Cooperation Petroleum Company (CPC) Chairman Nasser Shouman announced that the company sold 7.5 million tons of petroleum products during the fiscal year 2023/24. The announcement was made during a general assembly meeting, chaired by Minister of Petroleum and Mineral Resources Karim Badawi, to approve the company’s operational results, with the attendance of several key petroleum officials.

Shouman highlighted that CPC operates 32 warehouses across Egypt, with a total storage capacity of 766,000 tons, covering 35% of the country’s petroleum product distribution. The company also manages 1,232 fueling and service stations, all equipped with the ATG system. As part of its expansion strategy, CPC added 19 new stations during the year, with 23 more already operational. Additionally, it increased the number of stations offering natural gas, bringing the total to 185.

CPC also expanded its production and marketing of high-value products, such as synthetic oils. Total oil sales for the fiscal year reached 76,500 tons, with high-performance oil sales rising 4% year-on-year. Export sales amounted to 1,441 tons. Shouman also noted that CPC supports ship supply operations with six double-hull tankers, with a storage capacity of 9,650 tons. The company’s total port storage capacity is 41,800 tons, achieving ship supply sales of 43,000 tons, valued at $30 million.

The presentation highlighted CPC’s success in producing chemicals and home care products under the brand VIDA, which are considered among the top products in Egypt.

Minister Badawi praised CPC’s achievements and emphasized continued support for marketing entities in the petroleum sector, which provide essential products and services such as gasoline, diesel, mazut, oils, and chemical products. Lieutenant General Kamel el-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, attended the meeting and emphasized the state’s commitment to supporting national companies in maximizing their production capacities and attracting investments. Key expansion areas include ship supply activities, increasing the number of fueling stations on new roads, and enhancing the transport of petroleum products by rail.