Arab Finance: Alexandria Mineral Oils Company (AMOC) and Middle East Oil Refinery (MIDOR) signed a joint agreement to increase the quantities of high-quality gas oil production, according to a bourse filing.

The two parties will adhere to international standards, boosting production by approximately 350,000 tons a year in accordance with the global price.

Moreover, the partnership enhances integration among petroleum sector companies to expedite the implementation of economically viable integrated activities that support the sustainability of growth and achieve high added value for petroleum sector companies.

This comes under the directives of Minister of Petroleum and Mineral Resources Karim Badawi.

The agreement was signed by Magdy El-Kurdi, Chairman of AMOC, and Amr Lotfy, Chairman of MIDOR.

AMOC recently secured a spot on Forbes’ ranking of Egypt’s top companies for profitability and market value for the fourth consecutive year.

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