Egypt launches urgent plans to meet market’s fuel needs
Fuel station - YOUM7

CAIRO: Egypt’s petroleum sector set plans to meet the needs of the market before Eid al-Adha, after witnessing a fuel shortage during the past days, Youm7 reported Monday.

For the second week in row, fuel stations witnessed hours-long queues amid fuel shortage, with a high demand for 92 octane petroleum.

Deputy Executive Chairman for operations at the state-run Egyptian General Petroleum Corporation (EGPC,) Amr Mostafa, said that “rumors” are the main reason behind the fuel crisis.

“Fuel is being pumped with an increased rate between 10 to 12.5 percent; the amount of fuel pumped reached 22,500 tons, including 11,250 tons of 80 octane and 11,250 tons of 92 octane,” Mostafa announced.

Egypt’s Minister of Petroleum Tareq al-Mola held a meeting with the chairmen of petroleum products’ companies to review the procedures to be taken to meet the needs of the market before Eid al-Adha, according to Youm7 Monday.

Mola also urged to increase the amount of pumped fuel to 22,500 tons of petroleum and 42,000 tons of diesel fuel.

He called for the rapid completion of approvals and licenses to establish new fuel stations, referring to the importance of the strategic reserve of petroleum products to guarantee the stability of the market.

On the other hand, Mostafa stated that the petroleum products’ market is witnessing “stability” as Alexandria port is to receive a 35,000-ton shipment Tuesday, which is the second in two days as another shipment of 35,000-ton arrived in the Suez port Sunday.

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