Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, said that Egypt will reach self-sufficiency in oil products by 2023, benefiting from its new development projects in the oil sector. Molla’s remarks were made on the sidelines of the climate summit in Riyadh.
He added that Egypt will upgrade its existing refineries and build seven new ones as part of a $7 billion project. The new facilities will be able to produce 6.2 million tons of oil products such as gasoline and diesel per year.
