Thursday 21 Nov
Ein Sokhna Port today welcomed the largest fuel oil carrier to ever dock at the port, with a capacity of 80,000 tons. This marks a crucial step towards addressing the country's power load shedding challenges.
The arrival of the shipment follows the government's recent
announcement to allocate $1.18 billion for the import of petroleum products,
aiming to reduce power outages. This move aligns with President Abdel Fattah
el-Sisi's directives to resolve this issue promptly.
In a bid to address the load shedding issue Prime Minister
Dr. Moustafa Madbouly previously announced a $180 million contract to purchase
300,000 tons of fuel oil, bolstering its strategic reserves and also gradually
contribute to a more stable energy supply.
On his visit today to the SUMED Company in Sokhna, Minister
of Petroleum and Mineral Resources Engineer Karim Badawi highlighted the port's
facilities as crucial infrastructure for the petroleum sector's plans to
stabilize and secure domestic fuel supplies.
He further emphasized the port's role as a symbol of successful Arab economic integration. Its strategic location between oil producers in the Arabian Gulf and Egypt offers a vital advantage, enabling pipeline transport of oil to the Mediterranean Sea and onward to global markets.
In the meantime, Prime Minister Moustafa Madbouly directed Minister of Electricity Mahmoud Ezzat to develop the necessary plan to halt load shedding during the third week of July and until the end of the summer season, a step towards completely eliminating load shedding by the end of 2024.
