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In the presence of the Minister of Petroleum: The Ordinary and Extraordinary General Assembly of MOPCO

In the presence of the Minister of Petroleum: The Ordinary and Extraordinary General Assembly of MOPCO

11 months ago

Engineer Tariq Al-Mulla, Minister of Petroleum and Mineral Resources, confirmed that the development achieved by MOPCO in terms of indicators and expansion in activities reflects its potentials, energies and continuity of growth.

Pointing out that MOPCO is a large production edifice that contributes to maximizing the added value of our natural resources and increasing revenues. It is also an attractive company for investments and has important and promising investment opportunities.

This came during the ordinary and extraordinary general assembly meeting of MOPCO on Saturday morning, corresponding to April 15, 2023, in the presence of major shareholders and a number of IPO shareholders, and Eng. Ibrahim Makki, Chairman of the Egyptian Petrochemical Holding Company.

At the beginning of the meeting, Engineer Mohamed Sobhi, Chairman and Managing Director, extended his thanks and appreciation to the Minister of Petroleum and Mineral Resources, Engineer Tariq Al-Mulla, members of the Board of Directors and members of the General Assembly. During the work of the Assembly, Engineer Mohamed Sobhi reviewed the agenda of the Assembly and the most prominent achievements of the company and its activities for the past year, including projects and programs. Engineer Mohamed Sobhi indicated that MOPCO was able to fully achieve the production plan with a quantity of about 2 million tons, an increase of 9% for the urea product from the plan, as well as about 1.2 million tons of the ammonia product, an increase of 10% from the plan.

The extraordinary general assembly of MOPCO approved the amendment of the text of Articles Nos. (3) and (5) related to amending the company's activity and the production of fertilizers, ammonia and nitrogen.

In conclusion, the members of the General Assembly commended the efforts exerted by the Chairman and members of the Board of Directors and employees and their keenness on the success of MOPCO to always remain a great productive edifice.