KPC to establish representative office in Egypt to market products

The Kuwait Petroleum Corporation (KPC) will establish an office in Egypt as part of an agreement, according to Tarek El Molla, CEO of the Egyptian General Petroleum Corporation (EGPC).

The office’s purpose is to market the corporation’s crude oil products, as part of the plan to turn Egypt into a logistics centre for marketing and storage petroleum products.

El Molla added that the EGPC is studying a number of other options, alongside the establishment of the office, with the Kuwaiti side. These include providing Egypt with more crude oil for refining and then sale on international markets. Another option is the KPC storing the crude oil in EGPC warehouses, and then selling it through the Sidi Krir terminal in Alexandria.

Egypt imports 1.5m-2m barrels of crude oil every month from Kuwait, which are then refined and their petroleum products pumped to provide local market needs.