion, despite the variable global severe fluctuations surpassing the international economic crisis impact. MIDOR has managed to entirely develop its activities as well as fulfill its whole contractual obligations during 2009, locally and internationally, in addition to covering its short-term facilities and construction loan installments and interests, and in due time.

During 2009, MIDOR's strategy was distinguished with the continuous coping with the international methods in the fields of evaluation, maintenance and inspection through major international companies, like Solomon Associates LLC, the German TUV, to evaluate its performance and implement the integrated eBusiness Suite program for all activities (ORACLE).

However, MIDOR's ranking was the best and top performance in process and refinery utilization, maintenance and turnaround index, as well as all cash operating expenses, cash margins and ROI% compared to similar refineries in Europe, Middle East and Africa, subject to Solomon's Study for the year 2008.

On the marketing level, the company's policy is based primarily on covering the local market needs, then selling the remainder of its products according to the selling contracts and planned export deliveries as per the international specification standards, since the entire refinery production of fuel oil, LPG and gasoline is directed to cover the national requirements.

For the first time, MIDOR has achieved US$7million as revenue of the commercial activity overseas, in cooperation with major international companies like, Eni and Shell, for purchasing and selling crude oil and petroleum products to the international market.

Furthermore, the chairman added that the company succeeded in utilizing the export facilities in Dekheila port, for dispatching (28) cargoes of jet fuel with a quantity of about 494 thousand tons, which valued around US$255 million, to the markets of Italy, Turkey, Netherlands, Cyprus, Tunisia and Nigeria, for MIDOR's distinctive products of the international specifications.

On the other hand, MIDOR has sold and delivered 393 thousand tons of Coke with a value of about US$ 12million to Oxbow, American company, which has exported it to the foreign markets.

On the scope of covering the local market requirements, the company has delivered to the EGPC, the following cargoes:

- 123 cargoes of low sulfur fuel oil, with a quantity of 2,462 million tons (equivalent to 25% of national consumption), with a value of US$1351 million.

- 137 cargoes of LPG, with a quantity of 124 thousand tons, with a value of US$72 million.

- A quantity of 914 thousand tons of high octane gasoline, with a value of US$549 million.

- A quantity of 278 thousand tons of jet fuel, with a value of US$161 million.