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Asharq Al-Awsat

Business

Cairo - Asharq Al-Awsat

Egypt to Set Up New Area for Crude Oil Storage South of Cairo

Egypt Cairo crude oil Oil Petroleum

The project, with an estimated cost of 1.8 billion Egyptian pounds, aims to receive crude from Ain Sokhna terminal on the red sea and pump it to Upper Egypt (Asharq Al-Awsat)

Egypt plans to set up new area for crude oil storage in El-Tebbin, south of Cairo, the petroleum ministry said in a statement on Sunday.

The project, with an estimated cost of 1.8 billion Egyptian pounds ($96.21 million), aims to receive crude from Ain Sokhna terminal on the red sea and pump it to Upper Egypt.

Minister of Petroleum and Mineral Resources Tarek El Molla said it is planned that the region will include a number of projects, foremost of which are new expansions of the infrastructure of the national network for transporting and paying petroleum products.

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