{"id":464505,"date":"2019-01-29T14:51:58","date_gmt":"2019-01-29T13:51:58","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=464505"},"modified":"2019-01-29T14:51:58","modified_gmt":"2019-01-29T13:51:58","slug":"egypt-plans-9-billion-for-modernization-of-six-of-its-oil-refineries","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/01\/29\/egypt-plans-9-billion-for-modernization-of-six-of-its-oil-refineries\/","title":{"rendered":"Egypt plans $ 9 billion for modernization of six of its oil refineries"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Egyptian oil minister Tarek El Molla announced on January 20, 2019 in Cairo that the country will upgrade six of its oil refineries at a cost of about US $ 9 billion. Objective, secure its supply of hydrocarbons and create significant reserves to no longer suffer fluctuations in oil prices on the world markets.<\/p>\n<p>&#8220;We are trying to secure supplies of crude oil from Egyptian refineries to increase local production of refined products,&#8221; he said.<\/p>\n<p>According to Tarek El Molla, &#8220;investment over a four-year period will boost domestic production to 41 million tonnes per year&#8221;.<\/p>\n<p>The country has proven reserves of 3.3 billion barrels of oil in 2017, the sixth largest in Africa behind Libya, Nigeria, Algeria, Angola and South Sudan.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Egyptian oil minister Tarek El Molla announced on January 20, 2019 in Cairo that the country will upgrade six of its oil refineries at a cost of about US $ 9 billion. Objective, secure its supply of hydrocarbons and create significant reserves to no longer suffer fluctuations in oil prices on the world markets. &#8220;We<\/p>\n","protected":false},"author":536748,"featured_media":464506,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12032,12036],"tags":[13894,15785],"class_list":{"0":"post-464505","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-commodities-en","8":"category-sectors","9":"tag-egypt-en","10":"tag-tarek-el-molla","11":"post_format-post-format-aside","12":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt plans $ 9 billion for modernization of six of its oil refineries - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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