Middle East Oil Refinery General Assembly has convened to evaluate the volume of achievements during the fiscal year 2010, and studying the variables that turned out on the local, regional and international levels, especially by considering the company’s strategic role in the framework of the Egyptian petroleum sector entity, targeting to practice its pioneering role locally to fulfill the domestic needs of petroleum products.

Eng. Aly Fadda, CEO & Chairman, pointed out the importance of developing the company’s strategy on both local and international levels to secure the needs of petroleum products, so as to overcome challenges of improving the refinery’s operational economies as well as maintaining balance between its role to secure domestic requirements and its contribution to regional and international markets. Moreover, the chairman expressed his optimism about the company’s potentials to pursue development advances and update refinery’s infrastructure to maximize the refining profit margin, demonstrating the necessity of raising refining flexibility and focus on producing high-value light products.

Furthermore, he added that MIDOR provided various feedstocks for operation from several resources, for it processed a quantity of about 35 million barrels, equivalent to around 4.8 million tons, of different crude types, waxy distillates and fuel oil; Thus, it managed to achieve a great development in its activities, alongside fulfill its contractual obligations during 2010 on the local and international levels.

Confirming the startup of operations of the Delayed Coker Unit expansions with an increasing capacity of 12.5%, there are currently three Storage Tanks under construction, from which 80% of the specified works for their installing were executed with a storage capacity of 63000 cubic meters.

However, he also stated MIDOR’s distinguished prolonged strategy during the fiscal year 2010, to cope with the international benchmarks through worldwide companies, like TUV the German company, for evaluation, maintenance and technical inspection; Hence, applying “Risk Based Inspection” system to set scientific fundamentals for inspection activities on equipments which could lead to hazards, besides integral information system (Oracle). Moreover, in 2010, MIDOR participated in the International Solomon Organization, which is currently evaluating MIDOR’s performance in comparison with the international refineries.

During 2010, MIDOR’s production reached 5.05 million tons to local and international markets, providing the domestic market with: 124,000 tons of LPG, 1,029,000 tons of Gasoline, 732,000 tons of Jet Fuel, 2,466,000 tons of Diesel, 39000 tons of Sulfur, with total sale quantities of 4,390,000 metric tons to the local market.

Regarding the international market exports, Eng. Aly Fadda declared that the export sales reached quantities of: 275,000 tons of Jet Fuel, 367,000 tons of Coke, 11,000 tons of Sulfur, 33,000 tons of Gasoline, with total sale quantities of 686,000 metric tons to the international market. He also confirmed that MIDOR fulfilled 2 million dollars as revenues of the commercial activities overseas, in collaboration with major international companies, for procurement and sale of crudes and petroleum products to the international markets.