El-Neel Oil Marketing Company aims to launch 10 petrol stations in New Valley governorate worth EGP 20m.
Mohamed Kafafi, assistant director of marketing studies at the company, told Daily News Egypt that his company owns 69 stations distributed across the governorates of the New Valley and the Red Sea. It plans to expand in the near future to provide all petroleum products through establishing various warehouses.
He explained that the company will complete the implementation of its “Gahdam” warehouse in Assiut this year, in cooperation with Petrojet, at a cost of EGP 35m. A study to consider establishing another new warehouse in Assiut is underway.
Kafafi added that the company hopes to contribute to maintaining the environment through establishing stations for serving and fuelling cars that operate on new and renewable energy.
He pointed out that the company is working to develop its abilities in the field of aircraft fuelling at Assiut, Souhag, and Alamein airports. It is also preparing to establish a new developed station to fuel aircrafts at Assiut airport.
Kafafi explained that the company is keen on maximising revenues from fuelling ships at Red Sea ports.
He stressed that the company provides all the needs of electricity power plants in Upper Egypt, including fuel oil and diesel. It also has an urgent plan that includes developing all its existing and new stations.
El-Neel Oil Marketing Company has been able to expand its activity in the field of marketing mineral oils and lubricants through a number of contracts to supply oils to consumer bodies. Kafafi added that the company is committed to adhering to global specifications in the field of oil.
He noted that offering company shares on the Egyptian Exchange has been halted for the moment.
The company was established in 2005 with its headquarters in Assiut and a capital of EGP 250m. Some of the company’s shareholders include South Valley Egyptian Petroleum Holding Company (30%), Assiut Oil Refining Company (20%), the Cooperative Association of Petroleum (20%), Misr Petroleum Company (20%), and the Petroleum Pipelines Company (10%).