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Wednesday, 20 April 2016

Egypt plans to cut benzene, diesel imports by 2019

It’s bye bye, ya sollar as Egypt may completely sever its imports of gasoline and diesel by 2019, said Oil Minister Tarek El Molla. 2019 is the conservative deadline for the near-elimination of all diesel imports, with the hope that gasoline imports will be completely halted before that deadline, said El Molla during the Eighth Mediterranean Offshore Conference and Exhibition, which kicked off yesterday. He tacked on the now-standard refrain that Egypt will emerge as a regional energy hub, a key component of which is its refinery development plan, Reuters Arabic reports. The story doesn’t explain the background to the elimination of gasoline and diesel exports, but Qalaa Holdings’ in-progress Egyptian Refining Company will reduce diesel imports by more than 50% when it enters commercial production next year. The facility will also allow the upgrading of gasoline quality in the Greater Cairo Area.

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