Petroleum Minister: Five-year plan to expand, drive growth, and enhance competitiveness of coop petroleum
Minister of Petroleum and Mineral Resources Karim Badawi said Coop Petroleum has significant advantages, including extensive accumulated expertise and strong technical and operational capabilities, enabling it to enhance its competitiveness and expand into international markets, particularly in lubricants and chemical industries, which offer promising opportunities to boost exports and enter new…
Minister Karim Badawi discussed a five-year plan to expand and enhance Coop Petroleum’s competitiveness during a meeting with senior officials. Badawi highlighted Coop Petroleum’s strong capabilities, which include extensive expertise and technical and operational strengths, positioning the company to capitalize on international opportunities, particularly in lubricants and chemicals.
The plan aims to boost growth rates, expand services, and shift focus toward neighboring markets, all while maintaining high product quality and operational efficiency. Coop Petroleum’s Chairman Mostafa al-Sayed reported record growth, achieving a 43% increase in net profit, driven by strong sales and market share gains. Notably, lubricant exports rose by 30% to 1,324 tons, and marine bunker fuel volumes soared by 610%, reaching 107,000 tons.
Domestic bunker supplies also increased to 65,000 tons, marking a 485% rise in marine bunker fuel revenue to $80 million. The company remains committed to developing marine lubricant sales and expanding into new markets.
Written by urgent.news from Egypt Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
