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Description

With the expansion and development of the Egyptian economy, the domestic demand for refined petroleum products, especially diesel, has increased. In addition, as more natural gas is utilized to meet Egypt's expanding requirements for electricity, the demand for fuel oil decreases. The technology in most of Egypt's refineries produces large amounts of fuel oil, but the growing demand is for lighter products such as diesel. The increased demand for lighter petroleum products is one of the most important challenges Egypt's oil and gas industry faces. To address Egypt's increasing need, the Egyptian Refining Company (ERC) was incorporated in July, 2007 as a Law 8 Company to upgrade the existing CORC Refinery in Mostorod to provide Egypt with additional lighter petroleum products such as diesel and LPG which will be delivered to the heart of the consumption market—Cairo. ERC's products will reduce Egypt's dependency on petroleum imports.