The Petroleum Commercial Services Company “Petrotrade”, one of the petroleum sector companies, revealed an increase in the collection rates of used mineral and marine oils by 40% until the end of the year, doubling compared to last year.
Petrotrade’s used oil collection management is one of the most important tools of the Ministry of Petroleum to achieve the goal of preserving the environment in light of the axes of Egypt’s 2030 strategy to achieve sustainable development.
These effective efforts are also part of Egypt’s efforts to preserve the environment within the framework of the ongoing preparations to host the COP27 global climate conference in Sharm El-Sheikh next November.
It is noteworthy that an agreement between the Suez Canal Economic Authority and Petrotrade, one of the petroleum sector companies, stipulates that Petrotrade will transport and handle all hazardous and non-hazardous waste generated in all seaports affiliated with the Economic Authority, with the aim of tightening control over the handling of waste, as well as achieving an added value through the recycling of recyclable waste. To recycle in order to achieve an economic return by providing alternative fuels resulting from recycling these wastes to reduce the fuel import bill, which leads to the provision of foreign currency and the consequences of the balance of payments for the state, while not neglecting the desired environmental role.
This is in the context of the Egyptian seaports’ endeavor to reach clean green ports, and this comes in light of the directives of Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, who is always keen to maximize the role of added value and expand work in all fields within the petroleum sector companies.